# EDGAR Filing Document

**Accession Number:** 0001594854
**File Stem:** 0001594854-26-000003
**Filing Date:** 2026-1
**Character Count:** 371859
**Document Hash:** 4a3c9e4620febe68d07a941c66812aca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001594854-26-000003.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001594854-26-000003

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 34

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**EFFECTIVENESS DATE**: 20260201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GreenFi Funds Trust
- **CENTRAL INDEX KEY:** 0001594854

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22922
- **FILM NUMBER:** 26572548

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 SANSOME STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 800-683-8529

**MAIL ADDRESS:**
- **STREET 1:** 1100 SANSOME STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aspiration Funds
- **DATE OF NAME CHANGE:** 20131219
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GreenFi Funds Trust
- **CENTRAL INDEX KEY:** 0001594854

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-192991
- **FILM NUMBER:** 26572547

**BUSINESS ADDRESS:**
- **STREET 1:** 1100 SANSOME STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 800-683-8529

**MAIL ADDRESS:**
- **STREET 1:** 1100 SANSOME STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aspiration Funds
- **DATE OF NAME CHANGE:** 20131219

## Series and Classes Contracts Data

### GreenFi Redwood Fund (Series ID: S000049577)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000156670 | GreenFi Redwood Fund | REDWX           |

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

As filed with the Securities and Exchange Commission on January 28, 2026

File Nos. 333-192991 and 811-22922

#### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

#### FORM N-1A

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| | |
|:---|:---|
| **REGISTRATION STATEMENT UNDER SECURITIES ACT OF 1933** | ☒ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-Effective Amendment No. |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Post-Effective Amendment No. 29 | ☒ |

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and/or

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| | |
|:---|:---|
| **REGISTRATION STATEMENT UNDER INVESTMENT COMPANY ACT OF 1940** | ☒ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendment No. 33 | ☒ |

---

(Check appropriate box or boxes)

<u>GreenFi</u> <u>Funds Trust</u>

(Exact Name of Registrant as Specified in Charter)

**1100 Sansome Street, San Francisco, CA 94111**

(Address of Principal Executive Offices)

#### 800-683-8529
(Registrant's Telephone Number, including Area Code)

#### The Corporation Trust Company

#### 1209 Orange Street, Wilmington, DE 19801
(Name and Address of Agent for Service)

#### With Copies to:

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| | |
|:---|:---|
| **Mark Perlow, Esq.**<br> **Dechert, LLP<br> One Bush Street, Suite 1600<br> San Francisco, CA 94104** | **Tracie Coop, Esq.**<br> **The Nottingham Company**<br> **116 S. Franklin Street**<br> **Rocky Mount, NC 27802** |

---

#### As soon as practicable after the Effective Date of this Registration Statement
(Approximate Date of Proposed Public Offering)

It is proposed that this filing will become effective: (check appropriate box)

[ ] immediately upon filing pursuant to paragraph (b)

[X] on February 1, 2026 pursuant to paragraph (b)

[ ] 60 days after filing pursuant to paragraph (a)(1)

[ ] on (date) pursuant to paragraph (a)(1)

[ ] 75 days after filing pursuant to paragraph (a)(2)

[ ] on (date) pursuant to paragraph (a)(2) of Rule 485

If appropriate, check the following box:

[ ] This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

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![](image0.jpg)

**GreenFi Redwood Fund**

Ticker Symbol: REDWX

*A series of*

#### GreenFi Funds Trust

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#### PROSPECTUS
February 1, 2026

This prospectus contains information about the **GreenFi Redwood Fund** that you should know before investing. You should read this prospectus carefully before you invest or send money and keep it for future reference. For questions, please call (800) 683-8529.

#### Investment Adviser

#### Mission Investment Advisors LLC
1100 Sansome Street

San Francisco, CA 94111

THE SECURITIES AND EXCHANGE COMMISSION HAS NOT APPROVED OR DISAPPROVED THESE SECURITIES OR PASSED UPON THE ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.<br>

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***TABLE OF CONTENTS*** 

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| | |
|:---|:---|
| **SUMMARY**<br>| **2** |
| **PRINCIPAL INVESTMENT OBJECTIVE AND STRATEGIES**  | **11** |
| &nbsp;&nbsp;&nbsp; Principal Investment Objective<br> Principal Investment Strategies<br> Principal Investment Risks for the Fund<br> Portfolio Holdings Disclosure<br>| 11<br> 11<br>12<br>16<br>|
| **MANAGEMENT OF THE FUND**  | **17** |
| &nbsp;&nbsp;&nbsp; Investment Adviser<br> Investment Sub-Adviser<br> Service Providers<br>| 17<br> 18<br>19<br>|
| &nbsp;&nbsp;&nbsp; **YOUR ACCOUNT**<br> Pricing Your Shares<br> How to Purchase Shares<br> How to Redeem Shares<br> Minimum Account Balance<br> Distribution of Shares<br> Market Timing Policy<br>| **19**<br>19<br> 21<br>22<br>24<br>24<br>24<br>|
| **DIVIDENDS AND DISTRIBUTIONS<br>**  | **24** |
| &nbsp;&nbsp;&nbsp; **TAXES**<br> Distributions<br>| **25**<br> 25<br>|
| **FINANCIAL HIGHLIGHTS**  | **27** |

---

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#### SUMMARY

#### GreenFi Redwood Fund
**Investment Objective** The primary investment objective of the GreenFi Redwood Fund (the "Fund") is to maximize total return, consisting of capital appreciation and current income.

**Fees and Expenses T**his table describes 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 tables and example below.**

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| | |
|:---|:---|
| **Shareholder Fees** | **Shareholder Fees** |
| *(fees paid directly from your investment)* | *(fees paid directly from your investment)* |
| <br> Maximum Sales Charge (Load) Imposed on Purchases<br> (as a percentage of offering price)<br>| <br> 0.00%<br>|
| <br> Maximum Deferred Sales Charge (Load)<br> (as a percentage of amount redeemed)<br>| <br> 0.00%<br>|
| <br> Redemption Fee<br> (as a percentage of amount redeemed)<br>| <br>0.00%<br>|

---

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| | |
|:---|:---|
| <br> **Annual Fund Operating Expenses** <br> *(expenses that you pay each year as a percentage of the value of your investment)* | <br> **Annual Fund Operating Expenses** <br> *(expenses that you pay each year as a percentage of the value of your investment)* |
| <br> Management Fees<br>| <br> 0.50%<br>|
| <br> Distribution and/or Service (12b-1) Fee<sup>1</sup><br>| <br> 0.01%<br>|
| <br> Other Expenses<br>| <br> 0.79%<br>|
| <br> **Total Annual Fund Operating Expenses**<br>| <br> **1.30%**<br>|

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*<sup>1.</sup> Distribution and/or Service (12b-1) Fees are less than 0.01% due to rounding. The Fund has adopted a plan pursuant to Rule 12b-1 promulgated under the Investment Company Act of 1940, as amended, that allows the Fund to pay for distribution and support services. Although the Fund is allowed to pay annual 12b-1 expenses of 0.25% under the plan, the Board of Trustees has only authorized the Fund to pay the amount charged by the Fund's principal underwriter and distributor and related offerings costs*

**Example** The Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. This Example assumes that you invest $10,000 in the Fund for the time period indicated and then sell or hold 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 (The Example reflects applicable waivers and/or reimbursements for the duration of such arrangement(s). Although your actual costs may be higher or lower, based on these assumptions your costs would be:

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| | | | |
|:---|:---|:---|:---|
| <br> **<u>1 Year</u>**<br>| <br> **<u>3 Years</u>**<br>| <br> **<u>5 Years</u>**<br>| <br> **<u>10 Years</u>**<br>|
| <br> $132<br>| <br> $412<br>| <br> $713<br>| <br> $1568<br>|

---

**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. During the most recent fiscal year, the Fund's portfolio turnover rate was 37.49% of the average value of its assets.

#### PRINCIPAL INVESTMENT STRATEGIES
To achieve its investment objective, the Fund invests in, or seeks exposure to, companies that are attractive based on their fundamental valuation profile in addition to evaluating specific sustainability factors. The Fund invests in equity securities that trade on U.S. securities markets, which may include securities of non-U.S. issuers as well as securities of U.S. issuers. The equity securities in which the Fund invests include, but are not limited to, dividend-paying securities, common stock, preferred stock, equity securities of real estate investment trusts ("REITS"), shares of investment companies, convertible securities, warrants, and rights. The Fund may purchase equity securities in an initial public offering ("IPO") provided that the investment is consistent with the Fund's investment strategy. The Fund may, but is not required to, use exchange-traded derivative instruments for risk management purposes or as part of the Fund's investment strategies. Generally, derivatives are financial contracts with value dependent upon, or derived from, the value of an underlying asset, reference rate, or index, and may relate to stocks, bonds, interest rates, currencies or currency exchange rates, and related indexes. The derivatives in which the Fund may invest include futures and forward currency agreements. These derivatives may be used for risk management purposes to manage or adjust the risk profile of the Fund. Futures on currencies and forward currency agreements may also be used to hedge against a specific currency. In addition, futures on indices may be used for investment (non-hedging) purposes to earn income; to enhance returns; to replace more traditional direct investments; or to obtain exposure to certain markets.

UBS Asset Management (Americas) LLC (the "Sub-Adviser") bases investment decisions upon price/value discrepancies as identified by the Sub-Adviser's fundamental valuation process. In selecting securities for the Fund, the Sub-Adviser focuses on, among other considerations, identifying discrepancies between a security's fundamental value and its market price. In this context, the fundamental value of a given security is the Sub-Adviser's assessment of what a security is worth. The Sub-Adviser will select a security whose fundamental value it estimates to be greater than its market value at any given time. For each stock under analysis, the Sub-Adviser bases its estimates of value upon economic, industry, and company analysis, as well as upon a company's management team, competitive advantage and core competencies. The Sub-Adviser then compares its assessment of a security's value against the prevailing market prices, with the aim of constructing a portfolio of stocks across industries with attractive relative price/value characteristics.

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The Sub-Adviser will employ both a positive and negative screening process in selecting securities for the Fund. The positive screening process seeks to identify securities of companies that are fundamentally attractive and that have superior valuation characteristics. In addition, the positive screening process will also include material sustainability factors that the Sub-Adviser believes confirm the fundamental investment case and can enhance the ability to make good investment decisions. The sustainability factors used by the Sub-Adviser in security selection are considered to be material factors that help the Sub-Adviser evaluate and compare the performance of environmental, social, and governance ("ESG") criteria relative to industry and/or sector. The Sub-Adviser combines these considerations with additional financial analysis to identify companies that the Sub-Adviser believes will provide attractively valued and sustainable investment opportunities. The Sub-Adviser believes that the sustainability strategy provides the Fund with a high-quality portfolio and mitigates risk.

The Sub-Adviser also applies a negative screening process that will exclude from the Fund's portfolio securities with more than 5% of sales in industries such as alcohol, tobacco, defense, nuclear, GMO (Genetically Modified Organisms), water bottles, gambling and pornography, and will entirely exclude all firearms issuers and companies within the energy sector as defined by MSCI and its Global Industry Classification Standard (GICS).

From time to time, the Fund may take temporary defensive positions that are inconsistent with the Fund's principal investment strategies, in attempting to respond to adverse market, economic, political, or other conditions. For example, the Fund may hold all or a portion of its assets in money market instruments (high quality income securities with maturities of less than one year), securities of money market funds or U.S. Government repurchase agreements. The Fund may also invest in such investments at any time to maintain liquidity or pending selection of investments in accordance with its policies. As a result, the Fund may not achieve its investment objective.

#### PRINCIPAL RISKS OF INVESTING IN THE FUND
All investments carry a certain amount of risk, and the Fund cannot guarantee that it will achieve its investment objective. The value of the Fund's investments will fluctuate with market conditions, and the value of your investment in the Fund also will vary. You could lose money on your investment in the Fund, or the Fund could perform worse than other investments. Investments in the Fund are not deposits of a bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation ("FDIC") or any other government agency. Below are the principal risks of investing in the Fund:

***Management Risk.*** There is a risk that the investment strategies, techniques and risk analyses employed by the Sub-Adviser may not produce the desired results. If the Fund's annual operating expenses exceed the contractual expense limit under the fund's expense limitation agreement and the Adviser is not able to pay Fund expenses required under such agreement, the Adviser may have to resign as adviser to the Fund or dissolve and liquidate the Fund. Dissolution or liquidation of the Fund may cause shareholders to liquidate or transfer their investments at inopportune times.

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***Market Risk.*** The Fund's investments will face risks related to investments in securities in general and the daily fluctuations in the securities markets. In addition, the value of the Fund's investments may be negatively affected by the occurrence of global events, such as war, terrorism, environmental disasters or events, country instability, the establishment of tariffs or other trade restrictions, inflation/deflation, and infectious disease epidemics or pandemics.

***Equity Securities Risk***. The Fund may invest in equity securities. Equity securities fluctuate in value, often based on factors unrelated to the fundamental economic condition of the issuer of the securities, including general economic and market conditions, and these fluctuations can be pronounced.

***Sustainability Risk.*** The Sub-Adviser's consideration of sustainability factors and the application of positive and negative screening processes may impact the Sub-Adviser's investment decisions as to securities of certain issuers and, therefore, the Fund may forgo some investment opportunities available to funds that do not consider sustainability factors or apply positive or negative screening processes, or that apply different sustainability criteria or screening processes. Consideration of sustainability factors and application of positive and negative screening processes is expected to impact the Fund's exposure to risks associated with certain issuers, industries and sectors, which may impact the Fund's investment performance. The Fund's performance may at times be better or worse than the performance of similar funds that do not consider sustainability factors or apply positive or negative screening processes, or that apply different sustainability criteria or screening processes. "Sustainability" is not a uniformly defined characteristic and consideration of sustainability factors involves subjective assessment. The Fund's investments are expected to include securities of issuers that derive revenue from non-sustainable activities. Sustainability information from third party data providers may be incomplete, inaccurate or unavailable, which could lead to an incorrect assessment of a company's sustainability characteristics.

***Focused Investment Risk.*** There is a risk that investing in a select group of securities or securities in a particular sector could subject the Fund to greater risk of loss and could be considerably more volatile than the Fund's primary benchmark or other funds that are diversified across a greater number of securities or sectors.

***Derivatives Risk.*** The value of "derivatives"—so called because their value "derives" from the value of an underlying asset, reference rate, or index—may rise or fall more rapidly than other investments. It is possible for the Fund to lose more than the amount it invested in the derivative. The risks of investing in derivative instruments also include market risk, management risk and counterparty risk (which is the risk that counterparty to a derivative contract is unable or unwilling to meet its financial obligations). In addition, non-exchange traded derivatives may be subject to liquidity risk, credit risk, and mispricing or valuation complexity. These derivatives risks are different from, and may be greater than, the risks associated with investing directly in securities and other instruments.

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***Convertible Securities Risk.*** The Fund may invest in convertible securities. Convertible securities include debt obligations and preferred stock of the company issuing the security, which may be exchanged for a pre-determined price (the conversion price) into the common stock of the issuer. The market values of convertible securities and other debt securities tend to fall when prevailing interest rates rise. The values of convertible securities also tend to change whenever the market value of the underlying common or preferred stock fluctuates.

***Limited Capitalization Risk.*** There is a risk that securities of small capitalization companies tend to be more volatile and less liquid than securities of larger capitalization companies. This can have a disproportionate effect on the market price of smaller capitalization companies and affect the Fund's ability to purchase or sell those securities. In general, smaller capitalization companies are more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources.

***Portfolio Turnover Risk***. The Fund may buy and sell portfolio securities actively. If it does, its portfolio turnover rate and transaction costs will rise, which may lower the Fund's performance and may increase the likelihood of capital gains distributions.

***IPOs Risk.*** The purchase of equity securities issued in IPOs may expose the Fund to the risks associated with companies that have no operating history as public companies, as well as to the risks associated with the sectors of the market in which the companies operate. The market for IPO shares may be volatile and share prices of newly public companies may fluctuate significantly over a short period of time.

***Foreign Investing Risk.*** The Fund may invest in securities of non-U.S. issuers. Investments in non-U.S. issuers may be riskier than investments in U.S. issuers because of factors such as unstable international political and economic conditions, currency fluctuations, foreign controls on investment, withholding taxes, a lack of adequate company information, a lack of government regulation, and legal systems or market practices that permit inequitable treatment of minority and/or non-domestic investors.

***Futures Risk.*** Use of futures contracts may cause the value of the Fund's shares to be more volatile. Futures contracts expose the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not accurately track the underlying securities.

***Leverage Risk Associated with Financial Instruments Risk.*** The use of financial instruments to increase potential returns, including derivatives used for investment (non-hedging) purposes, may cause the Fund to be more volatile than if it had not been leveraged. The use of leverage may also accelerate the velocity of losses and can result in losses to the Fund that exceed the amount originally invested.

***Investment Company Risk.*** The price movement of an investment company may not correlate to the underlying investments and may result in a loss. Closed-end funds may trade infrequently, with small volume, and at a discount to net asset value ("NAV"), which may affect the Fund's ability to sell shares of the fund at a reasonable price. Further, investments in other investment companies subject the investor to fees and expenses charged by such other investment companies, including ETFs. Finally, the Investment Company Act of 1940, as amended, imposes certain limitations on a fund's investments in other investment companies. These limitations may limit the amount the Fund may invest in certain investment companies.

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***REITs Risk.*** The risk that the Fund's performance will be affected by adverse developments to REITs and the real estate industry. REITs and underlying real estate values may be affected by a variety of factors, including: local, national or global economic conditions; changes in zoning or other property-related laws; environmental regulations; interest rates; tax and insurance considerations; overbuilding; property taxes and operating expenses; or declining values in a neighborhood. Similarly, a REIT's performance depends on the types, values, locations and management of the properties it owns. In addition, a REIT may be more susceptible to adverse developments affecting a single project or market segment than a more diversified investment. Loss of status as a qualified REIT under the U.S. federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

***Cybersecurity Risk*.** As part of their business, the Adviser, the Sub-Adviser, and third-party service providers process, store, and transmit large amounts of electronic information, including information relating to the transactions of the Fund. The Adviser, Sub-Adviser, third-party services providers, and the Fund are therefore susceptible to cybersecurity risk. Cybersecurity failures or breaches of the Adviser, Sub-Adviser, third-party service providers, or the Fund have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, the inability of Fund shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, and/or reputational damage. The Fund and its shareholders could be negatively impacted as a result.

#### PERFORMANCE INFORMATION
The following bar chart shows how the Fund's investment results have varied from year to year and the following table shows how the Fund's average annual total returns compared to that of a broad measure of market performance since the Fund's inception. This information provides some indication of the risks of investing in the Fund. All figures assume distributions were reinvested. Prior to October 10, 2024, the Fund had a different investment adviser. From the inception of the Fund until October 10, 2024, the Fund paid no management fees to the previous investment adviser. During this period investors in the Fund were required to be clients of the previous investment adviser. Advisory clients had the option to pay the previous investment adviser a fee in the amount they believed to be fair ranging from 0% to 2.00% of the value of the account, directly to the previous investment adviser. On October 10, 2024, the Fund entered into an agreement with the current investment adviser, under which the Fund pays the current investment adviser a management fee of 0.50%. Investors of the Fund are no longer required to be clients of the investment adviser, nor do they pay advisory fees directly to the investment adviser. Returns prior to October 10, 2024 are presented below assuming investors paid the maximum advisory fee of 2.00% and assuming investors paid 0%. Keep in mind that future performance may differ from past performance. Also, shareholder reports containing financial and investment return information will be available to shareholders semi-annually. Updated performance information is available at no cost by calling (800) 683-8529 (toll free) or by visiting funds.greenfi.com.

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**Calendar Year Returns**

*(with 0% assumed management fee reduction for periods prior to October 10, 2024)*

![](image1.jpg)

#### Calendar Year Returns
*(with 2.00% assumed management fee reduction for periods prior to October 10, 2024)*

![](image3.jpg)

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| | | |
|:---|:---|:---|
| <br> **Highest and Lowest Quarterly Returns (assumed with 0% management fee reduction for periods prior to October 10, 2024)** | <br> **Highest and Lowest Quarterly Returns (assumed with 0% management fee reduction for periods prior to October 10, 2024)** | <br> **Highest and Lowest Quarterly Returns (assumed with 0% management fee reduction for periods prior to October 10, 2024)** |
| <br> Highest return for a quarter<br>| <br> 29.65%<br>| <br> Quarter ended<br> June 30, 2020<br>|
| <br> Lowest return for a quarter<br>| <br> -29.73%<br>| <br> Quarter ended<br> March 31, 2020<br>|

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| | | |
|:---|:---|:---|
| <br> **Highest and Lowest Quarterly Returns (with assumed 2% management fee reduction for periods prior to October 10, 2024)** | <br> **Highest and Lowest Quarterly Returns (with assumed 2% management fee reduction for periods prior to October 10, 2024)** | <br> **Highest and Lowest Quarterly Returns (with assumed 2% management fee reduction for periods prior to October 10, 2024)** |
| <br> Highest return for a quarter<br>| <br> 27.65%<br>| <br> Quarter ended<br> June 30, 2020<br>|
| <br> Lowest return for a quarter<br>| <br> -31.73%<br>| <br> Quarter ended<br> March 31, 2020<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| <br> **Average Annual Total Returns <br> Periods Ended December 31, 2025**<br>| <br> **One Year**<br>| <br> **Five<br> Year**<br>| <br> **Ten<br> Year**<br>| <br> **Since<br> Inception\***<br>|
| <br> GreenFi Redwood Fund –<br> Without maximum contribution reduction (with assumed 0.00% management fee reduction for periods prior to October 10, 2024) | <br> GreenFi Redwood Fund –<br> Without maximum contribution reduction (with assumed 0.00% management fee reduction for periods prior to October 10, 2024) | <br> GreenFi Redwood Fund –<br> Without maximum contribution reduction (with assumed 0.00% management fee reduction for periods prior to October 10, 2024) | <br> GreenFi Redwood Fund –<br> Without maximum contribution reduction (with assumed 0.00% management fee reduction for periods prior to October 10, 2024) | <br> GreenFi Redwood Fund –<br> Without maximum contribution reduction (with assumed 0.00% management fee reduction for periods prior to October 10, 2024) |
| &nbsp;&nbsp;&nbsp;&nbsp;Returns Before taxes<br>| 17.90%<br>| <br> 9.71%<br>| <br> 12.75%<br>| 12.12%<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Returns after taxes on distributions | 14.73% | 7.89% | 10.75% | 10.16% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Returns after taxes on distributions and sale of shares | 12.81% | 7.29% | 9.79% | 9.26% |
| <br> GreenFi Redwood Fund –<br> With maximum assumed contribution reduction (with assumed 2.00% management fee reduction for periods prior to October 10, 2024.) | <br> GreenFi Redwood Fund –<br> With maximum assumed contribution reduction (with assumed 2.00% management fee reduction for periods prior to October 10, 2024.) | <br> GreenFi Redwood Fund –<br> With maximum assumed contribution reduction (with assumed 2.00% management fee reduction for periods prior to October 10, 2024.) | <br> GreenFi Redwood Fund –<br> With maximum assumed contribution reduction (with assumed 2.00% management fee reduction for periods prior to October 10, 2024.) | <br> GreenFi Redwood Fund –<br> With maximum assumed contribution reduction (with assumed 2.00% management fee reduction for periods prior to October 10, 2024.) |
| &nbsp;&nbsp;&nbsp;&nbsp;Returns Before taxes<br>| <br> 17.90%<br>| <br> 8.49%<br>| <br> 11.60%<br>| <br> 10.99%<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Returns after taxes on distributions | 14.73% | 6.67% | 9.60% | 9.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Returns after taxes on distributions and sale of shares | 12.81% | 6.07% | 8.64% | 8.13% |
|  S&P 500 Total Return Index<br> (reflects no deductions for fees and expenses)<br>| <br> 17.88%<br>| <br>14.42%<br>| <br>14.81%<br>| <br> 14.59%<br>|

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*\* The Fund commenced operations on November 16, 2015.*

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown and are not applicable to investors who hold Fund shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA).

#### MANAGEMENT OF THE FUND'S PORTFOLIO
***Investment Adviser.*** Mission Investment Advisors LLC

***Sub-Adviser.*** UBS Asset Management (Americas) LLC

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| | |
|:---|:---|
| <br> ***Sub-Adviser Portfolio Manager(s)*** | <br> ***Sub-Adviser Portfolio Manager(s)*** |
| <br> Alix Foulonneau<br> Portfolio Manager<br> Since 05/2025<br>| <br> Adam Jokich<br> Portfolio Manager<br> Since 08/2020<br>|

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#### MANAGER OF MANAGERS
The Fund obtained regulatory authority to hire one or more additional sub-advisers to manage portions of the Fund's portfolio without obtaining the approval of Fund shareholders. The Fund intends to amend the regulatory authority to include Mission Investment Advisors LLC as the new investment adviser. The Fund will notify all shareholders before making any changes to its sub-adviser.

#### BUYING AND SELLING OF FUND SHARES

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| | |
|:---|:---|
| <u>Minimum Initial Investment:</u> | $10 |
| <u>Minimum Additional Investment:</u> | $1 |

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You can buy or sell shares of the Fund on any business day on which the Fund is open. You can pay for shares via an Automated Clearing House ("ACH") transfer from your bank. For information about purchasing Fund shares, visit funds.greenfi.com.

#### TAX INFORMATION
Fund distributions are generally taxable to you as ordinary income or capital gains, unless your investment is held in an IRA, 401(k) or other tax-advantaged investment plan. Investments in such tax-advantaged plans will generally be subject to tax upon withdrawal of monies from the tax-advantaged plan.

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#### PRINCIPAL INVESTMENT OBJECTIVE AND STRATEGIES

#### Principal Investment Objective
The Fund seeks to maximize total return, consisting of capital appreciation and current income. The Fund's investment objective is not a fundamental policy and can be changed without shareholder approval by a vote of the Board. Shareholders will receive 60 days' prior written notice before a change to the investment objective takes place. There is no guarantee that the Fund will achieve its investment objective.

#### Principal Investment Strategies
To achieve its investment objective, the Fund invests in, or seeks exposure to, companies that are attractive based on their fundamental valuation profile in addition to evaluating specific sustainability factors. The Fund invests in equity securities that trade on U.S. securities markets, which may include securities of non-U.S. issuers as well as securities of U.S. issuers. The equity securities in which the Fund invests include, but are not limited to, dividend-paying securities, common stock, preferred stock, equity securities of REITs, shares of investment companies, convertible securities, warrants and rights. The Fund may purchase equity securities in an IPO provided that the investment is consistent with the Fund's investment strategy. The Fund may, but is not required to, use exchange-traded derivative instruments for risk management purposes or as part of the Fund's investment strategies. Generally, derivatives are financial contracts with value dependent upon, or derived from, the value of an underlying asset, reference rate, or index, and may relate to stocks, bonds, interest rates, currencies or currency exchange rates, and related indexes. The derivatives in which the Fund may invest include futures and forward currency agreements. These derivatives may be used for risk management purposes to manage or adjust the risk profile of the Fund. Futures on currencies and forward currency agreements may also be used to hedge against a specific currency. In addition, futures on indices may be used for investment (non-hedging) purposes to earn income; to enhance returns; to replace more traditional direct investments; or to obtain exposure to certain markets.

The Sub-Adviser bases investment decisions upon price/value discrepancies as identified by the Sub-Adviser's fundamental valuation process. In selecting securities for the Fund, the Sub-Adviser focuses on, among other considerations, identifying discrepancies between a security's fundamental value and its market price. In this context, the fundamental value of a given security is the Sub-Adviser's assessment of what a security is worth. The Sub-Adviser will select a security whose fundamental value it estimates to be greater than its market value at any given time. For each stock under analysis, the Sub-Adviser bases its estimates of value upon economic, industry and company analysis, as well as upon a company's management team and competitive advantage, among other things. The Sub-Adviser then compares its assessment of a security's value against the prevailing market prices, with the aim of constructing a portfolio of stocks across industries with attractive relative price/value characteristics.

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The Sub-Adviser will employ both a positive and negative screening process in selecting securities for the Fund. The positive screening process seeks to identify securities of companies that are fundamentally attractive and that have superior valuation characteristics. In addition, the positive screening process will also include material sustainability factors that the Sub-Adviser believes confirm the fundamental investment case and can enhance the ability to make good investment decisions. The sustainability factors, used by the Sub-Adviser in security selection, are considered to be material factors that help the Sub-Adviser evaluate and compare the performance of ESG criteria relative to industry and/or sector. The Sub-Adviser combines these considerations with additional financial analysis to identify companies that the Sub-Adviser believes will provide attractively valued and sustainable investment opportunities. The Sub-Adviser believes that the sustainability strategy provides the Fund with a high-quality portfolio and helps to mitigate risk.

The Sub-Adviser also applies a negative screening process that will exclude from the Fund's portfolio securities with more than 5% of sales in industries such as alcohol, tobacco, defense, nuclear, GMO (Genetically Modified Organisms), water bottles, gambling and pornography, and will entirely exclude all firearms issuers and companies within the energy sector as defined by MSCI and its Global Industry Classification Standard (GICS).

From time to time, the Fund may take temporary defensive positions that are inconsistent with the Fund's principal investment strategies, in attempting to respond to adverse market, economic, political, or other conditions. For example, the Fund may hold all or a portion of its assets in money market instruments (high quality income securities with maturities of less than one year), securities of money market funds or U.S. Government repurchase agreements. The Fund may also invest in such investments at any time to maintain liquidity or pending selection of investments in accordance with its policies. As a result, the Fund may not achieve its investment objective.

#### Principal Investment Risks for the Fund
***Convertible Securities Risk.*** The Fund may invest in convertible securities directly or indirectly through investment companies that invest in convertible securities. Convertible securities include debt obligations and preferred stock of the company issuing the security, which may be exchanged for a pre-determined price (the conversion price) into the common stock of the issuer. The market values of convertible securities and other debt securities tend to fall when prevailing interest rates rise. The values of convertible securities also tend to change whenever the market value of the underlying common or preferred stock fluctuates.

***Cybersecurity Risk*.** As part of their business, the Adviser, Sub-Adviser, and third-party service providers process, store, and transmit large amounts of electronic information, including information relating to the transactions of the Fund. The Adviser, Sub-Adviser, third-party service providers, and the Fund are therefore susceptible to cybersecurity risk. Cyber-attacks include, among other behaviors, stealing or corrupting data maintained online or digitally, denial of service attacks on websites, the unauthorized release of confidential information, and causing operational disruption. Successful cyber-attacks against, or security breakdowns of, the Fund or the Adviser, Sub-Adviser, or third-party service providers, including the Fund's custodians, fund accountant, fund administrator, transfer agent, and/or pricing vendors, may adversely impact the Fund and its shareholders. For instance, cyber-attacks may interfere with the processing of shareholder transactions, impact the Fund's ability to calculate its net asset value ("NAV"), cause the release of private shareholder information or confidential Fund information, impede trading, cause reputational damage, and subject the Fund to regulatory fines, penalties or financial losses, reimbursement or other compensation costs, and/or additional compliance costs. The Fund also may incur substantial costs for cybersecurity risk management in order to guard against any cyber incidents in the future. The Fund and its shareholders could be negatively impacted as a result.

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***Derivatives Risk***. A derivative instrument often has risks similar to its underlying asset and may also have additional risks. The Fund could experience a loss if its derivative positions are poorly correlated with its other investments, or if it is unable to liquidate a position because of an illiquid secondary market. The market for many derivatives is, or suddenly can become, illiquid. Changes in liquidity may result in significant, rapid, and unpredictable changes in the prices for derivatives. Certain derivative transactions may give rise to a form of leverage. Leverage magnifies the potential for gain and the risk of loss. The derivative instruments and techniques that underlying funds may principally use include:

&nbsp;&nbsp;&nbsp;&nbsp;• *Futures*. A futures contract is a standardized, exchange-traded agreement to buy or sell a specific quantity of an underlying instrument at a specific price at a specific future time. The risk of loss in buying and selling futures contracts can be substantial. Small price movements in the instrument underlying a futures position may result in immediate and substantial losses to the underlying fund.

&nbsp;&nbsp;&nbsp;&nbsp;• *Options*. A put option gives the purchaser of the option the right to sell, and obligates the writer to buy, the underlying security at a stated exercise price, typically at any time prior to the expiration of the option. A call option gives the purchaser of the option the right to buy, and obligates the writer to sell, the underlying security at a stated exercise price, typically at any time prior to the expiration of the option. A decision as to whether, when and how to use options involves the exercise of skill and judgment and even a well-conceived options transaction may be unsuccessful because of market behavior or unexpected events.

&nbsp;&nbsp;&nbsp;&nbsp;• *Swaps*. An over-the-counter ("OTC") swap contract is an agreement between two parties pursuant to which the parties exchange payments at specified dates on the basis of a specified notional amount, with the payments calculated by reference to specified securities, indices, reference rates, currencies or other instruments. Most swap agreements are not entered into or traded on exchanges. OTC swaps are often subject to credit risk or the risk of default or non-performance by the counterparty. Swaps could result in losses if interest rate or foreign currency exchange rates or credit quality changes are not correctly anticipated or if the reference index, security or investments do not perform as expected. Underlying funds' use of swaps may include those based on the credit of an underlying security, commonly referred to as "credit default swaps."

&nbsp;&nbsp;&nbsp;&nbsp;• *Foreign currency forward exchange contracts*. Foreign currency forward exchange contracts are transactions involving the Fund's obligation to purchase or sell a specific currency at a future date at a specified price. Unanticipated changes in currency prices may result in losses to an underlying fund and poorer overall performance for the fund than if it had not entered into foreign currency forward exchange contracts.

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***Equity Securities Risk***. The Fund may invest in equity securities directly or indirectly through investment companies that invest in equity securities. Equity securities fluctuate in value, often based on factors unrelated to the fundamental economic condition of the issuer of the securities, including general economic and market conditions, and these fluctuations can be pronounced.

***Focused Investment Risk.*** There is a risk that investing in a select group of securities or securities in a particular sector could subject the Fund to greater risk of loss and could be considerably more volatile than the Fund's primary benchmark or other mutual funds that are diversified across a greater number of securities or sectors.

***Foreign Investing Risk.*** The value of the Fund's investments in securities of non-U.S. issuers may fall due to adverse political, social and economic developments abroad and due to decreases in foreign currency values relative to the U.S. dollar. Also, securities of non-U.S. issuers may be impacted by foreign controls on investment, withholding taxes, a lack of adequate company information, a lack of government regulation, and legal systems or market practices that permit inequitable treatment of minority and/or non-domestic investors.

***Futures Risk.*** Use of futures contracts by the Fund or underlying funds may cause the value of the Fund's shares to be more volatile. Futures contracts expose the Fund or underlying funds to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not accurately track the underlying securities. 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.

***Investment Company Risk.*** The price movement of an investment company may not correlate to the underlying investments and may result in a loss. Closed-end funds may trade infrequently, with small volume, and at a discount to NAV, which may affect the Fund's ability to sell shares of the fund at a reasonable price. Further, investments in other investment companies subject the investor to fees and expenses charged by such other investment companies, including ETFs. Finally, the Investment Company Act of 1940, as amended, imposes certain limitations on a fund's investments in other investment companies. These limitations may limit the amount the Fund may invest in certain investment companies.

***IPOs Risk.*** The purchase of shares issued in IPOs exposes the Fund to the risks associated with companies that have little operating history as public companies, as well as to the risks associated with the sectors of the market in which the companies operate. Further, the absence of a prior public market, unseasoned trading, the small number of shares usually available for trading or the possibility of dilution of share value by issuance of additional shares may affect the market value of IPO shares. The market for IPO shares has been volatile and share prices of newly public companies have fluctuated significantly over short periods of time.

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***Leverage Risk Associated with Financial Instruments Risk.*** The use of financial instruments to increase potential returns, including derivatives used for investment (non-hedging) purposes, may cause the Fund to be more volatile than if it had not been leveraged. The use of leverage may also accelerate the velocity of losses and can result in losses to the Fund that exceed the amount originally invested.

***Limited Capitalization Risk.*** There is a risk that securities of small capitalization companies tend to be more volatile and less liquid than securities of larger capitalization companies. This can have a disproportionate effect on the market price of smaller capitalization companies and affect the Fund's ability to purchase or sell those securities. In general, smaller capitalization companies are more valuable than larger companies to adverse business or economic developments and they may have more limited resources.

***Management Risk.*** There is a risk that the investment strategies, techniques, and risk analysis employed by the Sub-Adviser may not produce the desired results. If the Fund's annual operating expenses exceed the contractual expense limit under the Fund's expense limitation agreement and the Adviser is not able to pay Fund expenses required under the such agreement, the Adviser may have to resign as Adviser to the Fund or dissolve and liquidate the Fund. Dissolution or liquidation of the Fund may cause shareholders to liquidate or transfer their investments at inopportune times.

***Market Risk.*** Market risk refers to the risk related to investments in securities in general and the daily fluctuations in the securities markets. The Fund's investment return per share will change daily based on many factors, including fluctuation in interest rates, the quality of the instruments in the Fund's investment portfolio, national and international economic conditions and general market conditions. In addition, the value of the fund's investments may be negatively affected by the occurrence of global events, such as war, terrorism, environmental disasters or events, country instability, the establishment of tariffs or other trade restrictions, inflation/deflation, and infectious disease epidemics or pandemics. These events could reduce consumer demand or economic output; result in market closures; interest rate changes, travel restrictions or quarantines; and significantly adversely impact the economy. Governmental and quasi-governmental authorities and regulators throughout the world have in the past often responded to serious economic disruptions with a variety of significant fiscal and monetary policy changes which could have an unexpected impact on financial markets and the Fund's investments.

***REITs Risk.*** The risk that the Fund's performance will be affected by adverse developments to REITs and the real estate industry. REITs and underlying real estate values may be affected by a variety of factors, including: local, national or global economic conditions; changes in zoning or other property-related laws; environmental regulations; interest rates; tax and insurance considerations; overbuilding; property taxes and operating expenses; or declining values in a neighborhood. Similarly, a REIT's performance depends on the types, values, locations and management of the properties it owns. In addition, a REIT may be more susceptible to adverse developments affecting a single project or market segment than a more diversified investment. Loss of status as a qualified REIT under the US federal tax laws could adversely affect the value of a particular REIT or the market for REITs as a whole.

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***Portfolio Turnover Risk.*** The Fund may engage in frequent trading of its portfolio securities. A portfolio turnover rate of 200%, for example, is equivalent to the Fund buying and selling all of its securities two times during the course of the year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs. A high portfolio turnover rate also can result in an increase in taxable capital gains distributions to the Fund's shareholders.

***Sustainability Risk.*** The Sub-Adviser's consideration of sustainability factors and the application of positive and negative screening processes may impact the Sub-Adviser's investment decisions as to securities of certain issuers and, therefore, the Fund may forgo some investment opportunities available to funds that do not consider sustainability factors or apply positive or negative screening processes, or that apply different sustainability criteria or screening processes. Consideration of sustainability factors and application of positive and negative screening processes is expected to impact the Fund's exposure to risks associated with certain issuers, industries and sectors, which may impact the Fund's investment performance. The Fund's performance may at times be better or worse than the performance of similar funds that do not consider sustainability factors or apply positive or negative screening processes, or that apply different sustainability criteria or screening processes. "Sustainability" is not a uniformly defined characteristic and consideration of sustainability factors involves subjective assessment. The Fund's investments are expected to include securities of issuers that derive revenue from non-sustainable activities. Sustainability information from third party data providers may be incomplete, inaccurate or unavailable, which could lead to an incorrect assessment of a company's sustainability characteristics.

Investment is Not Insured or Guaranteed. An investment in the Fund is not a deposit of the bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.

#### Portfolio Holdings Disclosure
A description of the Fund's policies and procedures with respect to the disclosure of its portfolio holdings is available in the Statement of Additional Information ("SAI") and online by visiting funds.greenfi.com.

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#### MANAGEMENT OF THE FUND

#### Investment Adviser
Mission Investment Advisors LLC

Mission Investment Advisors LLC, located at 1100 Sansome Street, San Francisco, CA 94111, serves as the investment adviser to the Fund. The Adviser is a wholly owned subsidiary of MFP Capital Group, Inc., also located at 1100 Sansome Street, San Francisco, CA 94111. Dechert The Adviser provides oversight of the Sub-Adviser's investment performance, operations, and compliance through due diligence reviews and policies and procedures. As of December 31, 2025, Mission Investment Advisors LLC had approximately $151.0 million in assets under management.

<u>Disclosure Regarding Approval of Investment Advisory Agreement.</u> Disclosure regarding the basis for the Board of Trustee's approval of investment advisory agreement is available in the Fund's Form N-CSR filed for the fiscal period ended March 31, 2024. You may obtain a copy of the Fund's Form N-CSR, free of charge, upon request to the Fund.

**Adviser Compensation.** As compensation for these services, the Adviser receives an advisory fee from the Fund. For the 12 months ended September 30, 2025, the advisory fee was 0.49%. This figure, which is expressed as a percentage of the Fund's average daily net assets, represents the actual amount paid, including the effects of any reductions, and are based on the fees that applied for that period. Under the Fund's investment advisory agreement, the Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment adviser. The previous investment adviser did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment adviser a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment adviser were permitted to invest in the Fund. Shareholders in the Fund are no longer required to be clients of the Fund's investment adviser.

**Expense Limitation Agreement.** The Adviser has entered into an expense limitation agreement ("Agreement") with the Fund under which it has agreed to waive or reduce its management fees and assume other expenses of the Fund in an amount that limits the Fund's Total Annual Fund Operating Expenses to 1.35% ("Maximum Operating Expense Limit"). The Adviser will do this by reimbursing the Fund for certain direct expenses and fees, such as transfer agency, custodial, auditing and legal fees. The Fund also incurs certain indirect expenses, and expenses paid by the Fund when it invests as a shareholder in underlying investment companies. The Adviser has not agreed to waive or reimburse brokerage fees and commissions, acquired fund fees and expenses, fees and expenses associated with investments in other collective investment vehicles or derivative instruments, borrowing costs, taxes, or extraordinary expense, such as litigation and indemnification expenses. Because the Adviser is not obligated under the Agreement to pay these expenses, the Fund's total annual fund operating expenses may actually exceed the Maximum Operating Expense Limit. The Agreement is in effect through January 31, 2027, unless earlier terminated by a majority of the Board of Trustees (the "Board" or the "Trustees") who are not "interested persons" of the Trust, as defined in the Investment Company Act of 1940, as amended, or a majority vote of the outstanding voting securities of the Trust. Any fees or expenses waived or reimbursed by the Adviser are subject to repayment by the Fund within three years following the date on which waiver or reimbursement occurred if the Fund is able to make the repayment without exceeding its current Maximum Operating Expense Limit or the Maximum Operating Expense Limit in place at the time of the waiver and/or reimbursement.

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#### Investment Sub-Adviser
UBS Asset Management (Americas) LLC

UBS Asset Management (Americas) LLC ("UBS AM"), located at 1285 Avenue of the Americas, New York, NY 10019, serves as the sub-adviser to the GreenFi Redwood Fund. Subject to the authority of the Board of Trustees and oversight by the Adviser, the Sub-Adviser is responsible for management of the Fund's investment portfolio according to the Fund's investment objective, policies and restrictions. UBS AM is a Delaware limited liability company and an investment adviser registered with the SEC. UBS AM is an indirect asset management subsidiary of UBS Group AG ("UBS"). As of September 30, 2025, UBS AM had approximately $590 billion in assets under management. UBS AM is a member of the UBS Asset Management Division, which had approximately $2,043 billion in assets under management worldwide as of September 30, 2025. UBS is an internationally diversified organization headquartered in Zurich, Switzerland with operations in many areas of the financial services group of industries. As Sub-Adviser to the GreenFi Redwood Fund, UBS AM is responsible for the day-to-day management of the Fund.

Pursuant to a Sub-Advisory Agreement between the Adviser and the Sub-Adviser, the Adviser will pay the Sub-Adviser a sub-advisory fee, quarterly in arrears, at an annual rate based on the average daily nets asset of the Fund of 0.17% on the first $175 million of net assets, and 0.15% on net assets over $175 million. Under the previous sub-investment advisory agreement, the Sub-Adviser was entitled to 50% of the advisory fees received by the previous investment adviser in respect of the Fund on the first $250 million, 30% of the advisory fees received by the previous investment adviser on the next $750 million, and 20% of the advisory fees received by the previous investment adviser on the amounts thereafter.

Disclosure regarding the basis for the Board of Trustees' approval of the Investment Sub-Advisory Agreement is available in the Fund's Form N-CSR filed for the fiscal period ended March 31, 2024.

***Portfolio Management.*** The following individuals are employed by the Sub-Adviser and are primarily responsible for the day-to-day management of the Fund's portfolio.

**Adam Jokich, CFA.** Adam Jokich has served as a portfolio manager within the Global Equity team at UBS Asset Management since June 2019 and deputy portfolio manager on US Equity strategies at UBS Asset Management since August 2020. Previously, Mr. Jokich was a quantitative analyst within the Global Equity team at UBS Asset Management. He has been with UBS Asset Management since 2012. Mr. Jokich has been a portfolio manager of the Fund since August 2020.

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**Alix Foulonneau**. Alix Foulonneau is a portfolio manager on the Global Equity team, based in London. She supports the portfolio construction process for sustainable and impact equity strategies managed by the Global Equity team. With her strong sustainability background, she leads the engagement strategy and sustainability research efforts for our Impact strategies. Prior to becoming a Portfolio Manager in 2023, Alix was a sustainability research analyst in the Global Equity team. Alix was previously the equity strategist for the Global Sustainable Equities team, managing communication with clients and development of the Sustainable Equity Strategies until March 2021. Until 2016, she worked as an analyst on the UBS-AM Governance & Stewardship team for two years.

The SAI provides additional information about each portfolio manager's compensation structure, other managed accounts and ownership of securities in the Fund.

#### Service Providers
**Administrator.** The Nottingham Company ("Administrator") serves as the administrator for the Fund.

**Transfer Agent.** Nottingham Shareholder Services, LLC ("Transfer Agent"), serves as dividend disbursing and transfer agent for the Fund.

Shareholder Servicing Agent. Mission Financial Partners, LLC ("Shareholder Servicing Agent"), serves as the shareholder servicing agent for the Fund.

**Distributor.** Capital Investment Group, Inc. ("Distributor") is the principal underwriter and distributor of the Fund's shares and serves as the Fund's exclusive agent for the distribution of the Fund's shares.

**Custodian.** UMB Bank, N.A. ("Custodian") serves as custodian of the Fund's assets.

#### YOUR ACCOUNT

#### Pricing Your Shares
When you buy and sell shares of the Fund, the price of the shares is based on the Fund's NAV next determined after the order is received.

#### Calculating the Fund's NAV
The NAV is calculated at the close of regular trading on the New York Stock Exchange ("NYSE") on the days the NYSE is open for trading. This is normally 4:00 p.m., Eastern time ("ET"). The Fund's shares will not be priced on the days that the NYSE is closed for trading. In addition, the Fund's shares will not be priced on the holidays listed in the Statement of Additional Information.

Your order to purchase or sell shares is priced at the next NAV calculated after your order is received in good order by the Fund. Only purchase orders received in good order by the Fund before 4:00 p.m. ET will be effective at that day's NAV. On occasion, the NYSE will close before 4:00 p.m. ET. When that happens, purchase requests received by the Fund or an authorized agent of the Fund after the NYSE closes will be effective the following business day. The NAV of the Fund may change every day.

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To the extent that a document must be completed, signed, and delivered, a purchase or redemption request is considered to be "in good order" only if it is returned to the following address:

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| | |
|:---|:---|
| <br> **<u>Regular Mail</u>**<br>| <br> **<u>Express Mail</u>**<br>|
| Nottingham Shareholder Services, LLC<br> P.O. Box 4365<br> Rocky Mount, NC 27802-0069 | Nottingham Shareholder Services, LLC<br> 116 S. Franklin Street<br> Rocky Mount, NC 27804 |

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Documents sent to any other address, including the business address of the Fund or Adviser, will not be considered to be "in good order."

*Good Order.* A purchase or redemption request is considered to be "in good order" when all necessary information is provided, and all required documents are properly completed, signed, and delivered. Requests must include the following:

&nbsp;&nbsp;&nbsp;&nbsp;• The account number (if issued) and Fund name;

&nbsp;&nbsp;&nbsp;&nbsp;• The amount of the transaction, in dollar amount or number of shares;

&nbsp;&nbsp;&nbsp;&nbsp;• For redemptions (other than online, telephone or wire redemptions), the signature of all account owners exactly as they are registered on the account;

&nbsp;&nbsp;&nbsp;&nbsp;• Required signature guarantees, if applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;• Other supporting legal documents and certified resolutions that might be required in the case of estates, corporations, trusts and other entities or forms of ownership. Call (800) 683-8529 for more information about documentation that may be required of these entities.

Additionally, a purchase order initiating the opening of an account is not considered to be in "good order" unless you have provided all information required by the Fund's "Customer Identification Program" as described below.

#### Valuing Fund Assets
The market value of the Fund's investments is determined primarily on the basis of readily available market quotations. Shares of open-end investment companies (i.e., mutual funds) are valued at their respective NAV. The Fund generally uses pricing services to determine the market value of securities.

The Board has designated the Adviser to serve as the "Valuation Designee" to perform fair value determinations subject to the Board's oversight. If market quotations for a security are not available or market quotations or a price provided by a pricing service does not reflect fair value, or the validity of the price is otherwise questionable or unreliable, the Valuation Designee, acting through its Pricing Committee, will value the Fund's assets at their fair value according to policies approved by the Board of Trustees. For example, if trading in a portfolio security is halted and does not resume before the Fund calculates its NAV, the Valuation Designee may need to price the security using the Fund's fair value pricing guidelines. The circumstances under which an underlying fund will use fair value pricing and the methods used are disclosed in the offering documents for the underlying fund, which may include the underlying fund's prospectus and statement of additional information.

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Without a fair value price, short-term investors could take advantage of the arbitrage opportunity and dilute the NAV of long-term investors. While fair valuation of the Fund's portfolio securities can serve to reduce arbitrage opportunities, there is no assurance that fair value pricing policies will prevent dilution of the NAV by short-term investors. Fair valuation involves subjective judgments, and it is possible that the fair value determined for a security may differ materially from the value that could be realized upon the sale of the security.

#### How to Purchase Shares

#### Purchasing Shares
Shares may be purchased only through the Fund's website, funds.greenfi.com. The minimum initial investment in the Fund is $10 and the minimum subsequent investment is $1. Purchase orders received by the Fund in good order and accompanied by ACH transaction in the full amount of the purchase price before the close of regular trading on the NYSE (normally 4:00 p.m. ET) will be effective at that day's share price. Purchase orders received by the Fund after the close of regular trading on the NYSE are processed at the share price determined on the following business day. You may invest any amount you choose, as often as you wish, subject to the minimum initial and subsequent investments described above. The Fund reserves the right to waive these minimums.

There is an annual maintenance fee of $15 charged for all IRA accounts.

#### Online Investor Requirements
The Fund is designed for online investors and requires its shareholders to consent to receive all Fund shareholder information electronically. Shareholder information includes, but is not limited to, prospectuses, shareholder reports, confirmations, Form 1099 tax statements, proxy solicitations, and account statements.

When you become a shareholder of the Fund, you certify that you have access to the Internet and a current email account, you acknowledge that you have the sole responsibility for providing a correct and operational email address, and you agree to notify the Fund immediately if your email address changes.

If you revoke your consent to receive shareholder information electronically, fail to maintain an email account or fail to notify the Fund immediately if your email address changes, the Fund will send communications to you by regular mail.

#### Customer Identification Program: Important Information about Procedures for Opening an Account
Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. When you open an account, we will ask for your name, residential address, date of birth, government identification number, and other information that will allow us to identify you. We also may ask to see your driver's license or other identifying documents.

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If your purchase order is not received in good order, there may be a delay in processing your investment request and your assets may be uninvested pending receipt of the required information. If we are unable to immediately verify your identity, the Fund may restrict further investment until your identity is verified. However, if we are unable to verify your identity, the Fund reserves the right to close your account without notice and return your investment to you at the NAV determined on the day in which your account is liquidated. If we close your account because we are unable to verify your identity, your investment will be subject to market fluctuation, which could result in a loss of a portion of your principal investment. If your account is closed at the request of governmental or law enforcement authorities, the Fund may be required by the authorities to withhold the proceeds.

#### Other Purchase Information
Before investing in the Fund, you should carefully review the Fund's prospectus together with any materials the Adviser provides you, including any materials that discuss fees associated with the Adviser's services (such as the Adviser's firm brochure). For information about opening an account and purchasing shares of the Fund, please visit funds.greenfi.com, available 24 hours a day. Please note that your dividend and capital gain distributions will be automatically reinvested unless you indicate otherwise.

The Fund reserves the right to limit the amount of purchases and to refuse to sell to any person. If your ACH does not clear, you will be responsible for any loss incurred by the Fund. If you are already a Fund shareholder, the Fund reserves the right to redeem shares from any identically registered account in the Fund as reimbursement for any loss incurred or money owed to the Fund. You also may be prohibited or restricted from making future purchases in the Fund.

#### How to Redeem Shares
You may redeem all or part of your investment in the Fund on any day on which the NYSE is open for trading, subject to certain restrictions described below. Redemption requests received by the Fund before the close of regular trading on the NYSE (normally 4:00 p.m. ET) will be effective that day. Redemption requests received by the Fund after the close of regular trading on the NYSE are processed at the NAV determined on the following business day. Shares of the Fund may only be redeemed through funds.greenfi.com.

The price you will receive when you redeem your shares will be the NAV next determined after the Fund receives your properly completed order to sell. You may receive proceeds from the sale by direct deposit into your bank account and in certain cases, payment may be made in securities of the Fund as described in "Additional Information About Redemptions." The proceeds may be more or less than the purchase price of your shares, depending on the market value of the Fund's securities at the time your redemption request is received. In the event that a direct deposit is impossible or impractical, the redemption check will be sent by mail to the address of record on the designated account.

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The Fund intends to redeem shares held by or on behalf of a shareholder who ceases to be an eligible investor and each investor, by purchasing shares, agrees to any such redemption.

*Medallion Signature Guarantee* **-** Some circumstances require that your request to redeem shares be made in writing accompanied by an original Medallion Signature Guarantee. A Medallion Signature Guarantee helps protect you against fraud. You can obtain a Medallion Signature Guarantee from most banks or securities dealers, but not from a notary public. You should verify with the institution that it is an eligible guarantor prior to signing. The recognized medallion program is Securities Transfer Agent Medallion Program (STAMP). SIGNATURE GUARANTEES RECEIVED FROM INSTITUTIONS NOT PARTICIPATING IN THIS PROGRAM WILL NOT BE ACCEPTED. The Transfer Agent has adopted standards for accepting signature guarantees. The Fund and the Transfer Agent reserve the right to amend these standards at any time without notice.

If the shares to be redeemed have a value of more than $50,000, or if the payment of the proceeds of a redemption of any amount is to be sent to a person other than the shareholder of record or to an address other than that on record with the Fund, you must have all signatures on written redemption requests guaranteed. If the name(s) or the address on your account has changed within the previous 15 days of your redemption request, the request must be made in writing with your signature guaranteed, regardless of the value of the shares being redeemed. Call (800) 683-8529 for information on Medallion Signature Guarantee requirements.

*Additional Information About Redemptions* – The Fund will pay redemption proceeds within seven (7) calendar days after receipt of a proper redemption request, although proceeds normally are paid within five (5) business days. However, when shares are purchased through ACH, the proceeds from the redemption of those shares may not be paid until the ACH transfer has been converted to federal funds, which could take up to 15 calendar days. The Fund may suspend redemptions or postpone payment of redemption proceeds, if permitted by the Investment Company Act of 1940, as amended; (i) for any period during which the NYSE is closed or trading on the NYSE is restricted; (ii) for any period during which an emergency exists as a result of which the Fund's disposal of its portfolio securities is not reasonably practicable, or it is not reasonably practicable for the Fund to fairly determine the value of its net assets; or (iii) for such other periods as the Securities and Exchange Commission may by order permit for the protection of the Fund's shareholders. At the discretion of the Fund or the Transfer Agent, corporate investors and other associations may be required to furnish an appropriate certification authorizing redemptions to ensure proper authorization.

Generally, all redemptions will be for cash. Under normal market conditions, the Fund expects to meet redemption orders by using holdings of cash/cash equivalents or by the sale of portfolio investments. However, if you redeem shares worth more than the lesser of $250,000 or 1% of the value of the net assets of the Fund during any 90-day period, the Fund reserves the right to pay part or all of your redemption proceeds in readily marketable securities instead of cash. If payment is made in securities, the Fund will value the securities selected in the same manner in which it computes its NAV. This process minimizes the effect of large redemptions on the Fund and its remaining shareholders.

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You may be subject to market risk and you may incur transaction expenses and taxable gains in converting the securities to cash. In addition, a redemption in liquid portfolio securities would be treated as a taxable event for you and may result in the recognition of gain or loss for federal income tax purposes.

#### Minimum Account Balance
Maintaining small accounts is costly for the Fund and may have a negative effect on the Fund's investment performance. Shareholders are encouraged to keep their accounts above the Fund's minimum. The Fund reserves the right to redeem your remaining shares and close your account if a redemption of shares brings the value of your account below $10. In such cases, you will be notified and given at least 30 days to purchase additional shares before the account is closed. The above involuntary redemption constitutes a sale of the Fund's shares. You should consult your tax adviser concerning the tax consequences of involuntary redemptions.

#### Distribution of Shares
The Fund has adopted a plan pursuant to Rule 12b-1 promulgated under the Investment Company Act of 1940, as amended, that allows the Fund to pay for distribution and support services. Although the Fund is allowed to pay annual 12b-1 expenses of 0.25% under the plan, the Board of Trustees has only authorized the Fund to pay the amount charged by the Distributor and related offerings costs. Because these fees are paid out of the Fund's 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.

#### Market Timing Policy
"Market Timing" refers to the practice of rapidly buying and selling shares of a mutual fund in order to take advantage of small short-term market fluctuations in the price of the shares of companies in which the Fund invests to the detriment of long-term fund investors. The Fund is designed to be a long-term investment and excessive trading by one or a few investors will impose costs on the Fund and, indirectly, on other investors. Therefore, the Board of Trustees has developed policies and procedures under which the Fund will monitor periodically excessive short-termed trading. If the Fund believes, in its sole discretion, that an investor is engaged in such trading, the Fund may, without prior notice, reject further purchase orders from that investor and disclaim responsibility for any consequent losses. Alternatively, the Fund may limit the amount, number, or frequency of any future purchases and/or the method by which an investor may request future purchases and redemptions.

### DIVIDENDS AND DISTRIBUTIONS
The Fund intends to distribute substantially all of its net investment income as dividends to its shareholders on an annual basis. The Fund intends to distribute its net realized long-term capital gains and its net realized short-term capital gains at least once a year. The Fund may distribute income dividends and capital gains more frequently, if necessary, in order to reduce or eliminate federal excise or income taxes on the Fund. The amount of any distribution varies and there is no guarantee the Fund will pay either income dividends or capital gain distributions.

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Income dividends and capital gain distributions are automatically reinvested in additional shares of the Fund at the applicable NAV on the distribution date unless you request cash distributions on your application or through a written request. If cash payment is requested, a direct deposit normally will be mailed within five business days after the payable date.

If you elect to receive income dividends and capital gain distributions in cash and the payment is returned and marked as "undeliverable" or is not cashed for six months, your cash election may be changed automatically, and future dividends will be reinvested in the Fund at the NAV determined as of the date of payment. In addition, any undeliverable checks or checks that are not cashed for six months may be cancelled and the proceeds reinvested in the Fund at the NAV determined as of the date of cancellation.

Investors should consider the tax implications of buying shares prior to a distribution. The price of shares purchased at that time may include the amount of a forthcoming distribution. Those purchasing Fund shares at a time when the Fund has realized but not yet distributed income or capital gains that is reflected in the price of the shares will subsequently receive a partial return of their investment capital upon payment of the distribution, which will be taxable to them as a dividend or other Fund distribution, as described below.

#### TAXES

#### Distributions
The following information is provided to help you understand the federal income taxes you may have to pay on income dividends and capital gains distributions from the Fund, as well as on gains realized from your redemption of Fund shares. **This discussion is not intended or written to be used as tax advice. Because everyone's tax situation is unique, you should consult your tax professional about federal, state, local, or foreign tax consequences before making an investment in the Fund.**

The Fund intends to qualify each year as a "regulated investment company" under Subchapter M of the Internal Revenue Code of 1986, as amended. By so qualifying, the Fund will generally not be subject to corporate level federal income taxes on any of its net investment income and any net realized capital gains that it distributes.

Distributions from the Fund (both taxable income dividends and capital gains) are normally taxable to you as ordinary income or long-term capital gains, regardless of whether you reinvest these distributions or receive them in cash (unless you hold shares in a qualified tax-deferred plan or account or are otherwise not subject to federal income tax). Due to the nature of the investment strategies used, distributions by the Fund generally are expected to consist primarily of income dividends and net realized capital gains; however, the nature of the Fund's distributions could vary in any given year.

The Fund will transmit to each shareholder after the close of the calendar year an Internal Revenue Service (IRS0 Form 1099 setting forth the federal income tax status of distributions made during the year. Income dividends and capital gains distributions also may be subject to state and local taxes.

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For federal income tax purposes, distributions of net investment income are taxable generally as ordinary income although certain dividends of net investment income paid to a non-corporate U.S. shareholder may be subject to income tax at the applicable rate for long-term capital gain.

Distributions of net realized capital gains (that is, the excess of the net realized gains from the sale of investments that the Fund owned for more than one year over the net realized losses from investments that the Fund owned for one year or less) that are properly reported by the Fund as capital gains will be taxable as long-term capital gain regardless of how long you have held your shares in the Fund.

Distributions of net realized short-term capital gain (that is, the excess of any net short-term capital gain over net long-term capital loss), if any, will be taxable to shareholders as ordinary income. Capital gain to a corporate shareholder is taxed at the same rate as ordinary income.

If you are a taxable investor and invest in the Fund shortly before it makes a capital gain distribution, some of your investment may be returned to you in the form of a taxable distribution. Fund distributions will reduce the NAV per share. Therefore, if you buy shares after the Fund has experienced capital appreciation but before the record date of a distribution of those gains, you may pay the full price for the shares and then effectively receive a portion of the purchase price back as a taxable distribution. This is commonly known as "buying a dividend."

#### Selling Shares
Selling, redeeming or exchanging your shares may result in a realized capital gain or loss, which is subject to federal income tax. For individuals, any long-term capital gains you realize from selling Fund shares currently are taxed at preferential income tax rates. Short-term capital gains are taxed at ordinary income tax rates. You or your tax adviser should track your purchases, tax basis, sales, and any resulting gain or loss. If you redeem Fund shares for a loss, you may be able to use this capital loss to offset any other capital gains you have.

The Fund must report cost basis information to the IRS on Form 1099-B for any sale of Fund shares ("Covered Shares"). "High Cost First Out" (HIFO) has been selected as the Fund's default cost basis calculation method. HIFO is a standing order to sell the most expensive shares in the account first. If a shareholder determines that an IRS approved cost basis calculation method other than the Fund's default method of HIFO is more appropriate, the shareholder must contact the Fund at the time of or in advance of the redemption of Covered Shares. IRS regulations do not permit the change of a cost basis election on previously executed trades.

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#### Backup Withholding
By law, you may be subject to backup withholding (currently at a rate of 24%) on a portion of your taxable distributions and redemption proceeds unless you provide your correct Social Security or taxpayer identification number and certify that (i) this number is correct, (ii) you are not subject to backup withholding, and (iii) you are a U.S. person (including a U.S. resident alien). You also may be subject to withholding if the IRS instructs the Fund to withhold a portion of your distributions or proceeds. You should be aware that the Fund may be fined by the IRS for each account for which a certified taxpayer identification number is not provided. In the event that such a fine is imposed with respect to a specific account in any year, the Fund may make a corresponding charge against the account.

#### Tax Status for Retirement Plans and Other Tax-Deferred Accounts
When you invest in the Fund through a qualified employee benefit plan, retirement plan or some other tax-deferred account, dividend and capital gain distributions generally are not subject to current federal income taxes. In general, these plans or accounts are governed by complex tax rules. You should ask your tax adviser or plan administrator for more information about your tax situation, including possible state or local taxes.

#### Medicare Tax
An additional 3.8% Medicare tax may be imposed on distributions you receive from the Fund and gains from selling, redeeming or exchanging your shares.

#### Non-U.S. Shareholders
Shareholders other than U.S. persons may be subject to a different U.S. federal income tax treatment, including withholding tax at the rate of 30% on amounts treated as ordinary dividends from the Fund, as discussed in more detail in the SAI.

#### FINANCIAL HIGHLIGHTS
The Financial Highlights table is intended to help you understand the Fund's financial performance for the last five fiscal years. Certain information reflects financial results for a single Fund share. The total returns in the table represent the rate that an investor would have earned (or lost) on an investment in the Fund assuming reinvestment of all dividends and distributions. The financial data in the table below have been derived from audited financial statements of the Fund included in the Fund's reports on Form N-CSR. The information for the fiscal years ended September 30, 2022, through September 30, 2025, has been audited by Tait, Weller & Baker LLP, as the independent registered public accounting firm, whose report is included in the Form N-CSR for the fiscal year ended September 30, 2025. The information for the fiscal year ended September 30, 2021, was audited by another independent registered public accounting firm. The Fund's financial statements, which are also incorporated by reference into the Statement of Additional Information, are available, free of charge,

by calling the Fund at 1-800-683-8529.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** |
|  |  | September 30, | September 30, | September 30, | September 30, | September 30, |
| For a share outstanding during each fiscal year ended | For a share outstanding during each fiscal year ended | 2025 | 2024 | 2023 | 2022 | 2021 |
| Net Asset Value, Beginning of Year | Net Asset Value, Beginning of Year | $18.26 | $14.90 | $13.04 | $17.22 | $12.91 |
| Income (Loss) from Investment Operations: | Income (Loss) from Investment Operations: |  |  |  |  |  |
|  | Net investment income (loss) | (0.09)(b) | 0.05 | 0.07 | 0.18 | 0.10 |
|  | Net realized and unrealized gain (loss) on investments | 2.13 | 3.38 | 2.12 | (2.61) | 4.21 |
| Total from Investment Operations | Total from Investment Operations | 2.04 | 3.43 | 2.19 | (2.43) | 4.31 |
| Less Distributions From: | Less Distributions From: |  |  |  |  |  |
|  | Net investment income | (0.05) | (0.07) | (0.12) | (0.22) | - |
|  | Net realized gains | (1.23) | - | (0.21) | (1.53) | - |
|  | Return of capital | - | - | - | - | - |
| Total Distributions | Total Distributions | (1.28) | (0.07) | (0.33) | (1.75) | - |
| Net Asset Value, End of Year | Net Asset Value, End of Year | $19.02 | $18.26 | $14.90 | $13.04 | $17.22 |
| Total Return  | Total Return  | 11.99% | 23.09% | 17.00% | (16.52)% | 33.38% |
| Net Assets, End of Year (in thousands) | Net Assets, End of Year (in thousands) | $148512 | $148165 | $132992 | $120125 | $140062 |
| Ratios of: | Ratios of: |  |  |  |  |  |
| Gross Expenses to Average Net Assets | Gross Expenses to Average Net Assets | 1.30%(a) | 0.77% | 0.80% | 0.86% | 0.87% |
| Net Expenses to Average Net Assets | Net Expenses to Average Net Assets | 1.30%(a) | 0.77% | 0.62% | 0.50% | 0.50% |
| Net Investment Income (Loss) to Average Net Assets | Net Investment Income (Loss) to Average Net Assets | 0.51% | 0.25% | 0.49% | 1.20% | 0.62% |
| Portfolio turnover rate | Portfolio turnover rate | 37.49% | 22.55% | 30.75% | 20.03% | 33.31% |
| (a) | The Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor. | The Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor. | The Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor. | The Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor. | The Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor. | The Adviser receives an annual advisory fee of 0.50% of the Fund's average daily net assets. Prior to October 10, 2024, the Fund had a different investment advisor. The previous investment advisor did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment advisor a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), and only clients of the previous investment advisor. Shareholders in the Fund are no longer required to be clients of the Fund's investment advisor. |
| (b) | Calculated using the average shares method. | Calculated using the average shares method. | Calculated using the average shares method. | Calculated using the average shares method. | Calculated using the average shares method. | Calculated using the average shares method. |

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#### ADDITIONAL INFORMATION

### GreenFi Redwood Fund

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|:---|:---|
| **Investment Adviser**<br> Mission Investment Advisors LLC<br> 1100 Sansome Street<br> San Francisco, CA 94111<br>| **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |
| **Sub-Adviser**<br> UBS Asset Management (Americas) LLC<br> 1285 Avenue of the Americas<br> New York, NY 10019<br>| **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |
| **Custodian**<br> UMB Bank, N.A.<br> 928 Grand Blvd., 5<sup>th</sup> Floor<br> Kansas City, MO 64106<br>| **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |
| **Independent Registered Public Accounting Firm**<br> Tait, Weller & Baker LLP<br> Two Liberty Place<br> 50 South 16<sup>th</sup> Street, Suite 2900<br> Philadelphia, PA 19102-2529<br>| **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |
| **Fund Counsel**<br> Dechert LLP<br> 45 Fremont St., 26th Floor<br> San Francisco, CA 94105<br>**Counsel for Independent Trustees**<br> Baker & McKenzie LLP<br> 815 Connecticut Avenue, N.W.<br> Washington, DC 20006-4078 | **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |
| **Distributor**<br> Capital Investment Group, Inc.<br> 100 E. Six Forks Road, Suite 200<br> Raleigh, NC 27609<br>| **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |
| **For Additional Information, call**<br> (800) 683-8529 | **To Learn More**<br>Several additional sources of information are available to you. The Statement of Additional Information (SAI), incorporated into this prospectus by reference, contains detailed information on Fund policies and operations. Additional information about the Fund's investments is available in the Fund's annual report, [and semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm) to shareholders and in Form N-CSR. In the Fund's annual report you will find discussion of the market conditions and investment strategies that significantly affected the Fund's investment return during its last fiscal year. In Form N-CSR, you will find the Fund's annual and semi-annual financial statements.<br>Call the Fund at (800) 683-8529 between the hours of 8:30 a.m. and 5:30 p.m. Eastern time on days the Fund is open for business to request free copies of the SAI, the Fund's annual and semi-annual reports, and the Fund's financial statements, to request other information about the Fund and to make shareholder inquiries. The Fund also makes available the SAI, its annual and semi-annual reports and other information such as the Fund's financial statements free of charge on its website:<br> funds.greenfi.com.<br>You may obtain reports and other information about the Fund on the EDGAR Database on the SEC's Internet site at http://www.sec.gov, and copies of this information may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov.<br>Investment Company Act #811-22922 |

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#### STATEMENT OF ADDITIONAL INFORMATION

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![](image0.jpg)

**GreenFi Redwood Fund**

Ticker Symbol: REDWX

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February 1, 2026

*A series of*

#### GreenFi Funds Trust
1100 Sansome Street

San Francisco, CA 94111

Telephone: (800) 683-8529

This Statement of Additional Information ("SAI") is not a prospectus. This SAI is intended to provide additional information regarding the activities and operations of the GreenFi Redwood Fund (the "Fund"). This SAI should be read in conjunction with the prospectus dated, February 1, 2026, and as amended or supplemented from time to time. The Fund's financial statements and accompanying notes that appear in the Fund's [Form N-CSR](https://www.sec.gov/ix?doc=/Archives/edgar/data/1594854/000199937125019613/redwood-ncsr_093025.htm) filed for the fiscal year ended September 30, 2025 are incorporated by reference into this SAI. Copies of the Prospectus, [annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/1594854/000199937125019613/redwood-ncsr_093025.htm), [semi-annual report](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001594854/000199937125007363/greenfi-ncsrs_033125.htm), and other information such as the Fund's financial statements can be obtained at no charge by calling (800)-683-8529 (toll free) or by visiting funds.greenfi.com. The Prospectus is incorporated by reference into this SAI.<br>

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### **Table of Contents**
 ***---

| | |
|:---|:---|
| description of the trust and the fund | 2 |
| additional information about the fund's investments | 2 |
| shares of the fund | 9  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; management of the trust<br> The Board of Trustees<br>| 10 <br> 10  |
| code of ethics | 14 |
| distribution | 14 |
| control persons and principal holders of securities | 15 |
| investment advisory and other services | 15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Investment Adviser<br> The Investment Sub-Adviser<br> Fund Services<br> Independent Registered Public Accounting Firm<br>| 15<br> 16 <br> 18 <br> 19  |
| brokerage allocation and other practices | 19 |
| determination of share price | 20 |
| redemption in-kind | 21 |
| tax consequences | 21 |
| proxy voting policies and procedures | 25 |
| portfolio holdings disclosure policy | 26 |
| abandoned account policy | 27 |
| privacy notice | 28 |
| financial statements | 29 |
| appendix a – proxy voting policies | 30 |

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***

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### description of the trust and the fund
GreenFi Funds Trust (the "Trust") is an open-end management investment company established as a Delaware statutory trust by an Agreement and Declaration of Trust dated October 16, 2013 (the "Trust Agreement"). The Trust Agreement permits the Board of Trustees ("Trustees," "Board of Trustees" or "Board") to authorize and issue an unlimited number of shares of beneficial interest of separate series. This Statement of Additional Information ("SAI") relates to the GreenFi Redwood Fund (the "Fund"), a series of the Trust. The investment adviser to the Fund is Mission Investment Advisors LLC (the "Adviser"). The Fund is sub-advised by UBS Asset Management (Americas) LLC (the "Sub-Adviser"). The Prospectus describes the Fund's investment objectives and principal investment strategies, as well as the principal investment risks of the Fund.

The Fund is a diversified fund as defined by the Investment Company Act of 1940, as amended (the "1940 Act").

The Fund does not issue share certificates. All shares are held in non-certificated form registered on the books of the Fund and the transfer agent for the account of the shareholder. Each share of a series represents an equal proportionate interest in the assets and liabilities belonging to that series and is entitled to such dividends and distributions out of income belonging to the series as are declared by the Trustees. The shares do not have cumulative voting rights or any preemptive or conversion rights, and the Trustees have 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 the shareholders of any other series are in no way affected. In case of any liquidation of a series, the shareholders 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. Any general expenses of the Trust not readily identifiable as belonging to a particular series are allocated by or under the direction of the Trustees in such manner as the Trustees determine to be fair and equitable. No shareholder is liable to further calls or to assessment by the Trust without his or her express consent.

Any Trustee of the Trust may be removed at any meeting of the shareholders by a vote of at least two-thirds of the outstanding shares of the Trust. The Trust does not hold an annual meeting of shareholders. When matters are submitted to shareholders for a vote, each shareholder is entitled to one vote for each whole share he or she owns and fractional votes for fractional shares he or she owns. All shares of the Fund have equal voting and liquidation rights. The Trust Agreement can be amended by the Trustees, except that any amendment that adversely affects the rights of shareholders must be approved by the shareholders affected. All shares of the Fund are subject to involuntary redemption if the Trustees determine 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.

For information concerning the purchase and redemption of shares of the Fund, see "How to Purchase Shares" and "How to Redeem Shares" in the Prospectus. For a description of the methods used to determine the share price and value of the Fund's assets, see "Pricing Your Shares" in the Prospectus and "Determination of Share Price" in this SAI.

### additional information about the fund's investments

#### Investment Strategies and Risks
The Fund's principal investment strategies and risks are discussed in the Prospectus. The Fund may invest in other registered investment companies ("Underlying Funds"). This section contains a more detailed discussion of some of the investments and techniques the Fund, along with the associated risks. Additional non-principal strategies and risks are also discussed here.

<u>General Investment Risks</u>

All investments in securities and other financial instruments involve a risk of financial loss. No assurance can be given that the Fund's investment program will be successful. Investors should carefully review the descriptions of the Fund's investments and its risks described in the Prospectus and this SAI.

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<u>Equity Securities</u>

Equity securities consist of common stock, securities convertible into common and preferred stock, rights, warrants, income trusts, and MLPs. Common stocks, the most familiar type, represent an equity (ownership) interest in a corporation. Warrants are options to purchase equity securities at a specified price for a specific time period. Rights are similar to warrants, but normally have a short duration and are distributed by the issuer to its shareholders. Convertible securities are bonds, debentures, notes, preferred stocks that may be converted or exchanged into shares of the underlying common stock at a stated exchange ratio. Income trusts and MLP units are equity investments and may lack diversification as such trusts are primarily invested in oil and gas, pipelines, and other infrastructures whereas MLPs are primarily engaged in the transportation, storage, processing, refining, marketing, exploration, productions, and mining of minerals and natural resources. Although equity securities have a history of long-term growth in value, their prices fluctuate based on changes in a company's financial condition and on overall market and economic conditions. Investments in equity securities are subject to inherent market risks and fluctuations in value due to earnings, economic conditions and other factors beyond the control of an adviser. As a result, the return of individual securities will fluctuate. The value of individual securities may not increase as much as the market as a whole and some undervalued securities may continue to be undervalued for long periods of time. Although profits on some individual securities may be realized quickly, it is not expected that most investments will appreciate rapidly.

<u>Fixed Income Securities</u>

Yields on fixed income securities, which include preferred stock (discussed in more detail below), are dependent on a variety of factors, including the general conditions of the money market and other fixed income securities markets, the size of a particular offering, the maturity of the obligation and the rating of the issue. An investment in the Fund will be subjected to risk even if all fixed income securities in the portfolio are paid in full at maturity.

The corporate debt securities in which the Fund may invest include corporate bonds and notes and short-term investments such as commercial paper and variable rate demand notes. Commercial paper (short-term promissory notes) is issued by companies to finance their or their affiliate's current obligations and is frequently unsecured. Variable and floating rate demand notes are unsecured obligations redeemable upon not more than 30 days' notice. These obligations include master demand notes that permit investment of fluctuating amounts at varying rates of interest pursuant to a direct arrangement with the issuer of the instrument. The issuer of these obligations often has the right, after a given period, to prepay the outstanding principal amount of the obligations upon a specified number of days' notice. These obligations generally are not traded, nor generally is there an established secondary market for these obligations. To the extent a demand note does not have a seven-day or shorter demand feature and there is no readily available market for the obligation, it is treated as an illiquid security.

Certain types of debt securities, such as mortgage-backed securities, have yield and maturity characteristics corresponding to underlying assets. Unlike traditional debt securities, which may pay a fixed rate of interest until maturity when the entire principal amount comes due, payments on certain mortgage-backed securities may include both interest and a partial payment of principal. Besides the scheduled repayment of principal, payments of principal may result from the voluntary prepayment, refinancing, or foreclosure of the underlying mortgage loans.

The following are some of the risks associated with fixed income debt securities:

*Interest Rate Risk.* Debt securities have varying levels of sensitivity to changes in interest rates. In general, the price of a debt security can fall when interest rates rise and can rise when interest rates fall. Securities with longer maturities and mortgage securities can be more sensitive to interest rate changes, and they usually offer higher yields to compensate investors for the greater risks. The longer the maturity of the security, the greater the impact a change in interest rates could have on the security's price. In addition, short-term and long-term interest rates do not necessarily move in the same amount or the same direction. Short-term securities tend to react to changes in short-term interest rates and long-term securities tend to react to changes in long-term interest rates.

*Credit Risk.* Changes in the ability of an issuer to make payments of interest and principal and in the markets' perception of an issuer's creditworthiness will affect the market value of the debt securities of that issuer. Moreover, fixed income securities may have speculative characteristics and changes in economic conditions or other circumstances are more likely to lead to a weakened capacity of issuers to make principal or interest payments, as compared to issuers of more highly rated securities.

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*Extension Risk.* The Fund is subject to the risk that an issuer will exercise its right to pay principal on an obligation held by the Fund (such as mortgage-backed securities) later than expected. This may happen when there is a rise in interest rates. These events may lengthen the duration (i.e. interest rate sensitivity) and potentially reduce the value of these securities.

*Legal Risk.* An issuer's ability to pay on a debt obligation may be adversely affected by the application of law. Obligations of issuers of fixed income securities (including municipal securities) are subject to the provisions of bankruptcy, insolvency, and other laws affecting the rights and remedies of creditors, such as the Federal Bankruptcy Reform Act of 1978. In addition, the obligations of municipal issuers may become subject to laws enacted in the future by Congress, state legislatures, or referenda extending the time for payment of principal and/or interest, or imposing other constraints upon enforcement of such obligations or upon the ability of municipalities to levy taxes.

*Prepayment Risk*. Securities subject to prepayment are less effective than other types of securities as a means of "locking in" attractive long-term interest rates. One reason is the need to reinvest prepayments of principal; another is the possibility of significant unscheduled prepayments resulting from declines in interest rates. These prepayments would have to be reinvested at lower rates. As a result, these securities may have less potential for capital appreciation during periods of declining interest rates than other securities of comparable maturities, although they may have a similar risk of decline in market value during periods of rising interest rates. Prepayments may also significantly shorten the effective maturities of these securities, especially during periods of declining interest rates. Conversely, during periods of rising interest rates, a reduction in prepayments may increase the effective maturities of these securities, subjecting them to a greater risk of decline in market value in response to rising interest rates than traditional debt securities, and, therefore, potentially increasing the volatility the Fund. At times, some of the mortgage-backed securities in which the Underlying Funds may invest will have higher than market interest rates and therefore will be purchased at a premium above their par value. Prepayments may cause losses in securities purchased at a premium, as unscheduled prepayments, which are made at par, will cause the Fund to experience a loss equal to any unamortized premium.

<u>REITs</u>

Investing in REITs exposes the Fund to the risks of owning real estate directly, as well as to risks that relate specifically to the way in which REITs are organized and operated. REITs generally invest directly in real estate, in mortgages, in leases, or in some combination of the foregoing. Operating REITs require specialized management skills and the Fund may bear REIT management expenses. Individual REITs may own a limited number of properties and may concentrate in a particular region or property type. REITs also must satisfy specific requirements of the Internal Revenue Code of 1986, as amended (the "Code") in order to qualify for the tax-free pass through of income.

The Fund will report annually to shareholders the federal income tax status of all distributions made for the preceding year. To the extent such amounts include distributions received from a REIT, they may be based on estimates and be subject to change as REITs do not always have the information available by the time these reports are due and can recharacterize certain amounts after the end of the tax year. As a result, the final character and amount of distributions may differ from that initially reported.

<u>Options</u>

The Fund may invest in covered put and covered call options and write covered put and covered call options on securities in which it may invest directly and that are traded on registered domestic securities exchanges. The writer of a call option, who receives a premium, has the obligation, upon exercise of the option, to deliver the underlying security against payment of the exercise price during the option period. The writer of a put, who receives a premium, has the obligation to buy the underlying security, upon exercise, at the exercise price during the option period.

There are numerous risks associated with transactions in options. The principal factors affecting the market value of an option include supply and demand, interest rates, the current market price of the underlying index or security in relation to the exercise price of the option, the actual or perceived volatility of the underlying index or security, and the time remaining until the expiration date. The premium received for an option written by the Fund is recorded as an asset of the Fund and its obligation under the option contract as an equivalent liability. The Fund then adjusts over time the liability as the market value of the option changes. The value of each written option will be marked to market daily.

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A decision as to whether, when, and how to write call options involves the exercise of skill and judgment, and even a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events.

Options on securities indices are similar to options on securities except that, rather than the right to take or make delivery of securities at a specified price, an option on a securities index gives the holder the right to receive, upon exercise of the option, an amount of cash if the closing level of the securities index upon which the option is based is greater than, in the case of a call, or less than, in the case of a put, the exercise price of the option. This amount of cash is equal to the difference between the closing price of the index and the exercise price of the option expressed in dollars times a specified multiple. The writer of the option is obligated, in return for the premium received, to make delivery of this amount. Unlike options on securities, all settlements are in cash, and gain or loss depends on price movements in the securities market generally (or in a particular industry or segment of the market) rather than price movements in individual securities.

Because the exercise of index options is settled in cash, sellers of index call options cannot provide in advance for their potential settlement obligations by acquiring and holding the underlying securities. When a call option sold by the Fund is exercised or closed out, the Fund may be required to sell portfolio securities or to deliver portfolio securities to the option purchaser to satisfy its obligations when it would not otherwise choose to do so, or the Fund may choose to sell portfolio securities to realize gains to offset the losses realized upon option exercise. Such sales or delivery would involve transaction costs borne by the Fund and may also result in realization of taxable capital gains, including short-term capital gains taxed at ordinary income tax rates, and may adversely impact the Fund's after-tax returns.

<u>Other Derivatives</u>

The Fund also will be subject to credit risk with respect to the counterparties to any over-the-counter derivatives contracts purchased by the Fund. If a counterparty becomes bankrupt or otherwise fails to perform its obligations under a derivative contract, the Fund may experience significant delays in obtaining any recovery under the derivative contract in a bankruptcy or other reorganization proceeding. The Fund may obtain only a limited recovery or may obtain no recovery in such circumstances. Options on securities, futures contracts, and options on currencies may be traded on foreign exchanges. Such transactions may not be regulated as effectively as similar transactions in the United States, may not involve a clearing mechanism and related guarantees, and are subject to the risk of governmental actions affecting trading in, or the prices of, foreign securities. The value of such positions also could be adversely affected by (1) other complex foreign political, legal, and economic factors, (2) lesser availability than in the United States of data on which to make trading decisions, (3) delays in the Adviser's ability to act upon economic events occurring in foreign markets during non-business hours in the United States, (4) the imposition of different exercise and settlement terms and procedures and margin requirements than in the United States, and (5) lesser trading volume. The Adviser, with respect to the Fund, has filed a notice with the National Futures Association to claim an exclusion from the definition of the term "commodity pool operator" under the Commodity Exchange Act, as amended ("CEA"), and therefore, the Adviser is not subject to registration or regulation as a commodity pool operator under the CEA and the rules thereunder**.**

In October 2020, the SEC adopted a rule related to the use of derivatives, short sales, reverse repurchase agreements and certain other transactions by registered investment companies that rescinded and withdrew the guidance of the SEC and its staff regarding asset segregation and cover transactions. The rule requires registered investment companies to trade derivatives and other transactions that create future payment or delivery obligations (except reverse repurchase agreements and similar financing transactions) subject to a value-at-risk ("VaR") leverage limits and derivatives risk management program and reporting requirements. Generally, these requirements apply unless the investment company qualifies as a "limited derivatives user" exception that is included in the rule. Under the rule, when an investment company trades reverse repurchase agreements or similar financing transactions, including certain tender option bonds, it needs to aggregate the amount of indebtedness associated with the reverse repurchase agreements or similar financing transactions with the aggregate amount of any other senior securities representing indebtedness when calculating the investment company's asset coverage ratio or treat all such transactions as derivatives transactions. Reverse repurchase agreements or similar financing transactions aggregated with other indebtedness do not need to be included in the calculation of whether an investment company is a limited derivatives user, but for funds subject to the VaR testing, reverse repurchase agreements and similar financing transactions must be included for purposes of such testing whether treated as derivatives transactions or not. The SEC also provided guidance in connection with adopting the rule regarding use of securities lending collateral that may limit the funds' securities lending activities. These requirements may limit the ability of a fund to use derivatives and reverse repurchase agreements and similar financing transactions as part of its investment strategies. These requirements may increase the cost of a fund's investments and cost of doing business, which could adversely affect investors.

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<u>Preferred Stock</u>

Preferred stocks, like some debt obligations, are generally fixed income securities. Shareholders of preferred stocks normally have the right to receive dividends at a fixed rate when and as declared by the issuer's board of directors, but do not participate in other amounts available for distribution by the issuing corporation. Dividends on the preferred stock may be cumulative, and all cumulative dividends usually must be paid prior to shareholders of common stock receiving any dividends. Because preferred stock dividends must be paid before common stock dividends, preferred stocks generally entail less risk than common stocks. Upon liquidation, preferred stocks are entitled to a specified liquidation preference, which is generally the same as the par or stated value, and are senior in right of payment to common stock. Preferred stocks are, however, equity securities in the sense that they do not represent a liability of the issuer and, therefore, do not offer as great a degree of protection of capital or assurance of continued income as investments in corporate debt securities. Preferred stock dividends are not guaranteed and management can elect to forego the preferred dividend, resulting in a loss to the Fund. Preferred stocks are generally subordinated in right of payment to all debt obligations and creditors of the issuer, and convertible preferred stocks may be subordinated to other preferred stock of the same issue. Preferred stocks lack voting rights and the adviser may incorrectly analyze the security, resulting in a loss to the Fund.

<u>Rights</u>

Rights are usually granted to existing shareholders of a corporation to subscribe to shares of a new issue of common stock before it is issued to the public. The right entitles its holder to buy common stock at a specified price. Rights have similar features to warrants, except that the life of a right is typically much shorter, usually a few weeks. The risk of investing in a right is that the right may expire prior to the market value of the common stock exceeding the price fixed by the right.

<u>Initial Public Offerings ("IPOs")</u>

The Fund may purchase shares issued as part of, or a short period after, a company's IPO, and may dispose of those shares shortly after their acquisition. The purchase of shares issued in IPOs exposes the Fund to the risks associated with organizations that have little operating history as public companies, as well as to the risks associated with the sectors of the market in which the issuer operates. Further, the absence of a prior public market, unseasoned trading, the small number of shares usually available for trading or the possibility of dilution of share value by issuance of additional shares may affect the market value of IPO shares. The market for IPO shares has been volatile, and share prices of newly public companies have fluctuated significantly over short periods of time.

<u>Inflation/Deflation Risk</u>

The Fund may be subject to inflation and deflation risk. Inflation risk is the risk that the present value of assets or income from the Fund's investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund's assets can decline. Deflation risk is the risk that prices throughout the economy decline over time. Deflation may have an adverse effect on the creditworthiness of issuers and may make issuer default more likely, which may result in a decline in the value of the Fund's assets.

<u>Political, Social, and Economic Uncertainty Risk</u>.

Social, political, economic, and other conditions and events (such as natural disasters, epidemics and pandemics, terrorism, conflicts and social unrest) that occur from time to time will create uncertainty and may have significant impacts on issuers, industries, governments, and other systems, including the financial markets, to which the Fund, and the issuers in which it invests, are exposed. As global systems, economies and financial markets are increasingly interconnected, events that once had only local impact are now more likely to have regional or even global effects. Events that occur in one country, region, or financial market will, more frequently, adversely impact issuers in other countries, regions, or markets, including in established markets such as the United States. These impacts can be exacerbated by failures of governments and societies to adequately respond to an emerging event or threat.

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Uncertainty can result in or coincide with: increased volatility in the global financial markets, including those related to equity and debt securities, loans, credit, derivatives and currency; a decrease in the reliability of market prices and difficulty in valuing assets; greater fluctuations in currency exchange rates; increased risk of default (by both government and private issuers); further social, economic, and political instability; nationalization of private enterprises; greater governmental involvement in the economy or in social factors that impact the economy; greater, less or different governmental regulation and supervision of the securities markets and market participants and increased, decreased or different processes for and approaches to monitoring markets and enforcing rules and regulations by governments or self-regulatory organizations; limited, or limitations on the, activities of investors in such markets; controls or restrictions on foreign investment, capital controls and limitations on repatriation of invested capital; inability to purchase and sell assets or otherwise settle transactions (i.e., a market freeze); unavailability of currency hedging techniques; substantial, and in some periods extremely high, rates of inflation, which can last many years and have substantial negative effects on markets as well as the economy as a whole; recessions; and difficulties in obtaining and/or enforcing legal judgments.

A widespread health crisis, such as an infectious disease outbreak, epidemic or pandemic, could cause substantial market volatility, securities exchange suspensions, restrictions or closures, and other deleterious effects, any of which could disrupt fund operations and adversely affect fund performance. For example, the COVID-19 pandemic resulted in, among other consequences, the closing of borders, the imposition of travel restrictions, enhanced health screenings, the need for accelerated acute healthcare service preparation and delivery, disruptions and delays in healthcare services, quarantines and "shelter at home" orders, restrictions on gatherings of people, event and service cancellations, business closures, disruptions to supply chains and customer activity, lower consumer demand, as well as general heightened uncertainty, that negatively impacted the global economic environment. Future health crises could adversely affect the economies, the financial performance of individual issuers and sectors, and the health of the markets generally in potentially significant and unforeseen ways.

War, terrorism, and related responses and events could cause substantial market volatility, disrupt fund operations and adversely affect fund performance. For example, Russia's invasion of Ukraine in February, 2022, the resulting responses by the United States and other countries, and the potential for wider conflict, increased and may further increase in the future volatility and uncertainty in financial markets worldwide. The United States and other countries have imposed broad-ranging economic sanctions on Russia and Russian entities and individuals, and may impose additional sanctions, including on other countries that provide military or economic support to Russia. Additionally, armed conflict between Israel and Hamas and other militant groups in the Middle East and related events could cause significant market disruptions and volatility. These events and other similar events could negatively affect the value and liquidity of the Fund's investments.

Although it is impossible to predict the precise nature and consequences of these events, or of any political or policy decisions and regulatory changes occasioned by emerging events or uncertainty on applicable laws or regulations that impact the Fund's investments, it is clear that these types of events will impact the Fund and the issuers in which it invests. The issuers in which the Fund invests could be significantly impacted by emerging events and uncertainty of this type and the Fund will be negatively impacted if the value of its portfolio holdings decrease as a result of such events and the uncertainty they cause. There can be no assurance that emerging events will not cause the Fund to suffer a loss of any or all of its investments or interest thereon. The Fund will also be negatively affected if the operations and effectiveness of the Adviser, its affiliates, the issuers in which the Fund invests or its key service providers are compromised or if necessary or beneficial systems and processes are disrupted.

<u>Temporary Defensive Position</u>

From time to time, the Fund may take temporary defensive positions that are inconsistent with the Fund's principal investment strategies, in attempting to respond to adverse market, economic, political, or other conditions. For example, the Fund may hold all or a portion of its assets in money market instruments (high quality income securities with maturities of less than one year), securities of money market funds or U.S. Government repurchase agreements. The Fund may also invest in such investments at any time to maintain liquidity or pending selection of investments in accordance with its policies. As a result, the Fund may not achieve its investment objective.

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#### Investment Restrictions
**<u>Fundamental Investment Limitations</u>.** The investment limitations described below have been adopted by the Board with respect to the Fund and are fundamental ("Fundamental"), i.e., they may not be changed without the affirmative vote of a majority of the outstanding voting securities of the Fund. As used in the Prospectus and the SAI, the term "majority" of the outstanding voting securities of the Fund means the lesser of: (1) 67% or more of the outstanding voting securities of the Fund present at a meeting, if the holders of more than 50% of the outstanding voting securities of the Fund are present or represented at such meeting; or (2) more than 50% of the outstanding voting securities of the Fund. Other investment practices, which may be changed by the Board without the approval of shareholders to the extent permitted by applicable law, regulation or regulatory policy, are considered non-fundamental ("Non-Fundamental").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Borrowing Money</u>. The Fund will not borrow money, except: (a) from a bank, provided that immediately after such borrowing there is an asset coverage of 300% for all borrowings of the Fund; or (b) from a bank or other persons for temporary purposes only, provided that such temporary borrowings are in an amount not exceeding 5% of the Fund's total assets at the time when the borrowing is made. This limitation does not preclude the Fund from entering into reverse repurchase transactions, provided that the Fund has asset coverage of 300% for all borrowings and reverse repurchase commitments of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Senior Securities.</u> The Fund will not issue senior securities. This limitation is not applicable to activities that may be deemed to involve the issuance or sale of a senior security by the Fund, provided that the Fund's engagement in such activities is consistent with or permitted by the 1940 Act, the rules and regulations promulgated thereunder or interpretations of the SEC or its staff.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Underwriting.</u> The Fund will not act as underwriter of securities issued by other persons. This limitation is not applicable to the extent that, in connection with the disposition of portfolio securities (including restricted securities), the Fund may be deemed an underwriter under certain federal securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Real Estate</u>. The Fund will not purchase or sell real estate. This limitation is not applicable to investments in marketable securities that are secured by or represent interests in real estate. This limitation does not preclude the Fund from investing in mortgage-related securities or investing in companies engaged in the real estate business or that have a significant portion of its assets in real estate (including real estate investment trusts).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Commodities.</u> The Fund will not purchase or sell commodities unless acquired as a result of ownership of securities or other investments. This limitation does not preclude the Fund from purchasing or selling options or futures contracts, from investing in securities or other instruments backed by commodities or from investing in companies, which are engaged in a commodities business or have a significant portion of its assets in commodities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Loans.</u> The Fund will not make loans to other persons, except: (a) by loaning portfolio securities (limited at any given time to no more than one-third of the Fund's total assets); (b) by engaging in repurchase agreements; or (c) by purchasing or holding non-publicly offered debt instruments in accordance with its investment objectives and policies. For purposes of this limitation, the term "loans" shall not include the purchase of a portion of an issue of publicly distributed bonds, debentures or other securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Concentration.</u> The Fund will invest no more than 25% of its total assets in a particular industry or group of industries. This limitation is not applicable to investments in obligations issued or guaranteed by the US government, its agencies and instrumentalities or repurchase agreements with respect thereto.

With respect to the percentages adopted by the Trust as maximum limitations on its investment policies and limitations, an excess above the fixed percentage will not be a violation of the policy or limitation unless the excess results immediately and directly from the acquisition of any security or the action taken. This paragraph does not apply to the borrowing policy set forth in paragraph 1 above.

Notwithstanding any of the foregoing limitations, any investment company, whether organized as a trust, association or corporation, or a personal holding company, may be merged or consolidated with or acquired by the Trust, provided that if such merger, consolidation or acquisition results in an investment in the securities of any issuer prohibited by said paragraphs, the Trust shall, within 90 days after the consummation of such merger, consolidation or acquisition, dispose of all of the securities of such issuer so acquired or such portion thereof as shall bring the total investment therein within the limitations imposed by said paragraphs above as of the date of consummation.

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**Non-Fundamental.** The following limitations have been adopted by the Trust with respect to the Fund and are Non-Fundamental.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Pledging.</u> 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 borrowings described in fundamental investment limitation (1) above. Margin deposits, security interests, liens and collateral arrangements with respect to transactions involving options, futures contracts, short sales 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Borrowing.</u> The Fund will not purchase any security while borrowings (including reverse repurchase agreements) representing more than one-third of its total assets are outstanding.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Margin Purchases.</u> 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 options, futures contracts, short sales and other permitted investment techniques.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Illiquid Investments.</u> The Fund will not invest more than 15% of its net assets in securities for which there are legal or contractual restrictions on resale and other illiquid securities.

### shares of the fund
The Fund offers one class of shares. See "Fees and Expenses" in the Fund's "Summary" in the Prospectus.

The Fund has adopted a distribution and service plan allowed under Rule 12b-1 under the 1940 Act ("Shareholder Services Plan") that authorizes the Fund to pay distribution and service fees for the sale of its shares and for services provided to shareholders. Under the Shareholder Services Plan, the service providers may be entitled to receive aggregate fees for shareholder services not exceeding 25 basis points (0.25%) of the Fund's average daily net assets in return for providing a broad range of shareholder services. Although the Shareholder Services Plan allows the Fund to pay 0.25% of the Fund's average daily net assets, the Board of Trustees has only authorized the Fund to pay the amount charged by the Distributor (as defined below) and related offering costs.

For the last three fiscal years, the Fund paid the following amounts under the Plan:

---

| | |
|:---|:---|
| **Fiscal Year Ended September 30,**<br>| **GreenFi Redwood Fund**<br>|
| **2025**<br>| $15050<br>|
| **2024**<br>| $10865<br>|
| **2023**<br>| $0\*<br>|

---

*\*Although the Fund is allowed to pay annual 12b-1 expenses of 0.25% under the Shareholder Services Plan, the Board of Trustees changed the authorized amount that the Fund may pay to the amount charged by the Distributor and related offerings costs, which resulted in a reduction in the amount paid under the Plan.*

The following chart describes the dollar amount and the manner in which amounts accrued by the Fund under the Plan were spent during the past fiscal year.

---

| | |
|:---|:---|
| | **GreenFi Redwood Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp; Advertising | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Printing and Mailing of Prospectuses to Other than Current Shareholders | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compensation to Underwriters | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compensation to Broker-Dealers | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Compensation to Sales Personnel | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Interest, Carrying, or Other Financing Charges | $0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Other | $15050 |

---

------

#### Online Investor Requirements
The Fund is designed for online investors and requires its shareholders to consent to receive all Fund shareholder information electronically. Shareholder information includes, but is not limited to, prospectuses, shareholder reports, confirmations, Form 1099 tax statements, and proxy solicitations. Electronic delivery helps the Fund reduce its operating expenses and increase returns to investors.

When you become a Fund shareholder, you certify that you have access to the Internet and a current email account, you acknowledge that you have the sole responsibility for providing a correct and operational email address, and you agree to notify the Fund immediately if your email address changes. If you revoke your consent to receive shareholder information electronically, fail to maintain an email account or fail to notify the Fund immediately if your email address changes, the Fund will send communications to you by regular mail.

#### How to Purchase Shares
For information about opening an account and purchasing shares of the Fund, please visit funds.greenfi.com available 24 hours a day. Please note that your dividend and capital gain distributions will be automatically reinvested unless you indicate otherwise.

#### How to Redeem Shares
You may redeem all or part of your investment in the Fund on any day that the Fund is open for business, subject to certain restrictions described below. Redemption requests received by the Fund before the close of regular trading on the NYSE (normally 4:00 p.m. ET) will be effective that day. Redemption requests received by the Fund after the close of regular trading on the NYSE are processed at the NAV determined on the following business day. Shares of the Fund may only be redeemed through funds.greenfi.com.

#### Additional Purchase and Redemption Information
Generally, all purchases must be made in cash. However, the Fund reserves the right to accept payment in readily marketable securities instead of cash in accordance with procedures approved by the Board of Trustees. If payment is made in securities, the Fund will value the securities in the same manner in which it computes its NAV. Generally, all redemptions will be for cash. However, if you redeem shares worth more than the lesser of $250,000 or 1% of the value of the nest assets of the Fund, the Fund reserves the right to pay part or all of your redemption proceeds in readily marketable securities instead of cash in accordance with procedures approved by the Fund's Board of Trustees. If payment is made in securities, the Fund will value the securities selected in the same manner in which it computes its NAV. This process minimizes the effect of large redemptions on the Fund and its remaining shareholders.

The Fund may suspend the right of redemptions or postpone payment of redemption proceeds, if permitted by the 1940 Act: (i) for any period during which the NYSE is closed or trading on the NYSE is restricted; (ii) for any period during which an emergency exists as a result of which the Fund's disposal of its portfolio securities is not reasonably practicable, or it is not reasonably practicable for the Fund to fairly determine the value of its net assets; or (iii) for such other periods as the Securities and Exchange Commission may by order permit for the protection of the Fund's shareholders.

### management of the trust

#### The Board of Trustees
The Board of Trustees supervises the business activities of the Trust and appoints the officers. Each Trustee serves until the termination of the Trust unless the Trustee dies, resigns, retires or is removed. The Board met seven (7) times during the fiscal year ended September 30, 2025.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br> **Name, Age<br> and Address**<br>| <br> **Position<br> held with<br> Fund or Trust**<br>| <br> **Length of Time Served**<br>| <br> **Principal Occupation<br> During Past 5 Years**<br>| <br> **Number of Portfolios in Fund Complex Overseen by Trustee**<br>| <br> **Other Directorships<br> Held by Trustee<br> During Past 5 Years**<br>|
| <br> **Independent Trustees** | <br> **Independent Trustees** | <br> **Independent Trustees** | <br> **Independent Trustees** | <br> **Independent Trustees** | <br> **Independent Trustees** |
| <br> Coby A. King<br> (1960)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Independent Trustee<br>| <br> Since 01/2016<br>| <br> President and Chief Executive Officer of High Point Strategies, LLC (Public Affairs Consulting) since 2013.<br>| <br> 1<br>| <br> Treasurer of the Board, Valley Industry & Commerce Association (VICA); Chair, Executive Committee, Angeles Chapter, Sierra Club.<br>|
| <br> David L. Kingsdale<br> (1963)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Chairman and Independent Trustee<br>| <br> Chair since 11/2023; Trustee Since 10/2014<br>| <br> Chief Executive Officer of Millennium Dance Media, LLC since 2010; Owner of DLK, Inc. (media consulting agency) since 2005; Principal of King's Ransom, LLC (mergers and acquisitions) 06/2021-present; Head of Acquisitions, Acceleration LLC, 05/2018-05/2021.<br>| <br> 1<br>| <br> The Giving Back Fund (nonprofit sector); Prime Access Capital (financial services).<br>|
| <br> **Interested Trustee\*** | <br> **Interested Trustee\*** | <br> **Interested Trustee\*** | <br> **Interested Trustee\*** | <br> **Interested Trustee\*** | <br> **Interested Trustee\*** |
| <br> Samantha Lovell<br> (1983)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Interested Trustee<br>| <br> Since 11/2024<br>| <br> Vice President, Finance and Administration, Mission Financial Partners, LLC since 2024; Chief Financial Officer and Secretary, Mission Investment Advisors, LLC since 2023. Previously, Senior Director, Financial Planning and Analysis, Aspiration Partners, Inc. (July 2022 – December 2023); Director Financial Planning and Analysis, Aspiration Partners, Inc. (February 2022 – July 2022); Senior Finance Business Partner, BT Americas Inc (July 2017 – February 2022).<br>| <br> 1<br>|  |
| <br> **\*Basis of Interestedness.** Ms. Lovell is an Interested Trustee because she is an officer of Mission Investment Advisors LLC, the investment adviser to the Fund. | <br> **\*Basis of Interestedness.** Ms. Lovell is an Interested Trustee because she is an officer of Mission Investment Advisors LLC, the investment adviser to the Fund. | <br> **\*Basis of Interestedness.** Ms. Lovell is an Interested Trustee because she is an officer of Mission Investment Advisors LLC, the investment adviser to the Fund. | <br> **\*Basis of Interestedness.** Ms. Lovell is an Interested Trustee because she is an officer of Mission Investment Advisors LLC, the investment adviser to the Fund. | <br> **\*Basis of Interestedness.** Ms. Lovell is an Interested Trustee because she is an officer of Mission Investment Advisors LLC, the investment adviser to the Fund. | <br> **\*Basis of Interestedness.** Ms. Lovell is an Interested Trustee because she is an officer of Mission Investment Advisors LLC, the investment adviser to the Fund. |

---

---

| | | | |
|:---|:---|:---|:---|
| <br> **Name and<br> Date of Birth**<br>| <br> **Position held with<br> Funds or Trust**<br>| <br> **Length<br> of Time Served**<br>| <br> **Principal Occupation<br> During Past 5 Years**<br>|
| <br> **Officers** | <br> **Officers** | <br> **Officers** | <br> **Officers** |
| <br> Tim Newell<br> (1960)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> President and Principal Executive Officer<br>| <br> Since 09/2023<br>| <br> Chief Executive Officer, Mission Financial Partners, LLC (January 2024 – present); Chief Executive Officer, Mission Investment Advisor, LLC since December 2023. Previously, Chief Executive Office, Aspiration Fund Adviser, LLC (October 2023 – November 2024). Previously, Chief Operating Officer, Aspiration Partners, Inc. (November 2022 – December 2023); Chief Innovation Officer, Aspiration Partners, Inc. (June 2022 – October 2022); President, QuoVadis Technologies (April 2019 – April 2022); Director, Financial Products, Tesla (February 2017 – April 2019).<br>|
| <br> Samantha Lovell<br> (1983)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Treasurer and Principal Accounting Officer<br>| <br> Since 09/2023<br>| <br> Vice President, Finance and Administration, Mission Financial Partners, LLC since January 2024; Chief Financial Officer and Secretary, Mission Investment Advisor, LLC since December 2023. Previously, Senior Director, Financial Planning and Analysis, Aspiration Partners, Inc (July 2022 – December 2023); Director Financial Planning and Analysis, Aspiration Partners, Inc. (February 2022 – July 2022); Senior Finance Business Partner, BT Americas Inc (July 2017 – February 2022).<br>|

---

------

---

| | | | |
|:---|:---|:---|:---|
| <br> **Name and<br> Date of Birth**<br>| <br> **Position held with<br> Funds or Trust**<br>| <br> **Length<br> of Time Served**<br>| <br> **Principal Occupation<br> During Past 5 Years**<br>|

---

---

| | | | |
|:---|:---|:---|:---|
| <br> Matthew Bergin<br> (1970)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Principal Financial Officer\*<br>| <br> Since 09/2023<br>| <br> Chief Operating Officer, Mission Financial Partners since January 2023; Chief Operating Officer, Mission Investment Advisor, LLC since December 2023. Previously, Chief Executive Officer, Aspiration Financial, LLC (January 2023 – November 2024); Principal Operations Officer, Aspiration Financial, LLC (March 2021 – January 2023); President and Chief Executive Officer, Ustocktrade Securities, Inc. (December 2016 – July 2020).<br>|
| <br> Eimile Moore<br> 1969<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Chief Compliance Officer<br>| <br> Since 12/2025<br>| <br> Director, Adviser Compliance Associates, LLC (ACA Group) since 2011.<br>|
| <br> Tracie A. Coop<br> (1976)<br> 116 South Franklin Street<br> Rocky Mount, NC 27804<br>| <br> Secretary<br>| <br> Since 12/2019<br>| <br> General Counsel, The Nottingham Company since 2019; Vice President and Managing Counsel, State Street Bank and Trust Company from 2015 to 2019.<br>|
| <br> *\*Mr. Bergin previously served as Treasurer and Principal Accounting Officer to the Trust from 12/2022 – 09/2023.* | <br> *\*Mr. Bergin previously served as Treasurer and Principal Accounting Officer to the Trust from 12/2022 – 09/2023.* | <br> *\*Mr. Bergin previously served as Treasurer and Principal Accounting Officer to the Trust from 12/2022 – 09/2023.* | <br> *\*Mr. Bergin previously served as Treasurer and Principal Accounting Officer to the Trust from 12/2022 – 09/2023.* |

---

The table below sets forth, as of December 31, 2025, the dollar range of equity securities beneficially owned by each Trustee in the Fund, and the aggregate dollar range of equity securities in the Fund complex.

A = None; B = $1-$10,000; C= $10,001-$50,000; D = $50,001-$100,000; and E = over $100,000.

---

| | | |
|:---|:---|:---|
| <br> **<br>Name of Trustee**<br>| <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Dollar Range of Equity Securities in the Fund**<br>| <br> **Aggregate Dollar Range of Equity Securities in** <br> **All Funds within the Trust Overseen by Trustee**<br>|
| <br> Independent Trustees | <br> Independent Trustees | <br> Independent Trustees |
| <br> Coby King<br>| <br> C<br>| <br> C<br>|
| <br> David Kingsdale<br>| <br> A<br>| <br> A<br>|
| <br> Interested Trustees | <br> Interested Trustees | <br> Interested Trustees |
| <br> Samantha Lovell<br>| <br> A<br>| <br> A<br>|

---

#### Trustee Compensation
Trustees who are deemed "interested persons" of the Trust receive no compensation from the Fund. Each Independent Trustee receives $40,000 per year, plus $10,000 that is donated to a charity for environmental causes in the Independent Trustee's name. The Chairman of the Board also receives an additional $5,250 per year. The Trust has no retirement or pension plans. During the fiscal year ended September 30, 2025, the Trustees received the amounts set forth in the following table for services to the Fund and the Fund Complex.

---

| | | |
|:---|:---|:---|
| <br> **Name of Trustee**<br>| <br> **Aggregate Compensation<br> from the Fund**<br>| <br> **Total Compensation<br> from the Fund<br> and Fund Complex**<br>|
| <br> Independent Trustees | <br> Independent Trustees | <br> Independent Trustees |
| <br> Coby King<br>| <br> $50000<br>| <br> $50000<br>|
| <br> David Kingsdale<br>| <br> $54522.41<br>| <br> $54522.41<br>|
| <br> Interested Trustees | <br> Interested Trustees | <br> Interested Trustees |
| <br> Samantha Lovell<br>| <br> $0<br>| <br> $0<br>|

---

------

#### Leadership Structure and Board of Trustees
The primary responsibility of the Board of Trustees is to represent the interests of the shareholders of the Trust and to provide oversight of the management of the Trust. There are three Trustees, two of whom are considered not to be "interested persons" (as that term is defined in the 1940 Act) of the Fund, the Adviser or the Fund's Sub-Adviser ("Independent Trustees") in accordance with the 1940 Act and the rules adopted by the SEC. The Chairman of the Board of Trustees is David Kingsdale, who is an Independent Trustee. The Board has adopted Fund Governance Guidelines to provide guidance for effective leadership. The guidance sets forth criteria for Board membership, trustee orientation and continuing education and annual trustee evaluations. The Board reviews quarterly reports from the Investment Adviser and Sub-Adviser providing management services to the Fund, as well as quarterly reports from the Trust's Chief Compliance Officer ("CCO") and other service providers. This process allows the Board to effectively evaluate issues that impact the Trust as a whole as well as issues that are unique to the Fund. The Board has determined that this leadership structure is appropriate to ensure that the regular business of the Board is conducted efficiently while still permitting the Trustees to effectively fulfill their fiduciary and oversight obligations.

The Board reviews its structure and the structure of its committees annually. The Trustees have delegated day to day operations to various service providers whose activities they oversee. The Trustees have also engaged legal counsel that is independent of the Adviser or its affiliates to advise them on matters relating to their responsibilities in connection with the Trust. The Trustees meet separately in an executive session on a quarterly basis and meet separately in executive session with the CCO at least annually. On an annual basis, the Board conducts a self-assessment and evaluates its structure. The Board has two standing committees, the Audit Committee and the Nominating and Governance Committee.

All of the Independent Trustees are members of the Audit Committee. The Audit Committee's function is to oversee the Trust's accounting and financial reporting policies and practices, its internal controls and, as appropriate, the internal controls of certain service providers; to oversee the quality and objectivity of the Trust's financial statements and the independent audit thereof; and to act as a liaison between the Trust's independent registered public accounting firm and the full Board of Trustees. The Audit Committee is able to focus Board time and attention to matters of interest to shareholders and, through its private sessions with the Trust's auditor, CCO and legal counsel, stay fully informed regarding management decisions. The Audit Committee will hold at least one regularly scheduled meeting each fiscal year. The Audit Committee met three (3) times during the fiscal year ended September 30, 2025.

The Nominating and Governance Committee nominates candidates for election to the Board of Trustees, makes nominations for membership on all committees and reviews committee assignments at least annually. The Committee also reviews as necessary the responsibilities of any committees of the Board and whether there is a continuing need for each committee, whether there is a need for additional committees of the Board, and whether committees should be combined or reorganized. The Committee makes recommendations for any such action to the full Board. The Committee also considers candidates for trustees nominated by shareholders. Shareholders may recommend candidates for Board positions by forwarding their correspondence to the Secretary of the Trust at the Trust's address and the shareholder communication will be forwarded to the Committee Chairperson for evaluation. The Committee holds at least one regularly scheduled meeting each fiscal year. All of the Independent Trustees are members of the Committee. The Nominating and Governance Committee met two (2) times during the fiscal year ended September 30, 2025.

#### Board Oversight of Risk
The Fund is subject to a number of risks, including investment, compliance, operational and financial risks, among others. Risk oversight forms part of the Board's general oversight of the Fund and is addressed as part of various Board and committee activities. Day-to-day risk management with respect to the Fund resides with the Adviser, the Sub-Adviser or other service providers, subject to supervision by the Adviser. The Audit Committee and the Board oversee efforts by management and service providers to manage the risk to which the Fund may be exposed. For example, the Board meets with portfolio managers and receives regular reports regarding investment risk. The Board meets with the CCO and receives regular reports regarding compliance and regulatory risks. The Audit Committee meets with the Trust's Treasurer and receives regular reports regarding fund operations and risks related to the valuation, liquidity, and overall financial reporting of the Fund. From its review of these reports and discussions with management, the Board learns in detail about the material risks to which the Fund is exposed, enabling a dialogue about how management and service providers mitigate those risks.

------

Not all risks that may affect the Fund can be identified nor can controls be developed to eliminate or mitigate their occurrence or effects. It may not be practical or cost effective to eliminate or mitigate certain risks, the processes and controls employed to address certain risks may be limited in their effectiveness, and some risks are simply beyond the reasonable control of the Fund or the Adviser, its affiliates, or other service providers. Moreover, it is necessary to bear certain risks (such as investment-related risks) to achieve the Fund's goals. As a result of the foregoing and other factors, the Fund's ability to manage risk is subject to substantial limitations. The Trustees believe that their current oversight approach is an appropriate way to manage risks facing the Fund, whether investment, compliance, financial, or otherwise. The Trustees may, at any time in their discretion, change the manner in which they conduct risk oversight of the Fund.

#### Trustee Attributes
The Board believes each of the Trustees has demonstrated leadership abilities and possesses experience, qualifications, and skills valuable to the Fund. Each of the Trustees has substantial business and professional backgrounds that indicate they have the ability to critically review, evaluate and access information provided to them. Below is additional information concerning each particular Trustee and their attributes. The information provided below, and in the chart above, is not all-inclusive. Many Trustee attributes involve intangible elements, such as intelligence, work ethic, the ability to work together and the ability to communicate effectively, exercise judgment, ask incisive questions, manage people and problems or develop solutions.

***Coby King*** has more than 30 years of experience in law, public affairs, public relations, politics, and strategic communications. His clients include manufacturers, municipalities, and not-for-profit organizations. He serves and has served on numerous government and non-profit boards as diverse as business advocacy organizations and the Sierra Club. Coby brings a strong knowledge of marketing, government, and long-term strategy to the Trust.

***David Kingsdale*** has more than 25 years of experience as an entrepreneur and investor. He has built numerous successful companies and worked in the hedge fund industry. Mr. Kingsdale has been an active board member of both for-profit and non-profit enterprises. He combines a large-scale vision with a strong strategic understanding of managing growing enterprises.

***Samantha Lovell*** has more than 20 years of experience across telecommunications, financial services, and voluntary carbon markets. She has led finance organizations for both private and public companies with a focus on business insight, leveraging technology, and internal control.

### code of ethics
The Trust, the Adviser, the Sub-Adviser, and the Distributor (as defined below) have each adopted a Code of Ethics under Rule 17j-1 of the 1940 Act. The personnel subject to the Code of Ethics are permitted to invest in securities, including securities that may be purchased or held by the Fund. Shareholders may obtain a copy of each Code of Ethics from the SEC's EDGAR website, available at http://www.sec.gov, or by calling the Fund at (800) 683-8529.

### distribution

#### Financial Intermediaries
The Fund may enter into agreements with financial intermediaries under which the Fund pays the financial intermediaries for services, such as networking, sub-transfer agency and/or omnibus recordkeeping. Payments made pursuant to such agreements generally are based on either (1) a percentage of the average daily net assets of clients serviced by such financial intermediaries, 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, shareholder servicing fees that a financial intermediary may be receiving under an agreement with Capital Investment Group, Inc. ("Distributor"). The Adviser may pay a portion of the fees for networking, sub-transfer agency, and/or omnibus accounting at its own expense and out of its legitimate profits.

------

#### Payment of Additional Cash Compensation
On occasion, the Adviser may make payments out of its resources and profits to financial intermediaries as incentives to market the Fund, to cooperate with the Adviser's promotional efforts, or in recognition of the provision of administrative services and marketing and/or processing support. These payments are often referred to as "additional cash compensation" and are in addition to the sales charges and payments to financial intermediaries as discussed in above. The payments are made pursuant to agreements between financial intermediaries and the Adviser and do not affect the price investors pay to purchase shares of the Fund, the amount the Fund will receive as proceeds from such sales, or the amount of other expenses paid by the Fund. Additional cash compensation payments may be used to pay financial intermediaries for: (1) transaction support, including any one-time charges for establishing access to Fund shares on particular trading systems (known as "platform access fees"); (2) program support, such as expenses related to including the Fund in retirement programs, fee-based advisory or wrap fee programs, fund supermarkets, bank or trust company products, and/or insurance programs (e.g., individual or group annuity contracts); (3) marketing support, such as providing representatives of the Adviser access to sales meetings, sales representatives and management representatives; (4) firm support, such as business planning assistance, advertising, and assistance with educating sales personnel about the Fund and shareholder financial planning needs; (5) providing shareholder and administrative services; and (6) providing other distribution-related or asset retention services. Additional cash compensation payments generally are structured as basis point payments on gross or net sales or, in the case of platform access fees, fixed dollar amounts.

In addition to member firms of the Financial Industry Regulatory Authority, Inc. ("FINRA"), the Adviser and Distributor also reserve the ability to make payments, as described above, to other financial intermediaries that sell or provide services to the Fund and its shareholders, such as banks, insurance companies, and plan administrators. These firms may include affiliates of the Adviser. The Adviser, the Distributor, and their affiliates also may pay non-cash compensation to financial intermediaries and their representatives in the form of (1) occasional gifts; (2) occasional meals, tickets or other entertainment; and/or (3) sponsorship support of regional or national conferences or seminars. Such non-cash compensation will be made subject to applicable law.

### control persons and principal holders of securities

#### Control Persons
Shareholders owning more than 25% of the shares of a Fund are considered to "control" that Fund as that term is defined under the 1940 Act. Persons controlling a Fund can determine the outcome of any proposal submitted to the shareholders for approval, including changes to the Fund's fundamental policies or the terms of the Investment Advisory Agreement with the Adviser.

#### Management and Beneficial Ownership
As of December 31, 2025, the Trustees and officers of the Trust as a group owned beneficially (i.e., had direct or indirect voting and/or investment power) less than 1% of the outstanding shares of the Fund. As of December 31, 2025, to the Trust's knowledge, no shareholders owned of record or beneficially 5% or more of the outstanding shares of the Fund. To the extent that any listed shareholder beneficially owns more than 25% of the fund, it may be deemed to "control" the Fund within the meaning of the 1940 Act and may be able to affect the outcome of certain matters presented for a vote of shareholders.

### investment advisory and other services

#### The Investment Adviser
Mission Investment Advisors LLC serves as the investment adviser to the Fund. The Adviser's principal place of business is 1100 Sansome Street, San Francisco, CA 94111. The Adviser was formed in December 2023 for the purpose of advising the Fund, and as of December 31, 2025, had approximately $151 million in assets under management. Under the terms of the Trust's investment advisory agreement with the Adviser ("Investment Advisory Agreement"), the Adviser is subject to the supervision of the Board of Trustees, provides or arranges to be provided to the Fund such investment advice as it deems advisable and will furnish or arrange to be furnished a continuous investment program for the Fund consistent with the Fund's investment objective and policies.

------

The Adviser is entitled under the Advisory Agreement to receive an advisory fee, quarterly in arrears, from the Fund at an annual rate of 0.50% of the Fund's average daily net assets. Under the previous advisory agreement, the previous investment adviser was entitled to an annual advisory fee of 0.00% of the Fund's average daily net assets. The previous investment adviser did not impose a set fee to manage individual advisory accounts with respect to the Fund. Instead, advisory clients were permitted to pay the previous investment adviser a fee in the amount they believe is fair to manage their individual advisory accounts (or "Pay What Is Fair"), ranging from 0% to 2% and only clients of the previous investment adviser were permitted to invest in the Fund. Shareholders in the Fund are no longer required to be clients of the Fund's investment adviser.

For the last three fiscal years, the Fund paid fees for the services of the Advisor in the amounts shown below.

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| | | |
|:---|:---|:---|
| <br> **Fiscal Year Ended September 30,**<br>| <br> **Advisory Fees Incurred**<br>| <br> **Advisory Fees Waived**<br>|
| <br> **2025**<br>| <br> $702,674\*<br>| <br> $0<br>|
| <br> **2024**<br>| <br> N/A<br>| <br> N/A<br>|
| <br> **2023**<br>| <br> N/A<br>| <br> N/A<br>|

---

*\* For the period from October 10, 2024, to September 30, 2025. Prior to October 10, 2024, the Fund had a different investment adviser. From the inception of the Fund until October 10, 2024, the Fund paid no management fees to the previous investment adviser. During this period investors in the Fund were required to be clients of the previous investment adviser. Advisory clients had the option to pay the previous investment adviser a fee in the amount they believed to be fair ranging from 0% to 2.00% of the value of the account, directly to the previous investment adviser.*

The Adviser ensures compliance with the Fund's investment policies and guidelines but has delegated day-to-day investment decisions for the Fund to the Sub-Adviser.

<u>Expense Limitation Agreement.</u> In the interest of limiting expenses of the Fund, the Adviser has entered into an Expense Limitation Agreement with the Trust, pursuant to which the Adviser has agreed to waive or limit its fees and to assume other expenses so that the total annual operating expenses of the Fund (other than brokerage fees and commission, acquired funds fees and expenses, fees and expenses associated with investments in other collective investment vehicles or derivative instruments, borrowing costs, taxes, or extraordinary expenses, such as litigation and indemnification expenses) are limited to 1.35% of the average daily net assets of the Fund for the period ending January 31, 2027. The Expense Limitation Agreement can only be terminated prior to that date by a majority of the Fund's Board of Trustees who are not "interested persons" of the Trust, as defined in the 1940 Act, or a majority vote of the outstanding voting securities of the Trust. It is expected that the Expense Limitation will automatically renew upon the effective date of the Fund's annual update to its registration statement. Any fees or expenses waived or reimbursed by the Adviser are subject to repayment by the Fund within three years following the date on which the waiver or reimbursement occurred if the Fund is able to make the repayment without exceeding its current Maximum Operating Expense Limit or the Maximum Operating Expense Limit in place at the time of the waiver and/or reimbursement. Prior to October 10, 2024, the Maximum Operating Expense Limit was 0.95%.

#### The Investment Sub-Adviser
The Adviser has engaged UBS Asset Management (Americas) LLC to serve as Sub-Adviser to the Fund pursuant to a sub-advisory agreement between the Adviser and the Sub-Adviser. The Sub-Adviser's principal place of business is 1285 Avenue of the Americas, New York, NY 10019. Subject to the authority of the Board of Trustees and oversight by the Adviser, the Sub-Adviser is responsible for management of the Fund's investment portfolio according to the Fund's investment objective, policies and restrictions. The Sub-Adviser is entitled to receive an annual sub-advisory fee, paid by the Adviser – not the Fund – for advisory services provided to the Fund, according to a formula.

------

The Fund does not pay a fee to the Sub-Adviser. The following chart shows the aggregate fees paid to the Sub-Adviser by the Adviser over the past three fiscal years.

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| | | |
|:---|:---|:---|
| | <br> **Total Compensation<br> Received**<br>| <br> **Percentage of Fund's<br> Average Daily Net Assets**<br>|
| <br> September 30, 2025<br>| <br> $238901<br>| <br> 0.17%<br>|
| <br> September 30, 2024<br>| <br> $272222<br>| <br> 0.18%<br>|
| <br> September 30, 2023<br>| <br> $199971<br>| <br> 0.15%<br>|

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<u>Portfolio Manager Holdings</u>

The table below shows the amount of the Fund's equity securities beneficially owned by the portfolio managers as of September 30, 2025, and stated as one of the following ranges: A = None; B = $1-$10,000; C = $10,001-$50,000; D = $50,001-$100,000; E = $100,001-$500,000; F = $500,001-$1,000,000; and G = over $1,000,000.

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| | |
|:---|:---|
| <br> **Name of<br> Portfolio Manager**<br>| <br> **Dollar Range of<br> Equity Securities in the Fund**<br>|
| <br> Alix Foulonneau<br>| <br> A<br>|
| <br> Adam Jokich<br>| <br> A<br>|

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<u>Other Portfolio Manager Information</u>

The portfolio managers also are responsible for managing other account portfolios in addition to the Fund. A portfolio manager's management of other accounts may give rise to potential conflicts of interest in connection with their management of the Fund investments on the one hand and the investments of the other accounts, on the other. The side-by-side management of the Fund and other accounts presents a variety of potential conflicts of interests. For example, a portfolio manager may purchase or sell securities for one portfolio and not another. The performance of securities within one portfolio may differ from the performance of securities in another portfolio. In some cases, another account managed by the same portfolio manager may compensate the Sub-Adviser based on performance of the portfolio held by that account. Performance-based fee arrangements may create an incentive for the Adviser or Sub-Adviser to favor higher fee-paying accounts over other accounts, including accounts that are charged no performance-based fees, in the allocation of investment opportunities. Another potential conflict could arise in instances in which securities considered as investments for the Fund are also appropriate investments for other investment accounts managed by the Adviser or Sub-Adviser.

The Sub-Adviser does manage other accounts and investment vehicles. However, the Sub-Adviser has adopted policies and procedures that seek to mitigate conflicts and to ensure that all clients are treated fairly and equally. Investment decisions for the Fund are made by the Sub-Adviser with a view to achieving its investment objective. Some securities considered for investment by the Fund may also be appropriate for other clients served by the Sub-Adviser. Investment decisions are a product of many factors. Thus, a particular security may be bought or sold for certain clients even though it could have been bought or sold for other clients at the same time. If a purchase or sale of securities consistent with the investment policies of the Fund and one or more of these clients is considered at or about the same time, transactions in such securities will be allocated among the Fund and clients in a manner deemed fair and reasonable by the Sub-Adviser. The Sub-Adviser may aggregate orders for the Fund with simultaneous transactions entered into on behalf of its other clients so long as price and transaction expenses are averaged either for the portfolio transaction or for that day. Client trades are typically aggregated under its trading procedures for similar types of accounts – i.e. those with full discretion, directed brokerage clients, directed investment policy and/or restrictions, and funds with daily cash flow differences (usually mutual funds with daily inflows or outflows such as the Fund). These similar accounts will participate in bunched trades with the price averaged among the accounts. A particular security may be bought for one or more clients when one or more clients are selling the security. In some instances, one client may sell a particular security to another client. It also sometimes happens that two or more clients simultaneously purchase or sell the same security, in which event each day's transactions in such security are, insofar as possible, averaged as to price and allocated between such clients in a manner which in the Sub-Adviser's opinion is equitable to each and in accordance with the amount being purchased or sold by each. There may be circumstances when purchases or sales of portfolio securities for one or more clients will have an adverse effect on other clients, including the Fund.

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The following tables indicate the number of accounts and asset under management (in millions) for each type of account for the portfolio manager as of September 30, 2025.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | <br> **Registered Investment<br> <u>Companies</u>** | <br> **Registered Investment<br> <u>Companies</u>** | <br> **Other Pooled Investment<br> <u>Vehicles</u>** | <br> **Other Pooled Investment<br> <u>Vehicles</u>** | <br> **<br> <u>Other Accounts</u>** | <br> **<br> <u>Other Accounts</u>** |
| <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Portfolio Manager**<br>| <br> **Number of** <br> **Accounts**<br>| <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Total Assets**<br>| <br> **Number of** <br> **Accounts**<br>| <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Total Assets**<br>| <br> **Number of** <br> **Accounts**<br>| <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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> Total Assets**<br>|
| <br> **All Accounts** | <br> **All Accounts** | <br> **All Accounts** | <br> **All Accounts** | <br> **All Accounts** | <br> **All Accounts** | <br> **All Accounts** |
| <br> Alix Foulonneau<br>| <br> 3<br>| <br> $354M<br>| <br> 9<br>| <br> $1,074M<br>| <br> 5455<br>| <br> $8,467M<br>|
| <br> Adam Jokich<br>| <br> 5<br>| <br> $728M<br>| <br> 30<br>| <br> $11,373M<br>| <br> 5455<br>| <br> $28,949M<br>|
| <br> **Accounts with Performance-Based Advisory Fee** | <br> **Accounts with Performance-Based Advisory Fee** | <br> **Accounts with Performance-Based Advisory Fee** | <br> **Accounts with Performance-Based Advisory Fee** | <br> **Accounts with Performance-Based Advisory Fee** | <br> **Accounts with Performance-Based Advisory Fee** | <br> **Accounts with Performance-Based Advisory Fee** |
| <br> Alix Foulonneau<br>| <br> 0<br>| <br> $0<br>| <br> 0<br>| <br> $0<br>| <br> 0<br>| <br> $0<br>|
| <br> Adam Jokich<br>| <br> 0<br>| <br> $0<br>| <br> 0<br>| <br> $0<br>| <br> 0<br>| <br> $0<br>|

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<u>Portfolio Manager Compensation</u>

The Sub-Adviser compensates the portfolio managers for their management of the Fund. The portfolio managers' compensation consists of a fixed salary and a discretionary annual bonus. The annual bonus is not based on the investment performance of the Fund's portfolio. Instead, the annual bonus is based on an overall review and assessment of the portfolio managers' job performance.

#### Fund Services
*Administrator and Accounting Services*

The Nottingham Company, 116 South Franklin Street, Post Office Box 69, Rocky Mount, North Carolina 27802-0069 serves as the administrator and Fund accounting agent ("Administrator") for the Fund.

The following chart shows the total dollar amounts that the Fund paid to the Administrator for the last three fiscal years:

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| | | | |
|:---|:---|:---|:---|
| <br> **Fund**<br>| <br> **2025**<br>| <br> **2024**<br>| <br> **2023**<br>|
| GreenFi Redwood Fund | <br> $142994<br>| <br> $144565<br>| <br> $134183<br>|

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*Transfer Agent Services*

Nottingham Shareholder Services, LLC ("Transfer Agent"), a North Carolina limited liability company, serves as transfer, dividend paying, and shareholder servicing agent for the Fund. The Transfer Agent maintains the records of each shareholder's account, answers shareholders' inquiries concerning their accounts, processes purchases and redemptions of Fund shares, acts as dividend and distribution disbursing agent and performs other accounting and shareholder service functions. The fees and certain expenses of the Transfer Agent, Custodian, Fund Accounting Agent and Administrator are paid by the Fund.

*Shareholder Servicing Agent*

Mission Financial Partners, LLP ("Shareholder Servicing Agent"), an affiliate of the Adviser, furnishes certain shareholders services to the Fund. The Shareholder Servicing Agent maintains the public website of the Fund, maintains a technological platform whereby shareholders can access up-to-date information related to their respective holdings in the Fund, establishes and maintains customer support agents and provides a support center to answer questions from Fund shareholders and new investors, provides onboarding services for new accounts, arranges for the fulfillment of customer identification program pursuant to the Fund's anti-money laundering policies and procedures, arranges for the purchase, exchange, redemption, or transfer of Shares in conjunction with the Transfer Agent, and promptly addressed shareholder complaints directed to or brought to the attention of the Fund.

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*Compliance Services Administrator*

The Trust has entered into a compliance services arrangement with ACA Group, located at 140 E. 45<sup>th</sup> Street, 29<sup>th</sup> Floor, 2 Grand Central Tower, New York, New York 10017. The compliance services agreement was assigned by Cipperman Compliance Services, LLC to Foreside Compliance Services and then to ACA Group as a result of acquisitions of those firms. The Trust's Chief Compliance Officer will prepare and update the Trust's compliance manual and monitor and test compliance with the policies and procedures under the Trust's compliance manual.

*Distributor*

Capital Investment Group, Inc., located at 100 E. Six Forks Road, Suite 200, Raleigh, North Carolina 27609 (the "Distributor") provides distribution services to the Fund pursuant to a distribution agreement with the Trust. Under its agreement with the Trust, the Distributor acts as an agent of the Trust in connection with the offering of the shares of the Fund on a continuous basis. The Distributor has no obligation to sell any specific quantity of Fund shares. The Distributor, and its officers have no role in determining the Fund's investment policies or which securities to buy or sell. The Distributor may enter into agreements with selected broker-dealers, banks, or other financial institutions for distribution of shares of the Fund. The Trust in its discretion also may issue shares of the Fund otherwise than through Distributor in connection with: (i) the payment or reinvestment of dividends or distributions; (ii) any merger or consolidation of the Trust or the Fund with any other investment company or trust or any personal holding company, or the acquisition of the assets of any such entity or another series of the Trust; (iii) any offer of exchange authorized by the Board of the Trustees; (iv) any sales of shares to Trustees and officers of the Trust or to Distributor or such other persons identified in the Prospectus; or (v) the issuance of such shares to a unit investment trust if such unit investment trust has elected to use shares as an underlying investment.

Under the Distribution Agreement, the Distributor is paid $15,000 per annum for its services.

*Custodian*

UMB Bank, N.A. ("Custodian") serves as the Fund's custodian. The Custodian acts as the Trust's depository, provides safekeeping of its portfolio securities, collects all income and other payments with respect thereto, disburses funds at the Trust's request and maintains records in connection with its duties.

*Securities Lending*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Fund did not engage in securities lending during the fiscal year ended September 30, 2025.

#### Independent Registered Public Accounting Firm
Tait, Weller & Baker LLP, located at Two Liberty Place, 50 S. 16<sup>th</sup> Street, Suite 2900, Philadelphia, PA 19102-2529, serves as the independent registered public accounting firm for the Fund. Tait, Weller & Baker LLP will perform an annual audit of the Fund's financial statements and provides financial, tax and other attest services as requested.

### brokerage allocation and other practices
Subject to policies established by the Board, the Sub-Adviser is responsible for the Fund's portfolio decisions and the placing of the Fund's portfolio transactions. In placing portfolio transactions, the Sub-Adviser seeks the best qualitative execution, taking into account such factors as price (including the applicable brokerage commission or dealer spread), the execution capability, financial responsibility and responsiveness of the broker or dealer and the brokerage and research services provided by the broker or dealer. The Sub-Adviser generally seeks favorable prices and commission rates that are reasonable in relation to the benefits received.

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All decisions concerning the purchase and sale of securities and the allocation of brokerage commissions on behalf of the Fund are made by the Sub-Adviser. In selecting broker-dealers to use for such transactions, the Sub-Adviser will seek to achieve the best overall result for the Fund taking into consideration a range of factors that include not just price, but also the broker's reliability, reputation in the industry, financial standing, infrastructure, research and execution services and ability to accommodate special transaction needs. The Sub-Adviser will use knowledge of the Fund's circumstances and requirements to determine the factors that the Sub-Adviser takes into account for the purpose of providing the Fund with "best execution." In selecting qualified broker-dealers to execute brokerage transactions, the Sub-Adviser may consider broker-dealers who provide or procure for the Sub-Adviser brokerage or research services or products within the meaning of Section 28(e) of the Securities Exchange Act of 1934, as amended. Such services and products may include fundamental research reports and technical and portfolio analyses. Certain of the brokerage and research services received may benefit some or all of the Sub-Adviser's clients and accounts under the management of the Sub-Adviser and may not benefit directly the Fund. Broker-dealers who provide such services may receive a commission which is in excess of the amount of the commission another broker-dealer may have charged if in the judgment of the Sub-Adviser the higher commission is reasonable in relation to the value of the brokerage and research services rendered. All commissions paid, regardless of whether the executing broker-dealer provides research services, will generally be within a competitive range for full-service brokers.

The following shows the aggregate amount of brokerage commissions paid by the Fund during its three most recent fiscal years, as applicable.

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| | | | |
|:---|:---|:---|:---|
| <br> **Fund**<br>| <br> **2025**<br>| <br> **2024**<br>| <br> **2023**<br>|
| GreenFi Redwood Fund | <br> $23251.64<br>| <br> $10381<br>| <br> $29497<br>|

---

The increase in brokerage commission from the fiscal year ended 2024 to the fiscal year ended 2025 was primarily due to an increase in the Fund's portfolio transactions. The decrease in brokerage commission from the fiscal year 2023 to fiscal year 2024 was primarily due to

a decrease in the Fund portfolio transactions.

### determination of share price
The price of the shares is based on the Fund's net asset value per share ("NAV"). The NAV is determined at the close of regular trading of the New York Stock Exchange ("NYSE"), normally 4:00 p.m. Eastern time ("ET") on each day that the NYSE is open for trading. The Fund's Shares will not be priced on the days that the NYSE is closed for trading. The NYSE typically observes the following holidays: New Years' 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. Although it is expected that the same holidays will be observed in the future, the NYSE may modify its holiday schedule or hours of operation at any time. For a description of the methods used to determine the NAV, see "Calculating the Fund's NAV" in the Prospectus.

Shares of open-end investment companies (i.e., mutual funds) are valued at their respective NAV.

Equity securities generally are valued by using market quotations but may be valued on the basis of prices furnished by a pricing service selected by the Adviser. Securities that are traded on any stock exchange or on the NASDAQ over-the-counter market are generally valued by the pricing service at the last quoted sale price. Lacking a last sale price, an equity security is generally valued by the pricing service at its last available quotation.

Fixed income securities are normally valued on the basis of prices obtained from independent third-party pricing services approved by the selected by the Adviser, which are generally determined with consideration given to institutional bid and last sale prices and take into account securities prices, yield, maturity, call features, ratings, institutional sized trading in similar groups of securities and developments related to specific securities. Debt obligations with remaining maturities of sixty days or less are valued at their amortized cost.

The Board of Trustees, including the majority of the Trustees who are not "interested persons" of the Trust, as such term is defined in the 1940 Act, has designated the Adviser to serve as the "Valuation Designee" under Rule 2a-5 to perform fair value determinations subject to the Board's oversight. The Valuation Designee has designated certain individuals at the Adviser (the "Pricing Committee") to carry out the Adviser's responsibilities as Valuation Designee to the Trust. When (i) market quotations are not readily available, or (ii) the validity of the price is otherwise questionable or unreliable, securities are valued as determined in good faith by the Valuation Designee, acting through its Pricing Committee, pursuant to policies and procedures approved by the Board of Trustees. The circumstances under which an Underlying Fund will use fair value pricing and the methods used are disclosed in the offering documents for the Underlying Fund, which may include the Underlying Fund's prospectus and SAI.

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### redemption in-kind
The Fund does not intend to redeem shares in any form except cash. However, if the amount redeemed is over the lesser of $250,000 or 1% of the Fund's net assets, the Fund has the right to redeem shares by giving the redeeming shareholder the amount that exceeds the lesser of $250,000 or 1% of the Fund's net assets in securities instead of cash. In the event that an in-kind distribution is made, a shareholder may incur additional expenses, such as the payment of brokerage commissions, on the sale or other disposition of the securities received from the Fund.

### tax consequences
The following discussion of certain U.S. federal income tax consequences is general in nature and should not be regarded as an exhaustive presentation of all possible tax ramifications. Each shareholder should consult a qualified tax advisor regarding the tax consequences of an investment in the Fund. The tax considerations relevant to a specific shareholder depend upon the shareholder's specific circumstances, and the following general summary does not attempt to discuss all potential tax considerations that could be relevant to a prospective shareholder with respect to the Fund or its investments. This general summary is based on the I Code of 1986, the U.S. federal income tax regulations promulgated thereunder, and administrative and judicial interpretations thereof as of the date hereof, all of which are subject to change (potentially on a retroactive basis).

The Fund intends to qualify each year as a regulated investment company under Subchapter M of the Code, which requires compliance with certain requirements concerning the sources of its income, diversification of its assets, and the amount and timing of its distributions to shareholders. Such qualification does not involve supervision of management or investment practices or policies by any government agency or bureau. By so qualifying, the Fund should not be subject to federal income or excise tax on net investment income or net realized capital gain, which are distributed to shareholders in accordance with the applicable timing requirements.

The Fund intends to distribute substantially all of its net investment income (including any excess of net short-term capital gains over net long-term capital losses) and net realized capital gain (that is, any excess of net long-term capital gains over net short-term capital losses) in accordance with the timing requirements imposed by the Code and therefore should not be required to pay any federal income or excise taxes. Net realized capital gain for a fiscal year is computed by taking into account any capital loss carry-forward of the Fund. The Fund is generally permitted to carry forward a net capital loss in the taxable year to offset its own capital gains, if any. These amounts are available to be carried forward to offset future capital gains to the extent permitted by the Code and applicable tax regulations. Any such loss carryforwards will retain their character as short-term or long-term. In the event that the Fund were to experience an ownership change as defined under the Code, the capital loss carryforwards and other favorable tax attributes of the Fund, if any, may be subject to limitation. As of September 30, 2025, the Fund did not have a capital loss carry forward.

To be treated as a regulated investment company under Subchapter M of the Code, the Fund must also (a) derive at least 90% of its gross income from dividends, interest, payments with respect to securities loans, net income from certain publicly traded partnerships and gains from the sale or other disposition of securities or foreign currencies, or other income (including, but not limited to, gains from options, futures or forward contracts) derived with respect to the business of investing in such securities or currencies, and (b) diversify its holding so that, at the end of each fiscal quarter, (i) at least 50% of the market value of the Fund's assets is represented by cash, U.S. government securities and securities of other regulated investment companies, and other securities (for purposes of this calculation, generally limited in respect of any one issuer, to an amount not greater than 5% of the market value of the Fund's assets and 10% of the outstanding voting securities of such issuer) and (ii) not more than 25% of the value of its assets is invested in the securities (other than U.S. government securities or the securities of other regulated investment companies) of any one issuer, two or more issuers which the Fund controls and which are determined to be engaged in the same or similar trades or businesses, or the securities of certain publicly traded partnerships.

If the Fund fails to qualify as a regulated investment company under Subchapter M of the Code in any fiscal year, it may be treated as a corporation for federal income tax purposes. As such, the Fund would be required to pay income taxes on its net investment income and net realized capital gains, if any, at the rates generally applicable to corporations. Shareholders of the Fund generally would not be liable for income tax on the Fund's net investment income or net realized capital gains in their individual capacities. However, distributions to shareholders, whether from the Fund's net investment income or net realized capital gains, would be treated as taxable dividends to the extent of current or accumulated earnings and profits of the Fund.

------

As a regulated investment company, the Fund is subject to a 4% nondeductible excise tax on certain undistributed amounts of ordinary income and net realized capital gain under a prescribed formula contained in Section 4982 of the Code. The formula requires payment to shareholders during a calendar year of distributions representing an amount at least equal to the sum of 98% of the Fund's ordinary income for the calendar year (taking into account certain deferrals and elections) and 98.2% of its net realized capital gain (i.e., the excess of its capital gains over capital losses) realized during the one-year period ending October 31 during such year plus 100% of any income that was neither distributed nor taxed to the Fund during the preceding calendar year. Under ordinary circumstances, the Fund expects to time its distributions so as to avoid liability for this tax.

The following discussion of U.S. federal income tax consequences is for the general information of shareholders that are subject to tax. Shareholders that are invested in IRAs or other qualified retirement plans are exempt from income taxation under the Code.

Distributions of taxable net investment income (including the excess of net short-term capital gain over net long-term realized capital loss) generally are taxable to shareholders as ordinary income. However, distributions by the Fund to a non-corporate shareholder may be subject to income tax at the shareholder's applicable tax rate for long-term capital gain, to the extent that the Fund receives qualified dividend income on the securities it holds, the Fund properly reports the distribution as qualified dividend income, and the Fund and the non-corporate shareholder that receives the distribution meets certain holding period and other requirements. Distributions of net realized capital gain ("capital gain dividends") generally are taxable to shareholders as long-term capital gain, regardless of the length of time the shares of the Fund have been held by such shareholders. Under current law, capital gain dividends recognized by a non-corporate shareholder generally will be taxed at a maximum income tax rate of 20%. Capital gains of corporate shareholders are taxed at the same rate as ordinary income. Dividends paid by the Fund that are attributable to dividends received by the Fund from U.S. corporations may qualify for the U.S. federal dividends received deduction for corporations if both the Fund and the corporate shareholder satisfy certain holding period requirements. Distributions, if any, that are in excess of the Fund's current and accumulated earnings and profits will first reduce a shareholder's tax basis in his or her shares and, after such basis is reduced to zero, will generally constitute capital gains to a shareholder who holds his or her shares as capital assets.

Distributions of taxable net investment income and net realized capital gain will be taxable as described above, whether received in additional cash or shares. All distributions of taxable net investment income and net realized capital gain, whether received in shares or in cash, must be reported by each taxable shareholder on his or her federal income tax return. Dividends or distributions declared in October, November or December as of a record date in such a month, if any, will be deemed to have been received by shareholders on December 31, if paid during January of the following year. Redemptions of shares may result in tax consequences (gain or loss) to the shareholder and are also subject to these reporting requirements.

If the Fund retains any net capital gain, the Fund may designate the retained amount as undistributed capital gains in a notice to its shareholders who, if subject to U.S. federal income tax on long-term capital gains, (i) will be required to include in income for federal income tax purposes, as long-term capital gain, their Fund shares of such undistributed amount, and (ii) will be entitled to credit their proportionate shares of the tax paid by the Fund against their U.S. federal income tax liabilities, if any, and to claim refunds to the extent the credit exceeds such liabilities. For U.S. federal income tax purposes, the tax basis of Fund shares owned by a shareholder of the Fund will be increased by the amount of any such undistributed net capital gain included in the shareholder's gross income and decreased by the federal income tax paid by the Fund on that amount of net capital gain.

The Fund's investment, if any, in zero coupon securities, deferred interest securities, certain structured securities or other securities bearing original issue discount or, if the Fund elects to include market discount in income currently, market discount, as well as any "marked-to-market" gain from certain options, futures or forward contracts, as described above, will in many cases cause the Fund to realize income or gain before the receipt of cash payments with respect to these securities or contracts. For the Fund to obtain cash to enable the Fund to distribute any such income or gain, to maintain its qualification as a regulated investment company and to avoid federal income and excise taxes, the Fund may be required to liquidate portfolio investments sooner than it might otherwise have done.

------

Investments in lower-rated securities may present special tax issues for the Fund to the extent actual or anticipated defaults may be more likely with respect to those kinds of securities. Tax rules are not entirely clear about issues such as when an investor in such securities may cease to accrue interest, original issue discount, or market discount; when and to what extent deductions may be taken for bad debts or worthless securities; how payments received on obligations in default should be allocated between principal and income; and whether exchanges of debt obligations in a workout context are taxable. These and other issues will generally need to be addressed by the Fund, in the event it invests in such securities, so as to seek to eliminate or to minimize any adverse tax consequences.

Redemption of Fund shares by a shareholder will result in the recognition of taxable gain or loss in an amount equal to the difference between the amount realized and the shareholder's tax basis in the shareholder's Fund shares. Such gain or loss is treated as a capital gain or loss if the shares are held as capital assets. However, any loss realized upon the redemption of shares within six months from the date of their purchase will be treated as a long-term capital loss to the extent of any amounts treated as capital gain dividends during such six-month period. All or a portion of any loss realized upon the redemption of shares may be disallowed to the extent shares are purchased (including shares acquired by means of reinvested dividends) within 30 days before or after such redemption.

The Fund will not be able to offset gains realized by one Underlying Fund against losses realized by another Underlying Fund in which the Fund invests. Redemptions of shares in an Underlying Fund could also result in a gain and/or income to the Fund. The Fund's investment in Underlying Funds could therefore affect the amount, timing and character of distributions to shareholders. Redemptions of shares in an Underlying Fund could also cause additional distributable gains to shareholders.

Individuals (and certain other non-corporate entities) are generally eligible, for a 20% deduction with respect to taxable ordinary dividends from REITs ("Qualifying REIT Dividends") and certain taxable income from publicly traded partnerships ("MLP Income"). Applicable Treasury regulations permit a regulated investment company to pass through to its shareholders Qualifying REIT Dividends eligible for the 20% deduction. However, the Treasury regulations do not provide a mechanism for a regulated investment company to pass through to its shareholders MLP Income that would be eligible for such deduction. It is uncertain whether future legislation or other guidance will enable a regulated investment company to pass through the special character of MLP Income to the regulated investment company's shareholders.

Certain distributions reported by the Fund as Section 163(j) interest dividends may be treated as interest income by shareholders for purposes of the tax rules applicable to interest expense limitations under Section 163(j) of the Code. Such treatment by the shareholder is generally subject to holding period requirements and other potential limitations, although the holding period requirements are generally not applicable to dividends declared by money market funds and certain other funds that declare dividends daily and pay such dividends on a monthly or more frequent basis. The amount that the Fund is eligible to report as a Section 163(j) dividend for a tax year is generally limited to the excess of the Fund's business interest income over the sum of the Fund's (i) business interest expense and (ii) other deductions properly allocable to the Fund's business interest income. The Fund anticipates that it may be subject to foreign taxes on income (possibly including, in some cases, capital gains) from foreign securities. Tax conventions between certain countries and the United States may reduce or eliminate those foreign taxes in some cases.

Gains and losses on the sale, lapse, or other termination of options and futures contracts, options thereon and certain forward contracts (except certain foreign currency options, forward contracts and futures contracts) will generally be treated as capital gains and losses. Certain of the futures contracts, forward contracts and options held by the Fund will be required to be "marked-to-market" for federal tax purposes — that is, treated as having been sold at their fair market value on the last day of the Fund's taxable year (or, for excise tax purposes, on the last day of the relevant period). These provisions may require the Fund to recognize income or gains without a concurrent receipt of cash. In order to generate cash to satisfy the distribution requirements of the Code, the Fund may be required to dispose of portfolio securities that it otherwise would have continued to hold or to use cash flows from other sources. Any gain or loss recognized on actual or deemed sales of these futures contracts, forward contracts, or options will (except for certain foreign currency options, forward contracts, and futures contracts) be treated as 60% long-term capital gain or loss and 40% short-term capital gain or loss. As a result of certain hedging transactions entered into by the Fund, it may be required to defer the recognition of losses on futures contracts, forward contracts, and options or underlying securities or foreign currencies to the extent of any unrecognized gains on related positions held by the Fund, and the characterization of gains or losses as long-term or short-term may be changed. The tax provisions described in this paragraph may affect the amount, timing and character of the Fund's distributions to shareholders. As a result, the Fund may therefore be required to limit its investments in such transactions. It is also possible that the IRS may not agree with the Fund's tax treatment of such transactions. In addition, the tax treatment of derivatives, and certain other investments, may be affected by future legislation, Treasury Regulations and guidance issued by the IRS that could affect the timing, character and amount of the Fund's income and gains and distributions to shareholders. Certain tax elections may be available to the Fund to mitigate some of the unfavorable consequences described in this paragraph.

------

Under Section 988 of the Code, special rules are provided for certain transactions in a foreign currency other than the taxpayer's functional currency (i.e., unless certain special rules apply, currencies other than the U.S. dollar). In general, foreign currency gains or losses from forward contracts, from futures contracts that are not "regulated futures contracts," and from unlisted options will be treated as ordinary income or loss under Section 988 of the Code. Also, certain foreign exchange gains or losses derived with respect to foreign fixed-income securities are also subject to Section 988 treatment. In general, therefore, Section 988 gains or losses will increase or decrease the amount of the Fund's investment company taxable income available to be distributed to shareholders as ordinary income, rather than increasing or decreasing the amount of the Fund's net capital gain.

If the Fund invests in certain REITs or in real estate mortgage investment conduit residual interests, a portion of the Fund's income may be classified as "excess inclusion income." A shareholder that is otherwise not subject to tax may be taxable on their share of any such excess inclusion income as "unrelated business taxable income." In addition, tax may be imposed on the Fund on the portion of any excess inclusion income allocable to any shareholders that are classified as disqualified organizations.

Under the Code, the Fund will be required to report to the Internal Revenue Service ("IRS") all distributions of taxable income and net realized capital gains as well as gross proceeds from the redemption of Fund shares, except in the case of certain exempt shareholders. Under the backup withholding provisions of Section 3406 of the Code, distributions of taxable net investment income and net realized capital gain and proceeds from the redemption of the shares of a regulated investment company may be subject to withholding of federal income tax (currently, at a rate of 24%) in the case of non-exempt shareholders who fail to furnish the investment company with their taxpayer identification numbers and with required certifications regarding their status under the federal income tax law, or if the Fund is notified by the IRS or a broker that withholding is required due to an incorrect TIN or a previous failure to report taxable interest or dividends. If the withholding provisions are applicable, any such distributions and proceeds, whether taken in cash or reinvested in additional shares, will be reduced by the amounts required to be withheld.

Dividends the Fund pays to a foreign shareholder, other than (1) dividends paid to a foreign shareholder whose ownership of shares is effectively connected with a trade or business within the United States the shareholder conducts and (2) capital gain distributions paid to a nonresident alien individual who is physically present in the United States for no more than 182 days during the taxable year, generally will be subject to a federal withholding tax of 30% (or lower treaty rate). Two categories of dividends, however, "short-term capital gain dividends" and "interest-related dividends," if properly reported by the Fund to its shareholders, will be exempt from that tax. "Short-term capital gain dividends" are dividends that are attributable to net short-term capital gain, computed with certain adjustments. "Interest-related dividends" are dividends that are attributable to "qualified net interest income" (i.e., "qualified interest income," which generally consists of certain original issue discount, interest on obligations "in registered form," and interest on deposits, less allocable deductions) from sources within the United States. Depending on the circumstances, the Fund may report all, some or none of the Fund's potentially eligible dividends as eligible for the exemption from withholding tax, and a portion of the Fund's distributions (e.g., interest and dividends from non-U.S. sources or any foreign currency gains) would be ineligible for such exemption. In the case of shares of the Fund held through a financial intermediary, the financial intermediary may withhold U.S. federal income tax even if the Fund reports the payment as interest-related dividends or short-term capital gain dividends. There can be no assurance as to whether any of the Fund's distributions will be eligible for an exemption from withholding of U.S. federal income tax or, as to whether any of the Fund's distributions that are eligible, will be reported as such by the Fund.

------

Any capital gain realized by a foreign shareholder upon a sale or redemption of shares of the Fund will not be subject to U.S. federal income or withholding tax unless the gain is effectively connected with the shareholder's trade or business in the U.S., or in the case of a shareholder who is a nonresident alien individual, the shareholder is present in the U.S. for 183 days or more during the taxable year and certain other conditions are met.

Foreign shareholders who fail to furnish the Fund with the proper IRS Form W-8 (i.e., W-8BEN, W-8BEN-E, W-8ECI, W-8IMY or W-8EXP), or an acceptable substitute, may be subject to backup withholding at a 24% rate on dividends (including capital gain dividends) and on the proceeds of redemptions and exchanges. Also, foreign shareholders of the Fund may be subject to U.S. estate tax with respect to their Fund shares.

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 income dividends 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. The 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 the Fund fails to provide the Fund with appropriate certifications or other documentation concerning its status under FATCA.

Pursuant to Treasury Regulations directed at tax shelter activity, taxpayers are required to disclose to the IRS certain information on Form 8886 if they participate in a "reportable transaction." A transaction may be a "reportable transaction" based upon any of several indicia with respect to a shareholder, including the existence of significant book-tax differences or the recognition of a loss in excess of certain thresholds. A significant penalty is imposed on taxpayers who participate in a "reportable transaction" and fail to make the required disclosure. Investors should consult their own tax advisors concerning any possible federal, state or local disclosure obligations with respect to their investment in shares of the Fund.

The Fund may be subject to state or local taxes in jurisdictions in which the Fund is deemed to be doing business. In addition, in those states or localities that impose income taxes, the treatment of the Fund and its shareholders under those jurisdictions' tax laws may differ from the treatment under federal income tax laws, and an investment in the Fund may have tax consequences for shareholders that are different from those of a direct investment in the Fund's portfolio securities. Shareholders should consult their own tax advisors concerning state and local tax matters.

### proxy voting policies and procedures
The Board of Trustees has delegated responsibilities for decisions regarding proxy voting for securities held by the Fund to the Adviser, subject to the general oversight of the Board. Pursuant to the Sub-Investment Advisory Agreement between the Adviser and the Sub-Adviser, the Adviser delegated proxy voting responsibility to the Sub-Adviser. The Sub-Adviser has adopted written proxy voting policies and procedures ("Proxy Policies") as required by Rule 206(4)-6 under the Investment Advisers Act of 1940, as amended, consistent with its fiduciary obligations. The Proxy Policies have been approved by the Board of Trustees. The Proxy Policies are designed and implemented in a manner reasonably expected to ensure that voting and consent rights are exercised prudently and solely in the best economic interests of the Fund and its shareholders considering all relevant factors and without undue influence from individuals or groups who may have an economic interest in the outcome of a proxy vote. Any conflict between the best economic interests of the Fund and the Sub-Adviser's interests will be resolved in the Fund's favor pursuant to the Proxy Policy. A summary of the Sub-Adviser's proxy voting policies and procedures is attached as Appendix A.

MORE INFORMATION. Investors may obtain a copy of the proxy voting policies and procedures by writing to the Trust in the name of the Fund c/o The Nottingham Company, 116 South Franklin Street, P.O. Box 69, Rocky Mount, NC 27802, or by calling the Trust at (800) 683-8529. Information about how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available without charge, upon request, by calling the Trust at (800) 683-8529 or visiting funds.greenfi.com and on the SEC's website at http://www.sec.gov.

------

### portfolio holdings disclosure policy
The Fund will not disclose (or authorize its Custodian, Administrator, or Distributor to disclose) portfolio holdings information to any person or entity except as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To persons providing services to the Fund who have a need to know such information in order to fulfill their obligations to the Fund, such as portfolio managers, administrators, custodians, pricing services, proxy voting services, accounting and auditing services, and research and trading services, and the Trust's Board of Trustees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• In connection with periodic reports that are available to shareholders and the public;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To mutual fund rating or statistical agencies or persons performing similar functions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Pursuant to a regulatory request or as otherwise required by law;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• To persons approved in writing by the CCO; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On the Fund's website at funds.greenfi.com. A complete listing of the Fund's Portfolio Securities may be posted on the Fund's website on a periodic basis. Holdings will be posted with an "as-of date."

The Fund will disclose portfolio holdings quarterly, in its Form N-CSR, as well as in filings with the SEC, in each case no later than 60-days after the end of the applicable fiscal period. Pursuant to policies and procedures adopted by the Board of Trustees, the Fund has ongoing arrangements to release portfolio holdings information on a daily basis to the Adviser, Sub-Adviser, Administrator, and Custodian and on an as-needed basis to other third-parties providing services to the Fund. The Sub-Adviser, Administrator, and Custodian receive portfolio holdings information daily in order to carry out the essential operations of the Fund. The Fund will disclose portfolio holdings to its auditors, legal counsel, proxy voting services (if applicable), pricing services, printers, typesetting and EDGARizing services, parties to merger and reorganization agreements and their agents, and prospective or newly hired investment advisers or sub-advisers. The lag between the date of the information and the date on which the information is disclosed will vary based on the identity of the party to whom the information is disclosed. For instance, the information may be provided to auditors within days of the end of an annual period, while the information may be given to legal counsel at any time.

The Fund, the Adviser, the Sub-Adviser, the Transfer Agent, the Fund Accounting Agent, and the Custodian are prohibited from entering into any special or ad hoc arrangements with any person to make available information about the Fund's portfolio holdings without the specific approval of the CCO. Any party wishing to release portfolio holdings information on an ad hoc or special basis must submit any proposed arrangement to the CCO, which will review the arrangement to determine (i) whether the arrangement is in the best interests of the Fund's shareholders, (ii) whether the information will be kept confidential (based on the factors discussed below), (iii) whether sufficient protections are in place to guard against personal trading based on the information, and (iv) whether the disclosure presents a conflict of interest between the interests of Fund shareholders and those of the Sub-Adviser, or any affiliated person of the Fund or the Sub-Adviser. The CCO will provide to the Board of Trustees on a quarterly basis a report regarding all portfolio holdings information released on an ad hoc or special basis. Additionally, the Sub-Adviser, and any affiliated persons of the Sub-Adviser, is prohibited from receiving compensation or other consideration, for itself or on behalf of the Fund, as a result of disclosing the Fund's portfolio holdings. The CCO monitors compliance with these procedures and reviews their effectiveness on an annual basis.

Information disclosed to third parties, whether on an ongoing or ad hoc basis, is disclosed under conditions of confidentiality. "Conditions of confidentiality" include (i) confidentiality clauses in written agreements, (ii) confidentiality implied by the nature of the relationship (e.g., attorney-client relationship), (iii) confidentiality required by fiduciary or regulatory principles (e.g., custody relationships) or (iv) understandings or expectations between the parties that the information will be kept confidential. The agreements with the Fund's Sub-Adviser, Transfer Agent, Fund Accounting Agent and Custodian contain confidentiality clauses, which the Board and these parties have determined extend to the disclosure of nonpublic information about the Fund's portfolio holdings and the duty not to trade on the non-public information. The Trust believes that these are reasonable procedures to protect the confidentiality of the Fund's portfolio holdings and will provide sufficient protection against personal trading based on the information.

------

### abandoned account policy
It is important to understand that your Fund accounts may be considered abandoned property under certain circumstances. When you became a Fund shareholder, you certified that you have access to the Internet and a current e-mail account, you acknowledged that you have sole responsibility for providing a correct and operational e-mail address, and you agreed to notify the Fund immediately if your e-mail address changes. If the Fund is not able to contact you through your e-mail address or physical mailing address for an extended period of time, your account may be considered to be abandoned and turned over to the state of your last known residence.

All states have laws governing the disposition of abandoned property. Escheatment is the process of turning over to a state property that is considered abandoned or unclaimed under state law. Financial institutions, including mutual funds, are required to report personal property that has been abandoned and then turn that property over to the state.

Your account may be considered abandoned if certain criteria are met, such as e-mail sent to your e-mail address goes unanswered for an extended period of time, mail sent to your physical address is returned undeliverable, or in some circumstances, a lack of account activity for an extended period of time. Once a fund account has been identified as meeting the requirements for abandoned property, it must be turned over to the state in a process known as escheatment. Generally, abandoned property must be turned over to the state of the shareholder's last known residence. It is important to note that once the funds are escheated to the state, it is up to the account owner to work with his/her state's division of unclaimed property to reclaim those assets.

Before any assets are turned over to a state, we will make a diligent effort to locate and contact the account owner. Both GreenFi Funds and the Fund's Transfer Agent will attempt to contact the account owner through outreach letters and emails. If you receive a letter, please respond either in writing, as directed in the letter, or visit funds.greenfi.com and log in to your account. Please note that during this outreach process, you will not be asked to furnish your account information, and that these letters are not attempts to sell you anything.

The best way to ensure that your account is not deemed lost or abandoned is by contacting us once a year. This can be accomplished through one of several different means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Log into your account at funds.greenfi.com and view your account holdings. Please note, simply visiting funds.greenfi.com without logging in will not keep your account active.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Call one of GreenFi's customer service representatives at 1-800-683-8529 on any business day. Simply tell the customer service representative that you would like to check the balance of your account, and the representative will walk you through this process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Notify us promptly of any change in name, address and e-mail address.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Cash all dividend and redemption checks you receive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• If you receive a notice from GreenFi Funds or one of our business partners attempting to re-establish contact with you, follow the directions in the letter so we may capture your response.

Once an account meets the state's abandoned property requirements, a diligent effort will be made to locate the account owner to avoid the escheatment process. If we are unable to locate the account owner, the state claims the account through the escheatment process, whereby the state becomes the owner of the account assets. Once the assets have been turned over to the state, it is up to the account owner to contact the relevant state agency to start the process of reclaiming the assets.

If you believe that you have property that was escheated to the state and you want to reclaim the assets, GreenFi Funds recommends visiting the website of the National Association of Unclaimed Property Administrators at http://www.naupa.or/. The website provides contact information for the unclaimed property divisions of each state, as well as other helpful information. Please also visit the SEC website for basic information on the escheatment process: https://www.sec.gov/answers/escheat.htm.

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| | |
|:---|:---|
| ***PRIVACY NOTICE*** | ***PRIVACY NOTICE*** |
| **FACTS** | WHAT DOES GREENFI FUNDS DO WITH YOUR PERSONAL INFORMATION?<br>|
| **Why?** | 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.<br>|
| **What?** | The types of personal information we collect and share depend on the product or service you have with us. This information can include:<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Social Security number<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Assets<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Retirement Assets<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transaction History<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Checking Account Information<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Purchase History<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Account Balances<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Account Transactions<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wire Transfer Instructions<br> When you are *no longer* our customer, we continue to share your information as described in this notice.<br>|
| **How?** | All financial companies need to share your 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 the GreenFi Redwood Fund chooses to share; and whether you can limit this sharing.<br>|

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| | | | | |
|:---|:---|:---|:---|:---|
| **Reasons we can share your personal information** | **Reasons we can share your personal information** | **Reasons we can share your personal information** | **Do the GreenFi Funds Trust share?**<br>| **Can you limit this sharing?** |
| **For our everyday business purposes-**<br> Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | **For our everyday business purposes-**<br> Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | **For our everyday business purposes-**<br> Such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | Yes | No |
| **For our marketing purposes –**<br> to offer our products and services to you | **For our marketing purposes –**<br> to offer our products and services to you | **For our marketing purposes –**<br> to offer our products and services to you | Yes | Yes |
| **For joint marketing with other financial companies** | **For joint marketing with other financial companies** | **For joint marketing with other financial companies** | No | We don't share |
| **For our affiliates' everyday business purposes -** information about your creditworthiness | **For our affiliates' everyday business purposes -** information about your creditworthiness | **For our affiliates' everyday business purposes -** information about your creditworthiness | Yes | Yes |
| **For nonaffiliates to market to you** | **For nonaffiliates to market to you** | **For nonaffiliates to market to you** | Yes | Yes |
| **Questions?** | Call 1-800-683-8529 | Call 1-800-683-8529 | Call 1-800-683-8529 | Call 1-800-683-8529 |
| **Who we are** | **Who we are** | **Who we are** | **Who we are** | **Who we are** |
| **Who is providing this notice?** | **Who is providing this notice?** | **&nbsp;&nbsp;&nbsp;&nbsp;GreenFi Funds Trust** | **&nbsp;&nbsp;&nbsp;&nbsp;GreenFi Funds Trust** | **&nbsp;&nbsp;&nbsp;&nbsp;GreenFi Funds Trust** |

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------

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| | |
|:---|:---|
| **What we do** | **What we do** |
| **How do the GreenFi Funds Trust protect my personal information?**<br>| 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. Our service providers are held accountable for adhering to strict policies and procedures to prevent any misuse of your nonpublic personal information.<br>|
| **How do the GreenFi Funds Trust collect my personal information?**<br>| We collect your personal information, for example, when you<br> &nbsp;&nbsp;&nbsp;&nbsp;• Provide account information<br> &nbsp;&nbsp;&nbsp;&nbsp;• Give us your contact information<br> &nbsp;&nbsp;&nbsp;&nbsp;• Make deposits or withdrawals from your account<br> &nbsp;&nbsp;&nbsp;&nbsp;• Make a wire transfer<br> &nbsp;&nbsp;&nbsp;&nbsp;• Tell us where to send the money<br> &nbsp;&nbsp;&nbsp;&nbsp;• Tell us who receives the money<br> &nbsp;&nbsp;&nbsp;&nbsp;• Show your government-issued ID<br> &nbsp;&nbsp;&nbsp;&nbsp;• Show your driver's license<br> We also collect your personal information from other companies.<br>|

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---

| | |
|:---|:---|
| **Why can't I limit all sharing?**<br>| Federal law gives you the right to limit only<br> • Sharing for affiliates' everyday business purposes–information about your creditworthiness<br> • Affiliates from using your information to market to you<br> • Sharing for nonaffiliates to market to you<br> State laws and individual companies may give you additional rights to limit sharing.<br>|
| **Definitions**<br>|  |
| **Affiliates**<br>| &nbsp;&nbsp; Companies related by common ownership or control. They can be financial and nonfinancial companies.<br> • Mission Investment Advisor LLC, the investment adviser to the GreenFi Redwood Fund could be deemed to be an affiliate.<br>|
| **Nonaffiliates**<br>| &nbsp;&nbsp; Companies not related by common ownership or control. They can be financial and nonfinancial companies<br> • The GreenFi Redwood Fund may share with nonaffiliates so they can market to you.<br>|
| **Joint marketing**<br>| A formal agreement between nonaffiliated financial companies that together market financial products or services to you.<br> • The GreenFi Redwood Fund does not jointly market. |

---

### financial statements
The audited financial statements of the Fund dated September 30, 2025, including the financial highlights appearing in the [<u>Form N-CSR</u>](https://www.sec.gov/ix?doc=/Archives/edgar/data/1594854/000199937125019613/redwood-ncsr_093025.htm) filed for the fiscal year ended September 30, 2025, are incorporated by reference and made a part of this document. You may request a copy of the Fund's annual report, semi-annual report, and financial statements, at no charge by calling the Fund at 1-800-683-8529.

------

### appendix a – proxy voting policies
The following proxy voting policies are provided:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) UBS Asset Management's Proxy Voting and Disclosure Policy

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#### UBS Asset Management (Americas), LLC ("UBS AM")

#### Proxy Voting Policy – Summary
Acting in clients' best interests through active ownership

Voting rights hold economic value and should be treated accordingly. Where clients of UBS Asset Management have delegated to us the discretion to exercise the voting rights for shares they beneficially own, we have a fiduciary duty to vote such shares in the clients' best interest and in a manner which achieves the best economic outcome for their investments. This includes where such investment maybe via UBS investment funds managed by UBS-AM.

Voting enables us to voice our opinion to a company on a broad range of topics and is a way of encouraging boards to listen to and address investor concerns. We consider voting to be an important part of our oversight role and integral to both the investment process and our overall stewardship approach.

Wherever possible we seek to vote all shares held consistently across our range of investments, in order to maximize the outcome of the vote.

As long-term shareholders we will generally seek to support current management initiatives. Where we have concerns with a company arising from our stewardship and engagement activities, or in relation to a particular resolution that we believe is not in the interests of our clients, we may choose not to support a particular proposal. This includes resolutions put forward by both company management and outside parties.

In some circumstances we may determine that the voting of a particular proxy would not deliver sufficient benefit to clients, in which case we may abstain or choose not to vote. This can include when there is documentation we are unable to provide, a requirement for a representative to physically attend a meeting in order to vote, or if the process of voting restricts our ability to manage a portfolio during the voting period.

#### Key Voting Principles
Underlying UBS-AM's voting principles are two fundamental objectives:

*1) To maximize the value of our clients' investments and*

*2) As an investment advisor, we have a strong commercial interest that companies in which we invest on behalf of our clients are successful.*

Our core principles are:

#### Board of Directors
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ideally the Board Chair and CEO roles should be separate and held by two separate individuals.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A majority of the board should be regarded as independent, according to UBS-AM criteria.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Board should be comprised of high caliber individuals capable of providing good judgment and diligent oversight with appropriate and diverse backgrounds.

#### Shareholders' Rights
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Voting rights should ideally be granted in line with the "one share-one vote" principle.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Information on the matters to be discussed and voted upon should be disclosed to shareholders clearly and in sufficient time before the shareholder meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Proposals to enhance shareholder rights will normally be supported.

#### Capital Considerations
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The board should allocate capital appropriately and determine a reasonable dividend policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Any new share issuance should require shareholder approval and UBS-AM will only support reasonable share issuance authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mergers & Acquisitions will be supported if they are deemed to increase shareholder value in the longer term.

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#### Audit and Risk Oversight
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The board should appoint a dedicated Audit/Risk Committee, as well as an independent external auditor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Companies are required to have a robust internal audit system with clear processes to identify and manage potential risks.

#### Remuneration Considerations
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Compensation should be aligned with the performance and the strategy of the company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We expect a company to provide a clear explanation of how the structure is in shareholders' economic interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Transparent reporting is expected around senior management and board compensation.

#### Sustainability and ESG Matters
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Boards must implement a robust approach that manages environmental risks impacting the company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Proposals that seek to promote corporate citizenship and environmental stewardship will be closely reviewed and will be supported if in shareholder interests.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Boards should implement policies and strategies which seek to promote diversity and fairness across the workforce.

#### Use of proxy voting advisory services
In order for us to meet our stewardship responsibilities it is essential that we have access to accurate information regarding the corporate governance structure, ESG practices and shareholder meetings of operating companies in which we invest on behalf of our clients and funds.

Taking into account the number of operating companies invested across our range of capabilities, we use the services of a specialist provider for a number of services, to supplement our own assessments.

We have selected Institutional Shareholder Services (ISS) to provide proxy advisory services. ISS are a leading proxy advisory firm, with the appropriate competency, capacity and systems to provide this service on a global basis.

The proxy voting related research and recommendations provided to us by ISS are based upon the proxy guidelines contained in this policy document. We do not delegate our voting responsibilities to ISS and retain full discretion when determining how to vote shares held for our clients and funds.

We regularly monitor the services provided to us by ISS and other external vendors, including performing an annual due diligence on the compliance policies, controls, procedures and quality of service provided. We further require information regarding how the vendor manages any conflicts of interest that may arise through certain affiliations or business practices.

------

File Nos. 333-192991 and 811-22922

#### GREENFI FUNDS TRUST

#### PART C

#### OTHER INFORMATION

#### ITEM 28. Exhibits

---

| | |
|:---|:---|
| (a) | [Amended and Restated Declaration of Trust](https://www.sec.gov/Archives/edgar/data/1594854/000111183014000389/fp0010724_ex9928a1.htm) dated May 12, 2014 ("Trust Instrument") is incorporated herein by reference to Pre-Effective Amendment No. 2 to the Registrant's registration statement on Form N-1A ("Registration Statement") filed on June 19, 2014.<br>|
| (b) | [By-Laws](https://www.sec.gov/Archives/edgar/data/1594854/000153442413000521/f130824_ex99-28b.htm) are incorporated herein by reference to Pre-Effective Amendment No. 1 to the Registration Statement filed on December 23, 2013.<br>|
| (c)<br>| [Articles III, V, and VI](https://www.sec.gov/Archives/edgar/data/1594854/000111183014000389/fp0010724_ex9928a1.htm) of the Trust Instrument define the rights of holders of the securities being registered and are incorporated herein by reference to Pre-Effective Amendment No. 2 to the Registration Statement filed on June 19, 2014.<br>|
| (d)(1) | [Investment Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485425000041/exhibit_d_1.htm) dated October 10, 2024, between the Registrant and Mission Investment Advisors LLC, as investment advisor for the GreenFi Redwood Fund, is incorporated herein by reference to Post-Effective Amendment No. 27 to the Registration Statement filed on November 29, 2024.<br>|
| (d)(2) | [Investment Sub-Advisory Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000041/exhibit_d_2.htm) dated October 10, 2024, between Mission Investment Advisors LLC and UBS Global Asset Management (Americas) LLC, as sub-advisor for the GreenFi Redwood Fund, is incorporated herein by reference to Post-Effective Amendment No. 27 to the Registration Statement filed on November 29, 2024.<br>|
| (e) | [Distribution Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/exhibit_e.htm) dated January 10, 2024, as amended December 9, 2025 between the Registrant and Capital Investment Group, Inc., as distributor for the Registrant, is filed herewith.<br>|
| (f) | Not Applicable.<br>|
| (g)(1)(i) | [Custody Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485415000053/custody.htm) dated December 18, 2014 between the Registrant and UMB Bank, n.a., as custodian for the Registrant is incorporated by reference to Post-Effective Amendment No. 6 to the Registration Statement filed on November 2, 2015.<br>|
| (g)(1)(ii) | [Amended and Restated Appendix A](https://www.sec.gov/Archives/edgar/data/1594854/000159485420000002/custagmt.htm) to the Custody Agreement dated December 18, 2014 between the Registrant and UMB Bank n.a., as custodian for the Registrant, is incorporated herein by reference to Post-Effective Amendment No. 16 to the Registration Statement filed on January 28, 2020.<br>|
| (h)(1)(i) | [Fund <u>Accounting and Administration Service Agreement</u>](https://www.sec.gov/Archives/edgar/data/1594854/000159485415000004/faagmt.htm) dated December 9, 2014 between the Registrant and The Nottingham Company, as administrator for the Registrant, is incorporated by reference to Post-Effective Amendment No. 1 to the Registration Statement filed on January 26, 2015.<br>|
| (h)(1)(ii) | [Amended Schedule 1](https://www.sec.gov/Archives/edgar/data/1594854/000159485421000004/schedule1_adminagmt.htm) dated December 10, 2019 to Fund Accounting and Administration Service Agreement between the Registrant and The Nottingham Company, as administrator for the Registrant, is incorporated herein by reference to Post-Effective Amendment No. 19 to the Registration Statement filed on January 28, 2021.<br>|

---

------

---

| | |
|:---|:---|
| (h)(1)(iii) | [Amended Appendix A](https://www.sec.gov/Archives/edgar/data/1594854/000159485421000004/appendixa_adminagmt.htm) dated June 10, 2020 to Fund Accounting and Administration Service Agreement between the Registrant and The Nottingham Company, as administrator for the Registrant, is incorporated herein by reference to Post-Effective Amendment No. 19 to the Registration Statement filed on January 28, 2021.<br>|
| (h)(2) | [Dividend Disbursing and Transfer Agent Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/taagmt.htm) dated December 9, 2014, as amended December 9, 2025, between the Registrant and Nottingham Shareholder Services, LLC, as transfer agent for the Registrant, is filed herewith.<br>|
| (h)(3) | [Expense Limitation Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485425000007/exhibit_h_3.htm) dated November 19, 2024 between the Registrant and Mission Investment Advisors LLC, as investment advisor for the GreenFi Redwood Fund, is incorporated herein by reference to Post-Effective Amendment No. 28 to the Registration Statement filed January 28, 2025.<br>|
| (h)(4) | [Compliance Services Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000002/exhibit_h_2.htm) dated December 18, 2014, as amended October 7, 2023 between the Registrant and Adviser Compliance Associates, LLC d/b/a ACA Group is incorporated hereby by reference to Post-Effective Amendment No. 26 to the Registration Statement filed on January 29, 2024.<br>|
| (i) | [Opinion and Consent of Counsel](https://www.sec.gov/Archives/edgar/data/1594854/000159485415000053/opinion.htm) dated November 2, 2015 with respect to the GreenFi Redwood Fund is incorporated herein by reference to Post-Effective Amendment No. 6 to the Registration Statement filed on November 2, 2015.<br>|
| (j) | [Consent of Independent Public Accountants](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/exhibit_j.htm)Tait, Weller & Baker LLP is filed herewith.<br>|
| (k) | Not applicable.<br>|
| (l) | [Form of Initial Subscription Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485415000053/intagmt.htm) for the GreenFi Redwood Fund is incorporated herein by reference to Post-Effective Amendment No. 6 to the Registration Statement filed on November 2, 2015.<br>|
| (m) | [Distribution Plan](https://www.sec.gov/Archives/edgar/data/1594854/000159485420000002/distplan.htm) dated December 6, 2016 under Rule 12b-1 for each series of the Registrant is incorporated herein by reference to Post-Effective Amendment No. 16 to the Registration Statement filed on January 28, 2020.<br>|
| (n) | Not applicable.<br>|
| (o) | Reserved.<br>|
| (p)(1) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1594854/000159485416000078/coe-aspiration.htm) for the Registrant is incorporated herein by reference to Post-Effective Amendment No. No. 8 to the Registration Statement filed on January 28, 2016.<br>|
| (p)(2) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/exhibit_p_2.htm) for Mission Investment Advisors LLC is filed herewith.<br>|
| (p)(3) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1594854/000159485423000002/coeubs.htm) for UBS Global Asset Management (Americas), LLC is incorporated herein by reference to Post-Effective Amendment No. 24 to the Registration Statement filed on January 27, 2023.<br>|
| (p)(4) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000002/coe-cig.htm) for Capital Investment Group, Inc. is incorporated herein by reference to Post-Effective Amendment No. 26 to the Registration Statement filed on January 29, 2024.<br>|
| (q)(1) | [Powers of Attorney](https://www.sec.gov/Archives/edgar/data/1594854/000159485423000002/poa.htm) dated December 21, 2022 for the Registrant, Coby King, and David Kingsdale, are incorporated herein by reference to Post-Effective Amendment No. 24 to the Registration Statement filed on January 27, 2023.<br>|
| (q)(2) | [Powers of Attorney](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000002/poas.htm) dated December 18, 2023 for Timothy Newell, Matthew Bergin, and Samantha Lovell are incorporated hereby by reference to Post-Effective Amendment No. 26 to the Registration Statement filed on January 29, 2024.<br>|
| (q)(3) | [Power of Attorney](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000041/exhibit_q_3.htm) dated November 19, 2024 for Samantha Lovell is incorporated herein by reference to Post-Effective Amendment No. 27 to the Registration Statement filed on November 29, 2024.<br>|

---

#### ITEM 29. Persons Controlled by or Under Common Control with the Registrant
No person is controlled by or under common control with the Registrant.

#### ITEM 30. Indemnification
Under Delaware law, Section 3817 of the Treatment of Delaware Statutory Trusts empowers Delaware business trusts to indemnify and hold harmless any trustee or beneficial owner or other person from and against any and all claims and demands whatsoever, subject to such standards and restrictions as may be set forth in the governing instrument of the business trust. The Registrant's Trust Instrument contains the following provisions:

------

**Article VII. Section 2.** <u>Indemnification and Limitation of Liability</u>. The Trustees shall not be responsible or liable in any event for any neglect or wrong-doing of any officer, agent, employee, Advisor or Principal Underwriter of the Trust, nor shall any Trustee be responsible for the act or omission of any other Trustee, and, as provided in Section 3 of this Article VII, the Trust out of its assets shall indemnify and hold harmless each and every Trustee and officer of the Trust from and against any and all claims, demands, costs, losses, expenses, and damages whatsoever arising out of or related to such Trustee's performance of his or her duties as a Trustee or officer of the Trust; provided that nothing herein contained shall indemnify, hold harmless or protect any Trustee or officer from or against any liability to the Trust or any Shareholder to which he or she would otherwise be subject by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his or her office.

Every note, bond, contract, instrument, certificate or undertaking and every other act or thing whatsoever issued, executed or done by or on behalf of the Trust or the Trustees or any of them in connection with the Trust shall be conclusively deemed to have been issued, executed or done only in or with respect to their or his or her capacity as Trustees or Trustee, and such Trustees or Trustee shall not be personally liable thereon.

**Article VII. Section 3.** <u>Indemnification.</u>

(a) Subject to the exceptions and limitations contained in Subsection (b) below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) every person who is, or has been, a Trustee or an officer, employee or agent of the Trust (including any individual who serves at its request as director, officer, partner, trustee or the like of another organization in which it has any interest as a shareholder, creditor or otherwise) ("Covered Person") shall be indemnified by the Trust or the appropriate Series to the fullest extent permitted by law against liability and against all expenses reasonably incurred or paid by him in connection with any claim, action, suit or proceeding in which he becomes involved as a party or otherwise by virtue of his being or having been a Covered Person and against amounts paid or incurred by him in the settlement thereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) as used herein, the words "claim," "action," "suit," or "proceeding" shall apply to all claims, actions, suits or proceedings (civil, criminal or other, including appeals), actual or threatened, and the words "liability" and "expenses" shall include, without limitation, attorneys, fees, costs, judgments, amounts paid in settlement, fines, penalties and other liabilities.

(b) No indemnification shall be provided hereunder to a Covered Person:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) who shall have been adjudicated by a court or body before which the proceeding was brought (A) to be liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office, or (B) not to have acted in good faith in the reasonable belief that his action was in the best interest of the Trust; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) in the event the matter is not adjudicated by a court or other appropriate body, unless there has been a determination that such Covered Person did not engage in willful misfeasance, bad faith, gross negligence or reckless disregard of the duties involved in the conduct of his office: by at least a majority of those Trustees who are neither Interested Persons of the Trust nor are parties to the matter based upon a review of readily available facts (as opposed to a full trial-type inquiry); or by written opinion of independent legal counsel based upon a review of readily available facts (as opposed to a full trial-type inquiry).

(c) The rights of indemnification herein provided may be insured against by policies maintained by the Trust, shall be severable, shall not be exclusive of or affect any other rights to which any Covered Person may now or hereafter be entitled, and shall inure to the benefit of the heirs, executors and administrators of a Covered Person.

(d) To the maximum extent permitted by applicable law, expenses incurred in defending any proceeding may be advanced by the Trust before the disposition of the proceeding upon receipt of an undertaking by or on behalf of such Covered Person that such amount will be paid over by him to the Trust or applicable Series if it is ultimately determined that he is not entitled to indemnification under this Section; provided, however, that either a majority of the Trustees who are neither Interested Persons of the Trust nor parties to the matter, or independent legal counsel in a written opinion, shall have determined, based upon a review of readily available facts (as opposed to a full trial-type inquiry) that there is reason to believe that such Covered Person will not be disqualified from indemnification under this Section.

(e) Any repeal or modification of this Article VII by the Shareholders, or adoption or modification of any other provision of the Declaration or By-laws inconsistent with this Article, shall be prospective only, to the extent that such repeal, or modification would, if applied retrospectively, adversely affect any limitation on the liability of any Covered Person or indemnification available to any Covered Person with respect to any act or omission which occurred prior to such repeal, modification or adoption.

------

In addition, the Registrant has entered into the following agreements: Investment Advisory Agreements, Investment Sub-Advisory Agreements, and Distribution Agreements. These agreements provide indemnification for those entities and their respective affiliates. Certain personnel of the Advisors, Distributor or Administrator may serve as trustees and/or officers of the Trust.

Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended ("Securities Act"), may be permitted to trustees, officers and controlling persons of the Registrant by the Registrant pursuant to the Trust Instrument or otherwise, the Registrant is aware that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act and, therefore, is unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by trustees, officers or controlling persons of the Registrant in connection with the successful defense of any act, suit or proceeding) is asserted by such trustees, officers or controlling persons in connection with the shares being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issues.

#### ITEM 31. Business and other Connections of the Investment Advisor
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Mission Investment Advisors LLC serves as the investment adviser to the GreenFi Redwood Fund. The information required by this Item 31 regarding any other business, profession, vocation or employment of a substantial nature engaged in by Mission Investment Advisors LLC and its directors, officers or partners during the past two years is included in Mission Investment Advisors LLC's Form ADV filed with the SEC (File No. 801-131136) and is incorporated herein by reference.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) UBS Asset Management (Americas), LLC serves as the investment sub-adviser to the GreenFi Redwood Fund. The information required by this Item 31 regarding any other business, profession, vocation or employment of a substantial nature engaged in by UBS Global Asset Management (Americas), LLC and its directors, officers or partners during the past two years is included in UBS Global Asset Management (Americas), LLC's Form ADV filed with the SEC (File No. 801-34910) and is incorporated herein by reference.

#### ITEM 32. Principal Underwriter
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Capital Investment Group, Inc. is underwriter and distributor for the Registrant, Starboard Investment Trust, and Spinnaker ETF Series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Set forth below is information concerning each director and officer of the Distributor. The principal business address of the Distributor and each such person is 100 E. Six Forks Road, Suite 200, Raleigh, NC 27609.

---

| | | |
|:---|:---|:---|
| (1) | (2) | (3) |
| <br> **<u>Name</u>**<br>| **Position and Offices**<br> **<u>With Underwriter</u>**<br>| **Positions and Offices**<br> **<u>with Registrant</u>**<br>|
| Richard K. Bryant<br>| CEO<br>|  |
| Benjamin T. Brooks<br>| President<br>|  |
| Con T. McDonald<br>| Assistant Vice-President<br>|  |
| W. Harold Eddins, Jr.<br>| Assistant Vice-President<br>|  |
| Kurt A. Dressler | Assistant Vice-President |  |
| Ronald L. King | Chief Compliance Officer |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Not applicable.

------

#### ITEM 33. Location of Accounts and Records
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant maintains accounts, books and other documents required by Section 31(a) of the 1940 Act and the rules thereunder ("Records") at the offices of The Nottingham Company, 116 S. Franklin Street, Rocky Mount, NC 27804.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) UMB Bank, n.a. maintains all Records relating to its service as custodian to the Registrant at its offices located at 928 Grand Boulevard, 5th Floor, Kansas City, Missouri 64106.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Nottingham Company maintains all Records related to its services as administrator and fund accountant to the Registrant at its offices located at 116 S. Franklin Street, Rocky Mount, North Carolina 27804.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Nottingham Shareholder Services, LLC maintains all Records related to its services as dividend disbursing and transfer agent to the Registrant at 116 S. Franklin Street, Rocky Mount, North Carolina 27804.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Mission Investment Advisors, LLC maintains all Records related to its services as investment advisor to the GreenFi Redwood Fund at its offices located at 1100 Sansome Street, San Francisco, CA 94111.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) UBS Asset Management (Americas), LLC maintains all Records related to its services as investment sub-adviser to the GreenFi Redwood Fund at its offices located at 1285 Avenue of the Americas, New York, NY 10019.

#### ITEM 34. Management Services
None.

#### ITEM 35. Undertakings
None.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended ("Securities Act"), and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this amendment to the registration statement under Rule 485(b) under the Securities Act and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereto duly authorized, in the City of San Francisco, State of California on this 28<sup>th</sup> day of January, 2026.

---

| | |
|:---|:---|
| GREENFI FUNDS TRUST | GREENFI FUNDS TRUST |
| By: | <u>/s/ Mark Perlow\*</u> |
|  | Mark Perlow |
|  | Attorney-in-Fact |

---

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following person in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| <br> <u>Signature</u><br>| <br> <u>Title</u><br>| <br> <u>Date</u><br>|
| <u>/s/ Coby King\*</u> | Trustee | January 28, 2026 |
| Coby King |  |  |
| <u>/s/ David Kingsdale\*</u> | Trustee and Chairman | January 28, 2026 |
| David Kingsdale |  |  |
| <u>/s/ Timothy Newell\*</u><br> Timothy Newell | President and Principal Executive Officer | January 28, 2026 |
| <u>/s/ Matthew Bergin\*</u><br> Matthew Bergin | Principal Financial Officer | January 28, 2026 |
| <u>/s/ Samantha Lovell\*</u> | Treasurer and Principal Accounting Officer | January 28, 2026 |
| Samantha Lovell |  |  |

---

---

| |
|:---|
| <u>/s/ Mark Perlow</u> |
| \*By: Mark Perlow |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Attorney-in-Fact pursuant to [Powers of Attorney](https://www.sec.gov/Archives/edgar/data/1594854/000159485423000002/poa.htm) dated December 21, 2022 filed on January 27, 2023 [Powers-of-Attorney](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000002/poas.htm) dated December 18, 2023 filed on January 29, 2024, and [Power-of-Attorney](https://www.sec.gov/Archives/edgar/data/1594854/000159485424000041/exhibit_q_3.htm) dated November 19, 2024 filed on November 29, 2024. |

---

------

Exhibit Index

---

| | |
|:---|:---|
| (e) | [Distribution Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485425000003/exhibit_e.htm) |
| (h)(2) | [Dividend Disbursing and Transfer Agent Agreement](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/exhibit_h_2.htm) |
| (j) | [Consent of Independent Public Accountants](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/exhibit_j.htm) Tait, Weller & Baker LLP |
| (p)(2) | [Code of Ethics](https://www.sec.gov/Archives/edgar/data/1594854/000159485426000003/exhibit_p_2.htm) for Mission Investment Advisors LLC |

---

## Ex-99.E

#### Exhibit (e)<br>

#### DISTRIBUTION AGREEMENT
This AGREEMENT, dated January 10, 2024, as amended December 9, 2025, between GREENFI **FUNDS TRUST**, an open-end management investment company organized under the laws of the State of Delaware (the "Trust") and **CAPITAL INVESTMENT GROUP, INC.**, a North Carolina corporation (the "Distributor").

WITNESSETH:

WHEREAS, the Trust is engaged in business as an open-end management investment company and is so registered under the Investment Company Act of 1940, as amended ("1940 Act"); and

WHEREAS, the Trust is authorized to issue an unlimited number of shares of beneficial interest ("Shares") representing interests in a series of securities and other assets, as identified in Appendix A (each a "Fund"); and

WHEREAS, the Trust offers the Shares of such Fund and has registered (or will register) the Shares under the Securities Act of 1933, as amended ("1933 Act"), pursuant to a registration statement on Form N-1A "Registration Statement"), including a prospectus "Prospectus") and a statement of additional information("SAI"); and

WHEREAS, the Trust has adopted a Plan of Distribution pursuant to Rule 12b-1 under the 1940 Act ("Distribution Plan") with respect to Shares of certain classes of the Funds, and may enter into related agreements providing for the distribution of such Shares; and

WHEREAS, Distributor has agreed to act as distributor of the Shares for the term of this Agreement;

NOW, THEREFORE, it is agreed between the parties hereto as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. Appointment of Distributor.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust appoints Distributor its exclusive agent for the distribution of the Shares in jurisdictions wherein such Shares may be legally offered for sale; *provided, however*, that the Trust in its absolute discretion may issue Shares in connection with (i) the payment or reinvestment of dividends or distributions; (ii) any merger or consolidation of the Trust or of a Fund with any other investment company or trust or any personal holding company, or the acquisition of the assets of any such entity or another Fund of the Trust; or (iii) any offer of exchange permitted by Section 11 of the 1940 Act, or any other applicable provision.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Distributor accepts such appointment as exclusive agent for the distribution of the Shares and agrees that it will sell the Shares as agent for the Trust at prices determined as hereinafter provided and on the terms hereinafter set forth, all according to applicable federal and state laws and regulations and to the Trust's Declaration of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Distributor may sell Shares to or through qualified securities dealers or others. Distributor will require each dealer or other such party to conform to the provisions hereof, the Registration Statement and the Prospectus and SAI, and applicable law; and neither Distributor nor any such dealers or others shall withhold the placing of purchase orders for Shares so as to make a profit thereby.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Distributor shall order Shares from the Trust only to the extent that it shall have received purchase orders therefor. Distributor will not make, or authorize any dealers or others to make: (i) any short sales of Shares; or (ii) any sales of Shares to any Trustee or officer of the Trust or to any officer or director of Distributor or of any corporation or association furnishing investment advisory, managerial, or supervisory services to the Trust, or to any such corporation or association, unless such sales are made in accordance with the then current Prospectus and SAI.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Distributor is not authorized by the Trust to give any information or make any representations regarding the Shares of a Fund, except such information or representations as are contained in the Registration Statement or in the current Prospectus or SAI of the applicable Fund, or in advertisements and sales literature prepared by or on behalf of the Trust for Distributor's use.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Notwithstanding any provision hereof, the Trust may terminate, suspend, or withdraw the offering of Shares of any Fund whenever, in its sole discretion, it deems such action to be desirable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. Offering Price of Shares.** All Shares sold under this Agreement shall be sold at the public offering price per Share in effect at the time of the sale, as described in the then current Prospectus of the applicable Fund. The excess, if any, of the public offering price over the net asset value of the Shares sold by Distributor, as agent, shall be retained by Distributor as a commission for its services hereunder. Out of such commission Distributor may allow commissions or concessions to dealers and may allow them to others in its discretion in such amounts as Distributor shall determine from time to time. Except as may be otherwise determined by Distributor from time to time, such commissions or concessions shall be uniform to all dealers. At no time shall the Trust receive less than the full net asset value of the Shares, determined in the manner set forth in the then current Prospectus and SAI for the applicable Fund. Distributor shall also be entitled to such commissions and other fees and payments as may be authorized by the Trustees of the Trust from time to time under the Distribution Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. Furnishing of Information.** The Trust shall furnish to Distributor copies of any information, financial statements, and other documents that Distributor may reasonably request for use in connection with the sale of Shares under this Agreement. The Trust shall also make available a sufficient number of copies of each Fund's current Prospectus and SAI for use by the Distributor.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. Fees and Expenses.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In addition to any commissions, fees, or payments authorized by the Trustees under the Distribution Plan, the Trust will pay or cause to be paid to the Distributor for services provided and expenses assumed by the Distributor the fee of $15,000.00 per annum per Fund. Such fees shall be paid to the Distributor in monthly installments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Trust will also pay or cause to be paid the following expenses: (i) preparation, printing, and distribution to shareholders of the Prospectus and SAI for each Fund; (ii) preparation, printing, and distribution of reports and other communications to shareholders of each Fund; (iii) registration of the Shares under the federal securities laws; (iv) qualification of the Shares for sale in certain states; (v) qualification of the Trust as a dealer or broker under state law as well as qualification of the Trust as an entity authorized to do business in certain states; (vi) maintaining facilities for the issue and transfer of Shares; (vii) supplying information, prices, and other data to be furnished by the Trust under this Agreement; (viii) certain taxes applicable to the sale or delivery of the Shares or certificates therefore, and (ix) such other compensation to the Distributor as the Trustees may authorize, from time to time, in their sole discretion.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Except to the extent such expenses are borne by the Trust pursuant to the Distribution Plan, Distributor will pay or cause to be paid the following expenses: (i) payments to sales representatives of the Distributor and to securities dealers and others in respect of the sale of Shares; (ii) payment of compensation to and expenses of employees of the Distributor and any of its affiliates to the extent they engage in or support distribution of the Shares or render shareholder support services not otherwise provided by the Trust's transfer agent, administrator, or custodian, including, but not limited to, answering routine inquiries regarding each Fund, processing shareholder transactions, and providing such other shareholder services as the Trust may reasonably request; (iii) formulation and implementation of marketing and promotional activities, including, but not limited to, direct mail promotions and television, radio, newspaper, magazine, and other mass media advertising; (iv) preparation, printing, and distribution of sales literature and of Prospectuses and SAIs and reports of the Trust for recipients other than existing shareholders of a Fund; and (v) obtaining such information, analyses, and reports with respect to marketing and promotional activities as the Trust may, from time to time, reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If so requested by the Trustees in connection with the Distribution Plan, Distributor shall prepare and deliver reports to the Trustees of the Trust on a regular basis, at least quarterly, showing the expenditures with respect to any Fund pursuant to the Distribution Plan and the purposes therefor, as well as any supplemental reports as the Trustees of the Trust, from time to time, may reasonably request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. Repurchase of Shares.** Distributor as agent and for the account of the Trust may repurchase Shares offered for resale to it and redeem such Shares at their net asset value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. Indemnification by the Trust.** In absence of willful misfeasance, bad faith, gross negligence, or reckless disregard of obligations or duties hereunder on the part of Distributor, the Trust agrees to indemnify Distributor and its officers and partners against any and all claims, demands, liabilities, and expenses that Distributor may incur under the 1933 Act, or common law or otherwise, arising out of or based upon any alleged untrue statement of a material fact contained in the Registration Statement or any Prospectus or SAI of a Fund, or in any advertisements or sales literature prepared by or on behalf of the Trust for Distributor's use, or any omission to state a material fact therein, the omission of which makes any statement contained therein misleading, unless such statement or omission was made in reliance upon and in conformity with information furnished to the Trust in connection therewith by or on behalf of Distributor. Nothing herein contained shall require the Trust to take any action contrary to any provision of its Agreement and Declaration of Trust or any applicable statute or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. Indemnification by Distributor.** Distributor agrees to indemnify the Trust and its officers and Trustees against any and all claims, demands, liabilities, and expenses that the Trust may incur under the 1933 Act, or common law or otherwise, arising out of or based upon (i) any alleged untrue statement of a material fact contained in the Registration Statement or any Prospectus or SAI of any Fund, or in any advertisements or sales literature prepared by or on behalf of the Trust for Distributor's use, or any omission to state a material fact therein, the omission of which makes any statement contained therein misleading, if such statement or omission was made in reliance upon and in conformity with information furnished to the Trust in connection therewith by or on behalf of Distributor; or (ii) any act or deed of Distributor or its sales representatives, or securities dealers and others authorized to sell Shares hereunder, or their sales representatives, that has not been authorized by the Trust in any Prospectus or SAI of any Fund or by this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. Term and Termination.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Unless terminated as herein provided, with respect to a Fund, this Agreement shall continue in effect for two years from the date of the execution of this Agreement or the commencement of operations of the Fund, as applicable, and, with respect to a Fund, shall continue in full force and effect for successive periods of one year thereafter, but only so long as each such continuance is approved (i) by either the Trustees of the Trust or by vote of a majority of the outstanding voting securities (as defined in the 1940 Act) of the applicable Fund and, in either event, (ii) by vote of a majority of the Trustees of the Trust who are not parties to this Agreement or interested persons (as defined in the 1940 Act) of any such party and who have no direct or indirect financial interest in this Agreement or in the operation of the Distribution Plan or in any agreement related thereto ("Independent Trustees"), cast at a meeting called for the purpose of voting on such approval.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) With respect to any Fund, this Agreement may be terminated at any time without the payment of any penalty by vote of the Trustees of the Trust or a majority of the Independent Trustees or by vote of a majority of the outstanding voting securities (as defined in the 1940 Act) of the applicable Fund or by Distributor, on sixty (60) days' written notice to the other party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) This Agreement shall automatically terminate in the event of its assignment (as defined in the 1940 Act).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. Subcontract.** The Distributor may, at its expense and without the approval of the Trustees, appoint another firm or company as its sub-distributor or agent. The Distributor shall not, however, be relieved of any of its obligations under this Agreement by the appointment of such sub-distributor or agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. Limitation of Liability.** The obligations of the Trust hereunder shall not be binding upon any of the Trustees, officers, or shareholders of the Trust personally, but shall bind only the assets and property of the Trust. The term "Aspiration Funds" means and refers to the Trustees from time to time serving under the Trust's Declaration of Trust. The execution and delivery of this Agreement has been authorized by the Trustees, and this Agreement has been signed on behalf of the Trust by an authorized officer of the Trust, acting as such and not individually, and neither such authorization by such Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, but shall bind only the assets and property of the Trust as provided in the Trust's Declaration of Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11. Books and Records.** In compliance with the requirements of Rule 31a-3 under the 1940 Act, the Distributor agrees that all records that it maintains for the Trust are the property of the Trust and further agrees to surrender promptly to the Trust any of such records upon the Trust's request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12. Notices.** Notices of any kind to be given to the Trust hereunder by the Distributor shall be in writing and shall be duly given if mailed or delivered to Aspiration Funds, 4551 Glencoe Avenue, Marina Del Rey, CA 90292, or to such other address or to such individual as shall be so specified by the Trust to the Distributor. Notices of any kind to be given to the Distributor hereunder by the Trust shall be in writing and shall be duly given if mailed or delivered to Capital Investment Group, Inc., P.O. Box 4365, Rocky Mount, NC 27803, or at such other address or to such individual as shall be so specified by the Distributor to the Trust. Notices shall be effective upon delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13. Anti-Money Laundering.** The Distributor agrees to perform such anti-money laundering ("AML") functions with respect to the Shares as the Trust may reasonably delegate to the Distributor from time to time or as the Distributor is otherwise obligated to perform. In accordance with mutually agreed procedures, the Distributor shall use commercially reasonable efforts in carrying out such functions under the Trust's AML program as it relates to a Fund. It is understood and agreed that shareholders of the Funds are not customers of the Distributor and the Trust and Funds retain legal responsibility under the USA PATRIOT Act for AML compliance with respect to transactions in Shares. The Distributor agrees to allow federal examiners having jurisdiction over the Funds to obtain information and records relating to the Trust's AML program in its possession and to inspect the Distributor for purposes thereof.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14. Confidentiality.** The Distributor agrees, on behalf of itself and its officers, directors, agents, and employees, to treat as confidential all records and other information relating to the Trust and its prior, present, and future shareholders ("Confidential Information") and not to use or disclose the Confidential Information for any purpose other than in performance of its responsibilities and duties under the Agreement. Notwithstanding the forgoing, the Distributor may divulge the Confidential Information (i) with the prior written consent of the Trust; (ii) when the Distributor, in good faith, believes it may be exposed to civil or criminal contempt proceedings for failure to comply with court orders or when requested by duly constituted governmental authorities or the Financial Industry Regulatory Authority pursuant to their respective legal authority, upon prior written notice to the Trust, unless prohibited by the court order or governmental authority; (iii) to the Trust's investment adviser(s), administrator, transfer agent, custodian, outside legal counsel, or independent public accountants, in the ordinary course of business, to the extent necessary for those service providers to perform their respective services to the Trust; (iv) to the Trust, when requested by the Trust; or (v) when requested by a shareholder, but only with respect to Confidential Information that specifically relates to such shareholder and the shareholder's account. For purposes of this section, the following records and other information shall not be considered Confidential Information: any record or other information relating to the Trust and its prior, present, and future shareholders (a) which is or becomes publicly available through no negligent or unauthorized act or omission by the Distributor; (b) which is disseminated by the Trust in a public filing with the SEC or posted on the website of the Trust, the Funds, each Fund's investment adviser, or any of the Funds' other service providers for general public review; (c) which is lawfully obtained from third parties who are not under an obligation of confidentiality to the Trust or its prior, present, and future shareholders; or (d) previously known by the Distributor prior to the date of the Agreement.

[signatures on following page]

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IN WITNESS THEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above.

**---

| | |
|:---|:---|
|  | GREENFI FUNDS TRUST |
| By: <br>| <u>/s/ Timothy Newell</u> <br>|
|  | Timothy Newell, President and CEO<br>|
|  | CAPITAL INVESTMENT GROUP, INC. |
| By:  | <u>/s/ Ronald L. King</u>  |
|  | Ronald L. King, AVP & CCO  |

---

** <br>

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#### APPENDIX A
SERIES OF THE TRUST

*(updated December 9, 2025)*

GreenFi Redwood Fund

## Ex-99.H

**Exhibit (h)(2)**<br>

#### DIVIDEND DISBURSING AND TRANSFER AGENT AGREEMENT
THIS DIVIDEND DISBURSING AND TRANSFER AGENT AGREEMENT ("Agreement") is made and entered into as of December 9, 2014, as amended December 9, 2025, by and between GREENFI FUNDS TRUST, a Delaware open-end management investment company (the "Trust"), and NOTTINGHAM SHAREHOLDER SERVICES, LLC, a North Carolina limited liability company (the "Transfer Agent").

WHEREAS, the Trust is an open-end management investment company of the series type which is registered under the Investment Company Act of 1940 ("1940 Act"); and

WHEREAS, the Transfer Agent is in the business of providing dividend disbursing, transfer agent, and shareholder services to investment companies;

NOW THEREFORE, the Trust and the Transfer Agent do mutually promise and agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. <u>Employment.</u> The Trust hereby employs Transfer Agent to act as dividend disbursing and transfer agent for the GreenFi Redwood Fund (the "Fund"). Transfer Agent, at its own expense, shall render the services and assume the obligations herein set forth subject to being compensated therefore as herein provided.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. <u>Delivery of Documents.</u> The Trust has furnished the Transfer Agent with copies properly certified or authenticated of each of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Trust's Declaration of Trust ("Trust Instrument") and Certificate of Trust, as filed with the State of Delaware (such Trust Instrument, as presently in effect and as it shall from time to time be amended);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Trust's By-Laws (such By-Laws, as presently in effect and as they shall from time to time be amended, are herein called the "By-Laws");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Resolutions of the Trust's board of trustees ("Board of Trustees") authorizing the appointment of the Transfer Agent and approving this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Trust's registration statement ("Registration Statement") on Form N-1A under the 1940 Act and under the Securities Act of 1933 as amended, ("1933 Act"), including all exhibits, relating to shares of beneficial interest of, and containing the prospectus ("Prospectus") of, the Fund (herein called the "Shares") as filed with the Securities and Exchange Commission ("SEC") and all amendments thereto.

The Trust will also furnish the Transfer Agent with copies, properly certified or authenticated, of all amendments of or supplements to the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. <u>Duties of the Transfer Agent.</u> Subject to the policies and direction of the Board of Trustees, the Transfer Agent will provide day-to-day supervision for the dividend disbursing, transfer agent, and shareholder servicing operations of the Fund. Services to be provided shall be in accordance with the Trust's organizational and registration documents as listed in paragraph 2 hereof and with the Prospectus of the Fund. The Transfer Agent further agrees that it:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Will conform to all applicable rules and regulations of the SEC and will, in addition, conduct its activities under this Agreement in accordance with regulations of any other federal and state agency that may now or in the future have jurisdiction over its activities;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Will provide, at its expense, the non-executive personnel and data processing equipment and software necessary to perform the Shareholder Servicing functions shown on Exhibit A hereof; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Will provide all office space and general office equipment necessary for the dividend disbursing, transfer agent, and shareholder servicing activities of the Trust except as may be provided by third parties pursuant to separate agreements with the Trust.

Notwithstanding anything contained in this Agreement to the contrary, the Transfer Agent (including its directors, officers, employees, and agents) shall not be required to perform any of the duties of, assume any of the obligations or expenses of, or be liable for any of the acts or omissions of, any investment advisor of the Fund or other third party subject to separate agreements with the Trust. The Transfer Agent shall not be responsible hereunder for the administration of the code of ethics of the Trust ("Code of Ethics") which shall be under the responsibility of the investment advisors, except insofar as the Code of Ethics applies to the personnel of the Transfer Agent. It is the express intent of the parties hereto that the Transfer Agent shall not have control over or be responsible for the placement (except as specifically directed by a shareholder of the Trust), investment or reinvestment of the assets of the Fund. The Transfer Agent may from time to time, subject to the approval of the Board of Trustees, obtain at its own expense the services of consultants or other third parties to perform part or all of its duties hereunder, and such parties may be affiliates of the Transfer Agent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. <u>Services Not Exclusive</u>. The services furnished by the Transfer Agent hereunder are not to be deemed exclusive, and the Transfer Agent shall be free to furnish similar services to others so long as its services under this Agreement are not impaired thereby.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Books and Records</u>. In compliance with the requirements of Rule 31a-3 under the 1940 Act, the Transfer Agent hereby agrees that all records that it maintains for the Trust are the property of the Trust and further agrees to surrender promptly to the Trust any of such records upon the Trust's request.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. <u>Expenses</u>. During the term of this Agreement, the Transfer Agent will furnish at its own expense its office space and the executive, supervisory, and clerical personnel reasonably necessary to perform its obligations under this Agreement. The Trust assumes and shall be responsible for all other expenses of the Trust and/or the Fund not otherwise allocated in this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. <u>Compensation.</u> For the services provided and the expenses assumed by the Transfer Agent pursuant to this Agreement, the Trust will pay the Transfer Agent and the Transfer Agent will accept as full compensation the fees and expenses as set forth on Exhibit B attached hereto. Special projects, not included herein and requested in writing by the Board of Trustees, shall be completed by the Transfer Agent and invoiced to the Trust on terms mutually agreed upon.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. <u>Limitation of Liability.</u> The Transfer Agent shall not be liable for any loss, damage, or liability related to or resulting from the placement (except as specifically directed by a Shareholder of the Trust), investment, or reinvestment of assets in the Fund or the acts or omissions of the Fund's investment advisor or any other third party subject to separate agreements with the Trust. Further, the Transfer Agent shall not be liable for any error of judgment or mistake of law or for any loss or damage suffered by the Trust in connection with the performance of this Agreement or any agreement with a third party, except a loss resulting directly from (i) a breach of fiduciary duty on the part of the Transfer Agent with respect to the receipt of compensation for services; or (ii) willful misfeasance, bad faith, gross negligence, or reckless disregard on the part of the Transfer Agent in the performance of its duties or from reckless disregard by it of its duties under this Agreement.

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The provisions contained in section shall survive the expiration or other termination of this Agreement, shall be deemed to include and protect the Transfer Agent and its directors, officers, employees, and agents and shall inure to the benefit of its/their respective successors, assigns, and personal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. <u>Indemnification of Transfer Agent</u>. Subject to the limitations set forth in this section, and provided the Transfer Agent has exercised reasonable customary care in the performance of its duties under this Agreement, the Trust shall indemnify, defend, and hold harmless (from the assets of the Fund to which the conduct in question relates) the Transfer Agent against all loss, damage, and liability, including but not limited to amounts paid in satisfaction of judgments, in compromise or as fines and penalties, and expenses, including reasonable accountants' and counsel fees, incurred by the Transfer Agent in connection with the defense or disposition of any action, suit, or other proceeding, whether civil or criminal, before any court or administrative or legislative body, related to or resulting from this Agreement or the performance of services hereunder, except with respect to any matter as to which it has been determined that the loss, damage, or liability is a direct result of (i) a breach of fiduciary duty on the part of the Transfer Agent with respect to the receipt of compensation for services; or (ii) willful misfeasance, bad faith, gross negligence, or reckless disregard on the part of the Transfer Agent in the performance of its duties or from reckless disregard by it of its duties under this Agreement (either and both of the conduct described in clauses (i) and (ii) above being referred to hereinafter as "Disabling Conduct"). A determination that the Transfer Agent is entitled to indemnification may be made by (i) a final decision on the merits by a court or other body before whom the proceeding was brought that the Transfer Agent was not liable by reason of Disabling Conduct, (ii) dismissal of a court action or an administrative proceeding against the Transfer Agent for insufficiency of evidence of Disabling Conduct, or (iii) a reasonable determination, based upon a review of the facts, that the Transfer Agent was not liable by reason of Disabling Conduct by (a) vote of a majority of a quorum of Trustees who are neither "interested persons" of the Trust as the quoted phrase is defined in Section 2(a)(19) of the 1940 Act nor parties to the action, suit or other proceeding on the same or similar grounds that is then or has been pending or threatened (such quorum of such Trustees being referred to hereinafter as the "Independent Trustees") or (b) an independent legal counsel approved by the Trustees, including a majority of Independent Trustees, (hereinafter referred to as an "independent legal counsel") in a written opinion. Expenses, including accountants' and counsel fees so incurred by the Transfer Agent (but excluding amounts paid in satisfaction of judgments, in compromise or as fines or penalties), shall be paid from time to time by the Fund to which the conduct in question related in advance of the final disposition of any such action, suit or proceeding; provided, that the Transfer Agent shall have undertaken to repay the amounts so paid unless it is ultimately determined that it is entitled to indemnification of such expenses under this section and if (i) the Transfer Agent shall have provided security for such undertaking, (ii) the Trust shall be insured against losses arising by reason of any lawful advances, or (iii) a majority of the Independent Trustees, or an independent legal counsel in a written opinion, shall have determined, based on a review of readily available facts (as opposed to a full trial-type inquiry), that there is reason to believe that the Transfer Agent ultimately will be entitled to indemnification hereunder.

As to any matter disposed of by a compromise payment by the Transfer Agent referred to in this section, pursuant to a consent decree or otherwise, no such indemnification either for said payment or for any other expenses shall be provided unless such indemnification shall be approved (i) by a majority of the Independent Trustees or (ii) by an independent legal counsel in a written opinion. Approval by the Independent Trustees pursuant to clause (i) shall not prevent the recovery from the Transfer Agent of any amount paid to the Transfer Agent in accordance with either of such clauses as indemnification of the Transfer Agent is subsequently adjudicated by a court of competent jurisdiction not to have acted in good faith in the reasonable belief that the Transfer Agent's action was in or not opposed to the best interests of the Trust or to have been liable to the Trust or its Shareholders by reason of willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in its conduct under the Agreement.

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The right of indemnification provided by this section shall not be exclusive of or affect any of the rights to which the Transfer Agent may be entitled. Nothing contained in this section shall affect any rights to indemnification to which Trustees, officers, or other personnel of the Trust, and other persons may be entitled by contract or otherwise under law, nor the power of the Trust to purchase and maintain liability insurance on behalf of any such person.

The Board of Trustees of the Trust shall take all such action as may be necessary and appropriate to authorize the Trust hereunder to pay the indemnification required by this section including, without limitation, to the extent needed, to determine whether the Transfer Agent is entitled to indemnification hereunder and the reasonable amount of any indemnity due it hereunder, or employ independent legal counsel for that purpose.

The provisions contained in section shall survive the expiration or other termination of this Agreement, shall be deemed to include and protect the Transfer Agent and its directors, officers, employees, and agents and shall inure to the benefit of its/their respective successors, assigns, and personal representatives.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. <u>Confidentiality.</u> The Transfer Agent agrees, on behalf of itself and its officers, directors, agents, and employees, to treat as confidential all records and other information relating to the Trust and its prior, present, and future shareholders ("Confidential Information") and to not use or disclose the Confidential Information for any purpose other than in performance of its responsibilities and duties under the Agreement. Notwithstanding the forgoing, the Transfer Agent may divulge the Confidential Information (i) with the prior written consent of the Trust; (ii) when the Transfer Agent, in good faith, believes it may be exposed to civil or criminal contempt proceedings for failure to comply with court orders or when requested by duly constituted governmental authorities or the National Association of Securities Dealers pursuant to their respective legal authority, upon prior written notice to the Trust, unless prohibited by the court order or governmental authority; (iii) to the Trust's investment adviser(s), administrator, distributor, custodian, outside legal counsel, or independent public accountants, in the ordinary course of business, to the extent necessary for those service providers to perform their respective services to the Trust; (iv) to the Trust, when requested by the Trust; or (v) when requested by a shareholder, but only with respect to Confidential Information that specifically relates to such shareholder and the shareholder's account. For purposes of this section, the following records and other information shall not be considered Confidential Information: any record or other information relating to the Trust and its prior, present, and future shareholders (a) which is or becomes publicly available through no negligent or unauthorized act or omission by the Transfer Agent; (b) which is disseminated by the Trust in a public filing with the SEC or posted on the website of the Trust, the Fund, the Fund's investment adviser, or any of the Fund's other service providers for general public review; (c) which is lawfully obtained from third parties who are not under an obligation of confidentiality to the Trust or its prior, present, and future shareholders; or (d) previously known by the Transfer Agent prior to the date of the Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. <u>Duration and Termination</u>. This Agreement shall become effective as of the date hereof and shall thereafter continue in effect unless terminated as herein provided. This Agreement may be terminated by either party hereto (without penalty) at any time by giving not less than 60 days' prior written notice to the other party hereto. Upon termination of this Agreement, the Trust shall pay to the Transfer Agent such compensation as may be due as of the date of such termination, and shall likewise reimburse the Transfer Agent for any out-of-pocket expenses and disbursements reasonably incurred by the Transfer Agent to such date.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. <u>Amendment.</u> This Agreement may be amended by mutual written consent of the parties. If, at any time during the existence of this Agreement, the Trust deems it necessary or advisable in the best interests of the Trust that any amendment of this Agreement be made in order to comply with the recommendations or requirements of the SEC or state regulatory agencies or other governmental authority, or to obtain any advantage under state or federal laws, and shall notify the Transfer Agent of the form of Amendment which it deems necessary or advisable and the reason therefore, and if the Transfer Agent declines to assent to such amendment, the Trust may terminate this Agreement forthwith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. <u>Notice.</u> Any notice that is required to be given by the parties to each other under the terms of this Agreement shall be in writing and will be deemed sufficient if personally delivered or sent by registered or certified mailed, postage prepaid, address to the other party at the principal place of business of such party. Notices shall be effective upon delivery.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. <u>Construction.</u> This Agreement shall be governed and enforced in accordance with the laws of the State of North Carolina without regard to the principles of the conflict of laws or the choice of laws. If any provision of this Agreement, or portion thereof, shall be determined to be void or unenforceable by any court of competent jurisdiction, then such determination shall not affect any other provision of this Agreement, or portion thereof, all of which other provisions and portions thereof shall remain in full force and effect. If any provision of this Agreement, or portion thereof, is capable of two interpretations, one of which would render the provision, or portion thereof, void and the other of which would render the provision, or portion thereof, valid, then the provision, or portion thereof, shall have the meaning that renders it valid.

[*SIGNATURES ON NEXT PAGE]*

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed by their duly authorized officers effective as of the date indicated above.

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| | |
|:---|:---|
|  | **GREENFI FUNDS TRUST** |
| By: <br>| &nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Timothy Newell</u><br>|
|  | Tim Newell, President and Chief Executive Officer |
|  | **NOTTINGHAM SHAREHOLDER SERVICES, LLC** |
| By: <br>| <u>/s/ Robert J. Myers</u> |
|  | Robert J. Myers, Managing Member |

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#### EXHIBIT A

#### Dated: December 9, 2014

#### SHAREHOLDER SERVICING FUNCTIONS
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Process new accounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Process purchases of Fund shares, both initial and subsequent m accordance with conditions set forth in the
 Fund's prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Transfer shares of capital stock to an existing account or to a new account upon receipt of required documentation in good
 order.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Distribute dividends and/or capital gain distributions. This includes disbursement as cash or reinvestment and to change
 the disbursement option at the request of shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Process exchanges between funds (process and direct purchase/redemption and initiate new account or process to existing
 account).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Make miscellaneous changes to records, including, but not necessarily limited to, address changes and changes in plans
 (such as systematic withdrawal, dividend reinvestment, etc.).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Prepare and mail a year-to-date confirmation and statement as each transaction is recorded in a shareholder
 account as follows: original to shareholder. Duplicate confirmations to be available on request within current year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Handle telephone calls and correspondence in reply to shareholder requests except those items otherwise set forth herein.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) Daily control and reconciliation of Fund shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Prepare address labels or confirmations for four reports to shareholders per year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11) Mail and tabulate proxies for one Meeting of Shareholders annually, including preparation of certified
 shareholder list and daily report to Fund management, if required.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12) Prepare, with the assistance of the Trust's accountants, and mail annual Form 1099 and 5498 to shareholders to whom
 dividends or distributions are paid, with a copy for the IRS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) Provide readily obtainable data that may from time to time be requested for audit purposes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) Replace lost or destroyed checks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) Continuously maintain all records for active and closed accounts according to the Investment Company Act of 1940
 and regulations provided thereunder.

## Ex-99.J

**Exhibit (j)**<br>

#### CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the references to our firm in the Post-Effective Amendment No. 29 and Amendment No. 33 to the Registration Statement on Form N-1A of GreenFi Redwood Fund and to the use of our report dated November 26, 2025 on the financial statements and financial highlights of the GreenFi Redwood Fund, a series of GreenFi Funds Trust, appearing in Form N-CSR for the year ended September 30, 2025, which are also incorporated by reference into the Registration Statement.

#### /s/ TAIT, WELLER & BAKER LLP

#### Philadelphia, Pennsylvania

#### January 28, 2026

## Ex-99.P

**Exhibit (p)(2)**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**38. CODE OF ETHICS**

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| | |
|:---|:---|
| &nbsp;&nbsp; <br> **<u>Risk Addressed by</u>**<br> **<u>Policy</u>:** | &nbsp;&nbsp; <br> GreenFi's Clients are harmed resulting from fraudulent and deceptive personal trading in securities by Covered Persons and the giving and receipt of gifts and/or entertainment by employees results in the appearance of impropriety or a conflict of interest |
| &nbsp;&nbsp; <br> **<u>Risk Level</u>**<u>:</u> | &nbsp;&nbsp; <br> High |
| &nbsp;&nbsp; <br> **<u>Relevant Law and</u>**<br> **<u>Other Sources:</u>** | &nbsp;&nbsp; <br> Rule 17j-1 under the 1940 Act; Section 204A of the Advisors Act; Rule 204A-1 under the Advisor Act; Form N-1A and N-2, FINRA Rules 2820, 2830, and 3060; Rule<br> 204-2(a)(13)(i) |

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#### P OLICY
GreenFi's policy is to adopt and maintain a Code of Ethics governing Covered Person conduct with respect to ethics, personal securities transactions and gifts & entertainment. The Code of Ethics, attached as Appendix A and incorporated fully by reference, contains provisions specifically directed to Covered Persons, whereas these policies and procedures are intended to govern the actions of the CCO in relation to the administration of the Code of Ethics

#### B ACKGROUND & D ESCRIPTION
Various federal and state securities laws and Rule 204A-1 under the Advisors Act require investment advisors to adopt a code of ethics to set forth standards of conduct for compliance with federal securities laws and to address personal securities trading.

#### R ESPONSIBILITY
The CCO is responsible for the implementation and monitoring of GreenFi's Code of Ethics (including associated practices, disclosures and recordkeeping). The CCO may delegate responsibility for the performance of these activities (provided that it maintains records evidencing individual delegates) but oversight and ultimate responsibility remain with the CCO.

#### P ROCEDURE
GreenFi has adopted various procedures to implement GreenFi's Code of Ethics and reviews to monitor and ensure that GreenFi's policy is observed, implemented properly and amended or updated, as appropriate.

<br> ● The CCO shall promptly provide all Covered Persons with a copy of the Code. In addition, the CCO must maintain the Acknowledgement contained within the Code of Ethics which all persons covered by the Code must complete initially at hire and each year thereafter.

<br> ● The CCO will provide the Code of Ethics of any Reportable Fund to relevant Access Persons

<br> ● The CCO shall identify all Access Persons and Temporary Access Persons and inform them of their obligations promptly

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● In determining whether to approve a Personal Trade Request ("PTR"), the CCO will determine, in good faith, whether the Access Person knows, or should know, that a Client account would be engaging in a transaction involving such a Security within a day of submitting the PTR. Additionally, the CCO should assess whether any potential conflict of interest exists with respect to the Security at issue. The CCO must maintain a record of any decision relating to pre-clearance requests, and the reasons supporting the decision, for at least five years after the end of the fiscal year in which the approval is granted

● On a quarterly basis, the CCO will provide to all Access Persons electronically, the forms contained within the Code of Ethics with respect to personal securities transactions. The CCO will track and monitor the provision of those forms and will address any failures to comply with the transaction reporting requirement

● The CCO will, on a quarterly basis, compare all reported personal securities transactions and pre-clearance requests with Clients' completed portfolio transactions during the quarter to determine whether a Code violation may have occurred. The CCO may request additional information or take any other appropriate measure that he or she decides is necessary to aid in this determination

<br> ● If the CCO finds that a Code violation has occurred, the CCO must report the possible violation to Senior Management

<br> ● The CCO will submit his or her own reports (as required) to an alternate compliance officer who will fulfill the duties of the CCO with respect to such reports

● At the time of hire, and on an annual basis thereafter, the CCO will provide to all Access Persons the forms contained within the Code of Ethics with respect to personal securities holdings. The CCO will track and monitor the provision of those forms and will address any failures to comply with the holdings reporting requirement

● At least annually, the CCO must furnish to Senior Management and the Executive Committee a written report that describes any issues arising under the Code since the previous report, including, but not limited to, information about material violations of the Code and sanctions imposed in response to the material violations; and certifies that the Code contains policies and procedures reasonably designed to prevent Access Persons from violating the Code

● The CCO will annually review the content and format of the Code and make any modifications necessary to maintain the reasonableness of its policies and procedures to prevent and detect violations of the Code and relevant rules of law. An updated Code of Ethics will be provided to all Access Persons on an annual basis

● The CCO will review all disclosed Covered Person board memberships, advisory positions, trade group positions, management positions, or any involvement with public companies ("outside business activity") in relation to potential conflicts of interest. The CCO in conjunction with Senior Management and the Executive Committee will make a determination with respect to whether to approve or deny an outside business activity request in light of GreenFi's status as a fiduciary.

● Any gifts or accommodations in excess of the *de minims* amount are required to be submitted to the CCO for prior approval. The CCO will maintain documentation of all such requests and resulting approvals or denials

<br> ● Any preferential treatment extended to an GreenFi Covered Person (for example, offer of a discount) by an GreenFi business contact must be pre-approved by the CCO before proceeding with the transaction

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<br> ● The CCO must review each PTR and record the decision regarding the request. The general standards for granting or denying pre-clearance are contained within the Code of Ethics

<br> ● The CCO shall maintain duplicate copies of trade confirmations and periodic statements directed to GreenFi by Access Persons in accordance with the Code of Ethics

<br> ● Access persons must obtain pre-clearance prior to acquiring or disposing of a direct or indirect Beneficial Ownership interest in any Security, other than Exempt Securities

<br> ● The CCO will monitor the holding periods of any Access Persons Securities to ensure that no Security held by a Client is purchased and sold within the period prescribed by the Code of Ethics

### A PPENDIX A
GreenFi's Code Of Ethics

#### I NTRODUCTION
**Mission Investment Advisors LLC** ("GreenFi"), in accordance with the requirements of Rule 204A of the Investment Advisors Act of 1940 (the "Advisors Act"), has approved and adopted this Code of Ethics (the "Code"). This Code sets forth the general fiduciary principles and standards of business conduct to which all of GreenFi's Covered Persons are subject. This Code further sets forth policies and procedures that are reasonably designed to prevent Access Persons, as defined herein, from engaging in conduct prohibited by the Advisors Act and establishes reporting requirements for these Access Persons. Certain capitalized terms used in this Code and not defined in the text herein, such as "Access Persons," are defined in **Appendix A-1**.

#### About GreenFi
GreenFi is an investment advisor registered with the Securities and Exchange Commission ("SEC") pursuant to the Advisor Act. GreenFi acts as investment advisor to Clients who are entities including investment companies registered under the Investment Company Act of 1940 (the "Company Act").

#### Who is Covered by the Code?
This Code applies to all employees and senior managers of GreenFi or other persons (hereinafter "Covered Persons") as determined by GreenFi's Chief Compliance Officer ("CCO"). It is the responsibility of each Covered Person to immediately report to GreenFi's CCO, any known or suspected violations of this Code, the Compliance Manual and the policies and procedures contained therein, or of any other activity of any Covered Person or consultant that could constitute a violation of law. If you are aware of any activity in this regard, you should contact the CCO immediately. Failure to report a potential violation could result in disciplinary action against the non-reporting Covered Person. GreenFi will ensure that Covered Persons are not subject to retaliation in their employment as a result of reporting a known or suspected violation.

#### Things You Need to Know to Use this Code
There are three reporting forms that Access Persons have to fill out under this Code: Annual Holdings and Certification Report: **Appendix A-4 (Form of)**

Quarterly Transactions Report: **Appendix A-5**. (Form of)

Acknowledgement of Code of Ethics (which must be renewed on a yearly basis): **Appendix A-6 (Form of)**

Copies of these forms are attached to this Code for reference, however the Advisor's procedures for compliance reporting and monitoring will be done electronically.

The CCO has the authority to grant written waivers of the provisions of this Code in appropriate instances. However, (i) it is expected that waivers will be granted only in rare instances and, (ii) some provisions of the Code are prescribed by SEC rules and cannot be waived. These provisions include, but are not limited to, the requirements that Access Persons file reports and obtain pre-approval of investments in IPOs and Limited Offerings.

The CCO will review the terms and provisions of this Code at least annually and make amendments as necessary. Any amendments to this Code will be provided to you.

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#### G ENERAL F IDUCIARY P RINCIPLES

#### A CTING AS A F IDUCIARY

#### <br>
It is the policy of GreenFi to act in the best interest of its Clients and on the principles of full disclosure, good faith and fair dealing. GreenFi recognizes that it has a fiduciary duty to its Clients. Acting as a fiduciary requires that GreenFi, consistent with its other statutory and regulatory obligations, act <u>solely</u> in the Clients' best interests when engaging in activities on behalf of Clients. GreenFi and its Covered Persons must seek to avoid situations which may result in potential or actual conflicts of interest with these duties. To this end, the following principles apply:

<br> ● All Covered Persons must always observe the highest standards of integrity and fair dealing and conduct their personal and business dealings in accordance with the letter, spirit and intent of all relevant laws and regulations

<br> ● GreenFi must have a reasonable basis for decisions it makes for its Client

<br> ● GreenFi must ensure that its investment decisions are consistent with Client's investment objectives, policies and any disclosures made to Clients

<br> ● All Covered Persons must refrain from entering into transactions, including personal securities transactions, that are inconsistent with the interests of Clients

<br> ● Covered Persons should not take inappropriate advantage of their positions and may not, directly or indirectly, use Client opportunities for personal gain

<br> ● Covered Persons must be loyal to the Clients and place the interests of the Clients above their own

● GreenFi treats violations of this Code very seriously. If you violate this Code, GreenFi may take disciplinary measures against you, including, without limitation, imposing penalties or fines, reducing your compensation, demoting you, requiring unwinding of the trade, requiring disgorgement of trading gains, suspending or terminating your employment, or any combination of the foregoing

● Improper trading activity can constitute a violation of this Code. You can also violate this Code, however, by failing to file required reports, or by making inaccurate or misleading reports or statements concerning trading activity or securities accounts. Your conduct can violate this Code even if no Clients are harmed by your conduct.

If you have any doubt or uncertainty about what this Code requires or permits, you should ask the CCO. Do <u>not</u> guess at the answer.

#### C OMPLIANCE WITH THE F EDERAL S ECURITIES L AWS
Covered Persons are required to comply with applicable federal securities laws at all times. Examples of applicable federal securities laws include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The Securities Act of 1933, the Securities Exchange Act of 1934, the Sarbanes-Oxley Act of 2002 and the SEC rules thereunder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The Investment Advisors Act of 1940 and the SEC rules thereunder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The Investment Company Act of 1940 and the SEC rules thereunder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Title V of the Gramm-Leach-Bliley Act of 1999 (privacy and security of Client non-public information)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● The Bank Secrecy Act, as it applies to mutual funds and investment Advisors, and the SEC and Department of the Treasury rules thereunder

#### C ONFLICTS OF I NTEREST

#### P ERSONAL C ONFLICTS
All Covered Persons must avoid establishing financial interests or outside affiliations which may create a conflict, or appear to create a conflict, between the Covered Person's personal interests and the interests of GreenFi or its Clients. A potential conflict of interest exists whenever a Covered Person has a direct financial or other personal interest in any transaction or proposed transaction involving GreenFi or any of its Clients. A conflict of interest may also exist where the Covered Person has an indirect interest in a transaction, for example, because the transaction will benefit someone with whom the Covered Person has a friendship or other personal relationship.

In such situations, Covered Persons must disclose the conflict to the CCO and recuse themselves from the decision-making process with respect to the transaction in question and from influencing or appearing to influence the relationship between GreenFi or any of its Clients and the customer involved. Covered Persons may not use non-public knowledge of a pending or currently considered securities transaction for a Client to profit personally, directly or indirectly, as a result.

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#### C ONFLICT OF I NTEREST BETWEEN G REEN F I AND A C LIENT
In certain instances, GreenFi's relationship with a Client may require GreenFi to place the Client's interest above its own interests. If a Covered Person becomes aware of a situation where GreenFi's pursuit of its own interests in a transaction appears to conflict with its obligations to a Client, he or she should bring the situation to the immediate attention of the CCO.

#### T HE A PPEARANCE OF A C ONFLICT OF I NTEREST M UST B E A VOIDED
All Covered Persons are expected to be objective in making business decisions and to consider any improper interest or influence that could arguably impair that objectivity. In determining whether there is an appearance of conflict, each Covered Person should determine whether a reasonable, disinterested observer (*i.e.*, investor, supplier, broker, an acquaintance, examiner or a government representative) would have any grounds to believe: <br>

<br> ● That GreenFi was serving its own interests or one Client's interests at the expense of anoth

<br> ● That business with Clients or GreenFi was done on the basis of friendship, family ties, the giving and receiving of gifts, or to curry favor with some specific entity or individual rather than on the merits

If a Covered Person's participation in a decision-making process would raise the appearance of conflict of interest, the Covered Person should inform his or her manager immediately.

#### O UTSIDE B USINESS A CTIVITIES
All Covered Person board memberships, advisory positions, trade group positions, management positions, or any involvement with public companies must be fully disclosed and submitted for <u>prior</u> approval to the CCO, with the exception of purely charitable or civic involvements which do not impinge on the Covered Person's work commitment to GreenFi. Approval must be obtained through the CCO and will ordinarily require consideration by senior management of GreenFi. GreenFi can deny approval for any reason. This prohibition does not apply to service as an officer or board member of any parent, subsidiary or affiliate of GreenFi.

#### P REFERENTIAL T REATMENT
Covered Persons must make investment decisions, undertake commitments, and perform their duties and obligations without favoritism of any kind and award business or contracts strictly on the basis of merit. A Covered Person should not actively seek nor accept a discount on any item for personal use from a business contact. If such a person extends preferential treatment (for example, offers a discount) to a Covered Person in a personal transaction, the Covered Person must have the preferential treatment pre-approved by the CCO before proceeding with the transaction.

#### B ORROWING
Covered Persons should borrow only from reputable organizations that regularly lend money. Borrowing from relatives, however, is not subject to restriction. If a Covered Person borrows from any financial institution, the loan must not involve favored treatment of any kind based upon their employment with GreenFi.

#### G IFTS AND G RATUITIES
No Covered Person may accept or receive on their own behalf or on behalf of GreenFi any gift or other accommodation which has a value in excess of a *de minimis* amount (currently $500) from any vendor, broker, public company, securities salesman, Client or prospective Client (a "business contact"). No Covered Person may accept cash gifts or cash equivalents from any such person. This prohibition applies equally to gifts to members of the Family/Household of a Covered Person. Any gifts or accommodations in excess of the *de minimis* amount must be submitted to the CCO for prior approval. The CCO will maintain documentation of all such requests and resulting approvals or denials. Any gifts or accommodations in excess of $500 amount must be recorded on the GreenFi Gift Log and submitted to the recipient's supervisor for approval.

**<u>Access Persons who are also registered representatives of GreenFi Financial, should remember they they are</u> <u>subject to FINRA's $100 gift limit and should be able to demonstrate when a gift given or received is a gift of</u> <u>the advisor or the broker dealer.</u>**

No Covered Person may give on their own behalf or on behalf of GreenFi any gift or other accommodation to a business contact that may be construed as an improper attempt to influence the recipient. These policies are not intended to prohibit normal and customary business entertainment.

All gifts, given and received, must be reported on the quarterly transaction report form.

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#### E NTERTAINMENT AND M EALS
Payment for entertainment or meals where the Covered Person is not accompanied by the person purchasing the entertainment or meals is considered a gift, subject to the rules discussed above. Acceptance of meals and entertainment where the host is present is generally permitted. However, the acceptance of particularly lavish entertainment or entertainment with excessive frequency is generally inappropriate and should be refused. Entertainment in poor taste or that adversely reflects on the morals or judgment of the individuals attending the event is considered inappropriate and also should be refused. Individuals involved in the purchase of equipment, supplies, and services may not accept entertainment or meals from a vendor or potential vendor except if business is to be discussed. Finally, under no circumstances should entertainment be accepted which may affect or be construed to affect any future dealing with that person.

#### G ENERAL

#### S TANDARDS OF B USINESS C ONDUCT
Covered Persons are expected to conduct themselves at all times in a manner consistent with the highest professional standards. Each Covered Person accordingly must devote his or her attention and skills to the performance of his or her responsibilities and avoid activities that interfere with that responsibility or that are detrimental to GreenFi and its reputation.

#### C OMMUNICATIONS WITH C LIENTS
All communications with Clients, whether verbal or written, must convey information clearly and fairly. Covered Persons must comply with GreenFi's policies and procedures regarding Advertising and Performance Reporting. Exaggerated, unwarranted or misleading statements or claims are prohibited.

#### D ISCLOSURE OF C ONFIDENTIAL I NFORMATION
In the course of conducting business, Covered Persons may become privy to confidential information about GreenFi, its present and prospective Clients, and Reportable Fund agents. It is a violation of this Code and in some cases may be a violation of Federal law, for any Covered Person to disclose to anyone other than another Covered Person any confidential information obtained while in the course of conducting business on behalf of GreenFi. Disclosure to other Covered Persons should be made only when and to the extent necessary to further the legitimate business purposes of GreenFi. Covered Persons may not use any such information in connection with their personal investments or investments of others subject to their control.

#### C LIENT AND I NVESTOR I NFORMATION
Clients and investors in the parent of GreenFi have the right to expect GreenFi and its Covered Persons to treat information concerning their business dealings in the strictest confidence. Accordingly, no one may divulge investor confidences except in accordance with GreenFi's privacy policy and unless the party to whom a disclosure is made is legitimately entitled to the information (*i.e.*, needs to know the information in furtherance of the investor's business) or the investor gives prior consent to the disclosure. Any such prior consent should be documented in advance of disclosure.

#### C OMPANY I NFORMATION
Confidential information about GreenFi, its parent or other affiliated companies, that is obtained by a Covered Person, including its Clients, products, processes, financial condition, plans, patents, or licenses may not be disclosed to persons outside of the organization, except with the approval of senior management and to further the legitimate business purposes of GreenFi.

Discretion should always be used when handling confidential Client information or company information, and such information should never be disseminated to an unauthorized person. Covered Persons are reminded that when it is necessary to carry sensitive information off GreenFi's premises, they should take appropriate care for its security. Specifically, Covered Persons should avoid casually displaying documents or engaging in confidential business conversations in public places, including, but not limited to, elevators, hallways, restrooms, airports, and in public transportation. Covered Persons who take documents or computer files off the premises to work at home should return all such materials to GreenFi upon completion of the particular at home project. Any questions about the confidential nature of information or whether confidential information may be disclosed should immediately be referred to the CCO.

#### C ORPORATE A SSETS
All information, products and services connected to or generated by GreenFi as a business are considered corporate assets to which GreenFi has ownership rights. Corporate property utilized or developed by Covered Persons during their employment, including, but not limited to, files, analysis, reference materials, reports, written or e-mail correspondence, trade secrets, Client lists, strategies, computer hardware and software, data processing systems, computer programs and databases, remains exclusively GreenFi's property both during employment and after the Covered Person leaves GreenFi. Accordingly, all Covered Persons are expected to protect GreenFi's ownership or property including all information, products, and services and to return all information to GreenFi at the termination of employment.

Further, Covered Persons are prohibited from misusing GreenFi's corporate assets (including use of assets for a non-business purpose, theft, inflation of expenses, etc.) and from misusing or removing those assets from the premises upon leaving GreenFi. Before beginning employment with GreenFi, each Covered Person should give his or her manager a copy or any non-competition, non-disclosure or non-pirating agreement by which the Covered Person is bound at the time of hiring. Any questions about this requirement should be raised with senior management.

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#### M ONEY L AUNDERING
In connection with GreenFi's Anti-Money Laundering Policies and Procedures, every Covered Person bears responsibility for recognizing suspicious transaction or investor activity that may constitute money laundering (including the structuring of deposits) and that may involve proceeds from unlawful activities such as drug trafficking or racketeering. In particular, Covered Persons should be aware that even the simple receipt of funds, including through wire transfers, which are derived from illegal activities can subject them to prosecution for money laundering. Any suspicious deposit or customer activity which causes a Covered Person concern about the source of an investor's funds should be promptly reported to the CCO.

#### B RIBERY
Under federal law, it is illegal for GreenFi or any Covered Person to pay, offer to pay, or authorize a payment of any money or other thing of value to:

<br> ● An official of a local, state, federal or foreign government or an agency of a local, state, federal or foreign government

<br> ● A political party or official thereof, or a candidate for political office

<br> ● Any other person the payor knows or has reason to know will pay or give the money or value to those listed above <br>

● Where the purpose is to influence the recipient to take or refrain from taking any official action or to induce the recipient to use his or her influence to affect governmental action to obtain, retain, or direct business for GreenFi, offering or making any such remuneration or consideration to a domestic or foreign government official, political party or candidate for political office is strictly prohibited. All Covered Persons must immediately report all invitations to accept a bribe or any proposal or suggestion of a similar illegal nature to the CCO.

#### P OLITICAL C ONTRIBUTIONS A ND A FFILIATIONS P OLICY
Elected officials who allow political contributions to play a role in the management of assets and who use the assets to reward contributors violate the public trust. Moreover, they undermine the fairness of the process by which public contracts are awarded. Similarly, investment advisors that seek to influence government officials' awards of advisory contracts by making or soliciting political contributions to those officials compromise their fiduciary duties to the pension plans they advise and defraud prospective clients. These practices, known as "pay-to-play," distort the process by which advisors are selected. Rule 206(4)-5 is a necessary and appropriate measure to prevent fraudulent acts and practices in the market for the provision of investment advisory services to government entities by prohibiting investment advisors from engaging in pay-to-play practices. The rule provides specific prohibitions to help ensure that advisor selection is based on the merits, not on the amount of money given to a particular candidate for office, while respecting the rights of industry participants to participate in the political process.

#### P OLICY
It is unlawful for the Advisor or its Covered Persons to contribute, coordinate, or solicit political contributions to an official of a government entity that the Firm is seeking to provide or providing advisory services. This prohibition extends to contributions to PACs and political parties for state and local jurisdictions.

Violating this policy will result in the Advisor being prohibited, by the SEC, from providing investment advisory services to a government entity for two years after the contribution.

Notwithstanding this policy, it is never permitted for any employee to make, direct, or solicit any other person to make any political contribution or provide anything else of value for the purpose of influencing or inducing the obtaining or retaining of investment advisory business.

#### C ONTRIBUTION L IMITATIONS
Access Persons are permitted to contribute up to $150 to candidates for whom they are not eligible to vote and $350 to candidates for whom they are eligible to vote. While pre-clearance is not required for contributions above the de minimis allowances, any contribution exceeding such amounts may disqualify GreenFi from collecting advisory fees from any government entity to which it provides investment advice for two years. Access Persons should be aware of this disqualification when making political contributions above the de minimis amounts.

**Procedure:** Complying with the SEC Pay-to-Play rule is critical to the success of the Advisor. Failure to comply with the Advisor's pay-to-play policy will have ramifications up to and including termination.

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The Advisor's Code of Ethics addresses conflicts of interest and that the appearance of a conflict can be as damaging to the Firm as an actual conflict. The same applies with pay-to-play.

Because GreenFi's core business lines do not involve the solicitation of covered government entities, pre-clearance of political contributions is not required.  **<u>However, Covered Persons must report all political</u> <u>contributions either cash, in-kind, or otherwise, made by a Covered Person, their spouse, or other members of</u> <u>the Covered Person's household via the quarterly personal securities transaction report disseminated</u> <u>quarterly.</u>**

It is important to note that contributions made by family members are also covered by the rule and  **<u>must be</u> <u>reported quarterly.</u>** Remember, a Covered Person cannot do through others what they cannot do directly. If a Covered Person's spouse or other member of their household writes a check out of a joint checking account, it is as if the Covered Person wrote the check. The Compliance Team may conduct internet searches in order to verify that the Firm's policy is being followed and that it remains in compliance with the SEC rule.

Definitions:

A "government official" is one who is directly or indirectly responsible for, or can influence the outcome of, the hiring of an advisor by a government entity or has the authority to appoint an advisor. Keep in mind that it is the scope of the government official's authority, not whether or not he or she uses it.

A "government entity" means any state or local government; any agency, authority, or instrumentality of a state or local government, any pool of assets sponsored by a state or local government, and any participant-directed government plans such as 529 plans.

A "contribution" includes any gift, subscription, loan, advance, deposit of monies or anything of value, including transition or inaugural expenses. In-kind contributions include payment for services or the use of the firm's or individual's resources to benefit a campaign or committee.

"Coordinating contributions" means bundling, pooling, delivering, or otherwise facilitating the contributions made by other persons to a government official of a government entity.

#### New employees
Because the SEC rule has a two-year "look back" provision, a political contribution made by an employee prior to his or her association with the firm could be a disqualifying factor that will impact the ability of the firm to provide advisory services for a fee to a government entity. Therefore, the due diligence regarding a new hire, lift-out, or merger must include the disclosure of all political contributions made by the new hire for the last two years. Any offer letter must include the firm's prohibitions against political contributions.

**Record Keeping per the SEC rule**:

<br> ● Names, titles, business and residence addresses of all employees

<br> ● List of government entities that the firm has or is providing advisory services. Entities stay on list for five years after the account has been terminated

● &nbsp;&nbsp;&nbsp;&nbsp;List of direct and indirect contributions. In chronological order, name and title of contributor, name and title of the recipient, amount and date of contribution and whether or not the contribution was returned

<br> ● Records of testing and validation of the procedure

**Responsibility and Verification:** The CCO is responsible for the implementation and oversight of this policy.

#### R ESTRICTIONS ON P ERSONAL T RADING A CTIVITY

#### G ENERAL P OLICY
No Access Person shall, in connection with the direct or indirect purchase or sale of a Security "held or to be acquired":

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Employ any device, scheme or artifice to defraud

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Make any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements, in light of the circumstances under which they are made, not misleading

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Engage in any act, practice or course of business that operates or would operate as fraud or deceit

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Engage in any manipulative practice

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#### P ROHIBITION A GAINST I NSIDER T RADING
As further detailed within GreenFi's Inside Information & Trading Policies and Procedures, Covered Persons and the members of their Family/Household are prohibited from engaging in, or helping others engage in, insider trading. Generally, the "insider trading" doctrine under U.S. federal securities laws prohibits any person (including investment advisors) from knowingly or recklessly breaching a duty owed by that person by:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Trading while in possession of material, nonpublic information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Communicating ("tipping") such information to others

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Recommending the purchase or sale of securities on the basis of such information

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;● Providing substantial assistance to someone who is engaged in any of the above activities

This means that Covered Persons and members of their Family/Household may not trade with respect to a particular security or issuer at a time when that person knows or should know that he or she is in possession of material nonpublic information about the issuer or security. Information is considered "material" if there is a substantial likelihood that a reasonable investor would consider it important in making his or her investment decisions, or if it could reasonably be expected to affect the price of a company's securities. Material information can also relate to events or circumstances affecting the market for a company's securities such as information about an expected government ruling or regulation that can affect the business of a company in which the Fund may invest. Information is considered nonpublic until such time as it has been disseminated in a manner making it available to investors generally (*e.g.*, through national business and financial news wire services). Please refer to GreenFi Inside Information & Trading Policies and Procedures for a full description of permissible and prohibited activities.

#### I NVESTMENT P ERSONNEL P RE - CLEARANCE OF I NVESTMENTS IN IPO S OR L IMITED O FFERINGS
Access Persons who also meet the definition of Investment Personnel may not directly or indirectly acquire Beneficial Ownership in any Securities in an IPO or Limited Offering without obtaining, in advance of the transaction, clearance from GreenFi's CCO. In order to obtain pre-clearance, a person meeting the definition of Investment Personnel must complete and submit to the CCO a Personal Trade Request Form (a "PTR") a form of which is included as **Appendix A-3**. The CCO must review each request for approval and record the decision regarding the request. The general standards for granting or denying pre-clearance are whether the securities are under active or potential consideration for Client accounts, and whether any conflict of interest exists amongst the Investment Personnel, GreenFi or its Clients. The CCO retains authority to grant pre-clearance in exceptional circumstances for good cause. If pre-clearance is obtained, the approval is valid for the day on which it is granted and the following three (3) business days. The CCO may revoke a pre-clearance any time after it is granted and before the transaction is executed. Generally, Access Persons of GreenFi do not have access to any real-time trade information regarding the Fund, as it is sub-advised by an unaffiliated third party.

#### R ESTRICTIONS ON P ERSONAL S ECURITIES T RANSACTIONS BY A CCESS P ERSONS
Each Access Person shall direct his or her broker to supply to the CCO, on a timely basis, duplicate copies of

confirmations of all securities transactions, other than for exempt securities, in which the person has, or by reason of such transaction acquires, any direct or indirect Beneficial Ownership and copies of periodic statements for all securities accounts.

#### P RE - CLEARANCE
Access Persons may purchase and sell securities without obtaining pre-clearance except in limited circumstances as described below. The general standards for granting or denying pre-clearance are discussed below, although the CCO retains authority to grant pre-clearance in exceptional circumstances for good cause.

#### When and how pre-clearance must be obtained
An Access Person must obtain the prior written approval of the Chief Compliance Officer before engaging in transactions in his or her Personal Account in certain reportable securities (as outlined below). The following transactions are subject to this pre-clearance requirement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **●**&nbsp;&nbsp;&nbsp;&nbsp; Direct or indirect purchase of Beneficial Ownership in a security in an initial public offering

**●** Direct or indirect purchase of Beneficial Ownership in a security in a limited offering exempt from registration under the Securities Act of 1933, which includes but is not limited to, U.S. and offshore hedge funds, private equity funds and venture capital funds options or shares in connection with service on a board or directors, options, commodities, futures contracts or other securities not publicly traded, transactions involving real estate for investment purposes jointly in partnership with another person, or investments in any other private business; and

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Even if approval is obtained, Access Persons must not buy or sell, or recommend that others buy or sell, securities of a company if the Access Person has material non-public information about the company in question.

As a matter of best practice, any requests for pre-clearance made by the Chief Compliance Officer should be reviewed and either approved or denied by a member of GreenFi's staff.

Pre-clearance is not required to be submitted with respect to any transactions effected pursuant to any Personal Account over which the Access Person has (or had) no direct or indirect influence or control.

#### When pre-clearance will be denied
The CCO retains the right to deny pre-clearance for any reason whatsoever, without disclosure of the basis for the denial to the Access Person.

#### R EPORTING R EQUIREMENTS & P ROCEDURES
In order to provide GreenFi with information to enable it to determine with reasonable assurance whether the provisions of this Code are being observed by its Access Persons, the following reporting requirements regarding personal securities transactions apply.

#### I NITIAL AND A NNUAL H OLDINGS R EPORTS
Within ten days after a person becomes an Access Person, and annually thereafter, such person shall submit to the CCO a completed Initial/Annual Holdings Report substantially in a form similar to **Appendix A-4**. Each holdings report must contain, at a minimum, (a) the title and type of security, and as applicable, the exchange ticker symbol or CUSIP number, number of shares and principal amount of each security (other than an exempt security) in which the person has any direct or indirect beneficial ownership; (b) the name of any broker, dealer or bank with whom the person maintains an account in which any securities other than exempt securities are held for the person's direct or indirect benefit; and (c) the date the person submits the report. The Initial Holdings Report must be current as of a date no more than 45 days prior to the date the person became an

Access Person, and the Annual Holdings Report shall be submitted no later than July 1 of every year and must be current as of a date no more than 45 days prior to the date the report is submitted.

#### Q UARTERLY T RANSACTION R EPORT
Each Access Person shall submit reports substantially in the form attached hereto as **Appendix A-5** to the CCO, showing all transactions in securities (other than exempt securities) in which the person has, or by reason of such transaction acquires, any direct or indirect beneficial ownership, as well as all accounts established with brokers, dealers or banks during the quarter in which any securities, other than exempt securities, were held for the direct or indirect beneficial interest of the person. Such reports shall be filed no later than 30 days after the end of each calendar quarter. An Access Person need not detail each transaction on a quarterly transaction report under this paragraph if all of the information required by this paragraph is contained in the brokerage confirmations or account statements required to be submitted under this Code, provided the person so designates on the form. The Report must include the date on which such report was submitted to the CCO.

#### Administration of the Code
The CCO's Duties and Responsibilities are contained within the Code of Ethics Policies & Procedures section of GreenFi's Compliance Manual.

#### Miscellaneous
*Confidentiality*

GreenFi will endeavor to maintain the confidentiality of all PTRs and any other information filed pursuant to this Code. Such reports and related information, however, may be produced to the SEC and other regulatory agencies.

*The "should have known" standard*

For purposes of this Code, the "should have known" standard does not:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ●&nbsp;&nbsp;&nbsp;&nbsp; Imply a duty of inquiry

<br> ● Presume that the individual should have deduced or extrapolated from discussions or memoranda dealing with a Client's investment strategies

<br> ● Impute knowledge from the individual's awareness of a Fund's portfolio holdings, market considerations, benchmark index, or investment policies, objectives and restrictions

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### A PPENDIX A-1.

#### D EFINITIONS
The definitions and terms used in this Code are intended to mean the same as they do under the Advisors Act and the other federal securities laws. If a definition hereunder conflicts with the definition in the Advisors Act or other federal securities laws, or if a term used in this Code is not defined, the definitions and meanings in the Advisors Act or other federal securities laws, as applicable, should be followed.

**<u>Access Person</u>** means: (i) every member of senior management of GreenFi, (ii) every Covered Person of GreenFi who, in connection with his or her regular functions or duties, makes, participates in or obtains information regarding the purchase or sale of a Security for any Client, or has access to nonpublic information about the portfolio holdings of any Client, or whose functions relate to the making of any recommendations with respect to purchases and sales, and (iii) every other person (whether or not an Covered Person of GreenFi, such as consultants) who is subject to GreenFi's supervision and control who has access to nonpublic information regarding any purchase or sale of securities of any Client, or has access to nonpublic information about the portfolio holdings of any Client. Temporary Access Persons as defined below are not considered Access Persons.

**<u>Automatic Investment Plan</u>** means a program in which regular periodic purchases (or withdrawals) are made automatically in (or from) investment accounts in accordance with a predetermined schedule and allocation. An Automatic Investment Plan includes a dividend reinvestment plan. However, any transaction that overrides the pre-set schedule or allocations of the automatic investment plan is not considered to be under the Automatic

Investment Plan.

**<u>Beneficial Ownership or Beneficially Owns</u>** means the same as it does under Section 16 of the Securities Exchange Act of 1934 and Rule 16a-1(a)(2) thereunder. Specifically, a person is the "beneficial owner" of any securities in which he or she has a direct or indirect pecuniary (monetary) interest. Beneficial Ownership includes, but is not limited to securities or accounts held in the name or for the benefit of the following:

<br> ● A member of an Access Person's immediate family (spouse, domestic partner, child or parents) who lives in an Access Person's household (including children who are temporarily living outside of the household for school, military service or other similar situation)

<br> ● A relative of the person who lives in an Access Person's household and over whose purchases, sales, or other trading activities an Access Person directly or indirectly exercises influence

<br> ● A relative whose financial affairs an Access Person "controls", whether by contract, arrangement, understanding or by convention (such as a relative he or she traditionally advises with regard to investment choices, invests for or otherwise assists financially)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ●&nbsp;&nbsp;&nbsp;&nbsp; An investment account over which an Access Person has investment control or discretion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ●&nbsp;&nbsp;&nbsp;&nbsp; A trust or other arrangement that names an Access Person as a beneficiary

● A non-public entity (partnership, corporation or otherwise) of which an Access Person is a director, officer, partner or Covered Person, or in which he owns 10% or more of any class of voting securities, a "controlling" interest as generally defined by securities laws, or over which he exercises effective control.

**<u>Control</u>** means the power to exercise a controlling influence over the management or policies of GreenFi. Any person who owns beneficially, either directly or through one or more controlled companies, more than 25 per of the voting securities of GreenFi shall be presumed to control GreenFi. A natural person shall be presumed not to be a controlled person within the meaning of this title. Any such presumption may be rebutted by evidence, but except as hereinafter provided, shall continue until a determination to the contrary made by the SEC by order either on its own motion or on application by an interested person.

**<u>Covered Person</u>** includes all employees and senior management of GreenFi or other persons as determined by the CCO.

**<u>Exempt Security</u>** means: (i) direct obligations of the U.S. Government (or any other "government security" as that term is defined in the 1940 Act), bankers' acceptances, bank certificates of deposit, commercial paper and High-Quality Short-Term Debt Instruments, including repurchase agreements, and shares of registered open-end investment companies, other than Reportable Funds, (ii) securities purchased or sold in any account over which the Access Person has no direct or indirect influence or control, (iii) securities purchased or sold in a transaction that is non-volitional on the part of the Access Person, including mergers, recapitalizations or similar transactions, and (iv) securities acquired as a part of an Automatic Investment Plan.

**<u>Family/Household</u>** means a member of such person's immediate family (spouse, domestic partner, child or parents) who lives in the person's household (including children who are temporarily living outside of the household for school, military service or other similar situation), and a relative of the person who lives in such person's household.

**<u>High Quality Short-Term Debt Instrument</u>** means any instrument that has a maturity at issuance of less than 366 days and that is rated in one of the two highest rating categories by a nationally recognized statistical rating organization (*e.g.*, Moody's Investors Service).

**<u>IPO</u>** (*i.e.*, initial public offering) means an offering of securities registered under the Securities Act of 1933 the issuer of which, immediately before the registration, was not subject to the reporting requirements of Sections 13 or 15(d) of the Securities Exchange Act of 1934.

**<u>Investment Personnel</u>** means (i) any Covered Person of GreenFi (or of any company in a control relationship to GreenFi) who, in connection with his or her regular functions or duties, makes or participates in making recommendations regarding the purchase or sale of Securities for a Client, (ii) any natural person who controls GreenFi and who obtains information concerning recommendations made regarding the purchase or sale of securities by a Client.

**<u>Limited Offering</u>** means an offering that is exempt from registration under the Securities Act of 1933 pursuant to Section 4(2), Section 4(6), Rule 504, Rule 505 or Rule 506 (*e.g.*, private placements).

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**<u>Purchase or Sale of a Security</u>** includes, among other things, the writing of an option to purchase or sell a security. The purchase or sale of a security in an account in which a person is deemed to have a Beneficial Ownership or a Beneficial Interest is deemed to be a purchase or sale of a Security by such a person.

**<u>Reportable Fund</u>** means any investment companies other than money market funds that are registered under the Investment Company Act for which GreenFi serves as an investment advisor or whose investment advisor or principal underwriter controls GreenFi, is controlled by GreenFi, or is under common control with GreenFi. A Reportable Fund includes registered investment companies that are sub-advised by GreenFi. Any reportable funds are defined in **Appendix A-2.**

**<u>Security or Securities</u>** means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, pre-organization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security", or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing.

**<u>Temporary Access Person</u>** means any person not employed on a full-time basis by GreenFi performing services for a period of less than 30 business days in a calendar year.