# EDGAR Filing Document

**Accession Number:** 0001518042
**File Stem:** 0001580642-23-001089
**Filing Date:** 2023-2
**Character Count:** 16526
**Document Hash:** d68b8eb62dcf618999fc107df78fa4aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-001089.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001580642-23-001089

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**EFFECTIVENESS DATE**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NORTHERN LIGHTS FUND TRUST II
- **CENTRAL INDEX KEY:** 0001518042
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-174926
- **FILM NUMBER:** 23682921

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022

## Series and Classes Contracts Data

### LifeGoal Conservative Wealth Builder ETF (Series ID: S000072348)

---

|  |  |  |
|:---|:---|:---|
| Class Name                               | Ticker Symbol | Class ID   |
| LifeGoal Conservative Wealth Builder ETF | SAVN          | C000228499 |

---

### LifeGoal Home Down Payment Investment ETF (Series ID: S000072349)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                | Ticker Symbol | Class ID   |
| LifeGoal Home Down Payment Investment ETF | HOM           | C000228500 |

---

### LifeGoal Wealth Builder ETF (Series ID: S000072351)

---

|  |  |  |
|:---|:---|:---|
| Class Name                  | Ticker Symbol | Class ID   |
| LifeGoal Wealth Builder ETF | WLTH          | C000228502 |

---

## Series and Classes Contracts Data

### LifeGoal Conservative Wealth Builder ETF (Series ID: S000072348)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000228499 | LifeGoal Conservative Wealth Builder ETF | SAVN            |

### LifeGoal Home Down Payment Investment ETF (Series ID: S000072349)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000228500 | LifeGoal Home Down Payment Investment ETF | HOM             |

### LifeGoal Wealth Builder ETF (Series ID: S000072351)

| Class ID   | Class Name                  | Ticker Symbol   |
|:---|:---|:---|
| C000228502 | LifeGoal Wealth Builder ETF | WLTH            |

?xml version="1.0" encoding="utf-8"?

![](image_001.jpg)

**LifeGoal Home Down Payment Investment ETF** 

**(Symbol: HOM)**

**LifeGoal Conservative Wealth Builder ETF** 

**(Symbol: SAVN)** 

**LifeGoal Wealth Builder ETF**

**(Symbol: WLTH)** 

**Exchange: NYSE Arca, Inc.**

**(each, a series of Northern Lights Fund Trust II)**

**Supplement dated February 28, 2023**

**to the Fund's Prospectus and Statement of Additional Information ("SAI")**

**dated December 29, 2022**

***_________________________________________________________________________________***

**Expense Limitation Agreement**

At a meeting of the Board held on February 24, 2023, the Board approved a request by LifeGoal Investments LLC (the "Adviser"), the adviser to each of the Funds, to lower the expense cap for each of the Funds through December 31, 2023.

Accordingly, effective immediately, pursuant to an operating expense limitation agreement between the Adviser and the Trust on behalf of each of the Funds, the Adviser has agreed to reduce its management fees and/or pay expenses of the Funds to ensure that the total amount of Fund operating expenses (excluding any front-end or contingent deferred sales loads, brokerage fees and commissions, acquired fund fees and expenses, borrowing costs (such as interest and dividend expense on securities sold short), taxes and extraordinary or non-recurring expenses, including, but not limited to, litigation) do not exceed the following amounts at least until December 31, 2023:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense Limitation** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Down Payment Investment Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.194% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conservative Wealth Builder Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.204% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wealth Builder Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.154% |

---

Any disclosures to the contrary should be disregarded.

Additionally, the following specific disclosure changes are made:

&nbsp;&nbsp;&nbsp;&nbsp;*a.* **All Funds -** "**Summary Section – Fees and Expenses of the Fund"** and **"Summary Section – Example** "

Each of these sections are deleted in their entirety and replaced with the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***i.***  ***LifeGoal Home Down Payment Investment ETF*** 

**Fees and Expenses of the Fund.** 

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Home Down Payment Investment Fund. You may pay other fees, such as brokage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses**<br> *(expenses that you pay each year as a percentage of the value of your investment)* |  |
| Management Fees | &nbsp;&nbsp;0.44% |
| Other Expenses<sup>(1)</sup> | &nbsp;&nbsp;15.30% |
| Acquired Fund Fees and Expenses<sup>(2)</sup> | 0.15% |
| Total Annual Fund Operating Expenses | &nbsp;&nbsp;15.89% |
| Fee Waiver and Expense Reimbursements<sup>(3)</sup> | &nbsp;&nbsp;(15.55%) |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses after <br> Fee Waiver and Expense Reimbursements | &nbsp;&nbsp;0.34% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated for the
current fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) This number represents
the combined total fees and operating expenses of the Acquired Funds owned by the Home Down Payment Investment Fund and is not a direct
expense incurred by the Home Down Payment Investment Fund or deducted from the Home Down Payment Investment Fund assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant to an operating
expense limitation agreement between LifeGoal Investments LLC (the "Adviser") and the Trust, on behalf of the Home Down Payment
Investment Fund, the Adviser has agreed to waive its fees and/or absorb expenses of the Home Down Payment Investment Fund to ensure that
Total Annual Fund Operating Expenses for the Home Down Payment Investment Fund (excluding any front-end or contingent deferred loads,
brokerage fees and commissions, acquired fund fees and expenses, borrowing costs (such as interest and dividend expense on securities
sold short) and extraordinary expenses do not exceed 0.194% of the Home Down Payment Investment Fund's average net assets through December 31, 2023 . This operating expense limitation agreement can be terminated only by, or with the consent of, the Board of Trustees
of the Trust. The Adviser is permitted to receive reimbursement from the Home Down Payment Investment Fund for fees it waived and Fund
expenses it paid, subject to the limitation that (1) the reimbursement for fees and expenses will be made only if payable within three
years from the date the fees and expenses were initially waived or reimbursed and (2) the reimbursement may not be made if it would cause
the expense limitation in effect at the time of the waiver or currently in effect, whichever is lower, to be exceeded.

**Example.** 

This Example is intended to help you compare the cost of investing in the Home Down Payment Investment Fund with the cost of investing in other funds.

The Example assumes that you invest $10,000 in the Home Down Payment Investment Fund for the time periods indicated and then sell 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 Home Down Payment Investment Fund's operating expenses remain the same. The fee waiver/expense reimbursement arrangement discussed in the table above is reflected only through December 31, 2023. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Three Years** | &nbsp;&nbsp;**Five Years** | &nbsp;&nbsp;**Ten Years** |
| &nbsp;&nbsp;$35 | &nbsp;&nbsp;$3009 | &nbsp;&nbsp;$5370 | &nbsp;&nbsp;$9359 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*ii.*  ***LifeGoal Conservative Wealth Builder ETF*** 

**Fees and Expenses of the Fund.** 

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Conservative Wealth Builder Fund. You may pay other fees, such as brokage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses**<br> *(expenses that you pay each year as a percentage of the value of your investment)* |  |
| Management Fees | &nbsp;&nbsp;0.39% |
| Other Expenses<sup>(1)</sup> | &nbsp;&nbsp;12.90% |
| Acquired Fund Fees and Expenses<sup>(2)</sup> | 0.14% |
| Total Annual Fund Operating Expenses | &nbsp;&nbsp;13.43% |
| Fee Waiver and Expense Reimbursements<sup>(3)</sup> | &nbsp;&nbsp;(13.09%) |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses after <br> Fee Waiver and Expense Reimbursements | &nbsp;&nbsp;0.34% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated for the
current fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;(2) This number represents
the combined total fees and operating expenses of the Acquired Funds owned by the General Conservative Investment Fund and is not a direct
expense incurred by the General Conservative Investment Fund or deducted from the General Conservative Investment Fund assets.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant to an operating
expense limitation agreement between LifeGoal Investments LLC (the "Adviser") and the Trust, on behalf of the General Conservative
Investment Fund, the Adviser has agreed to waive its fees and/or absorb expenses of the General Conservative Investment Fund to ensure
that Total Annual Fund Operating Expenses for the General Conservative Investment Fund (excluding any front-end or contingent deferred
loads, brokerage fees and commissions, acquired fund fees and expenses, borrowing costs (such as interest and dividend expense on securities
sold short) and extraordinary expenses do not exceed 0.204% of the General Conservative Investment Fund's average net assets through December 31, 2023 . This operating expense limitation agreement can be terminated only by, or with the consent of, the Board of Trustees
of the Trust. The Adviser is permitted to receive reimbursement from the General Conservative Investment Fund for fees it waived and Fund
expenses it paid, subject to the limitation that (1) the reimbursement for fees and expenses will be made only if payable within three
years from the date the fees and expenses were initially waived or reimbursed and (2) the reimbursement may not be made if it would cause
the expense limitation in effect at the time of the waiver or currently in effect, whichever is lower, to be exceeded.

**Example.** 

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

The Example assumes that you invest $10,000 in the Conservative Wealth Builder Fund for the time periods indicated and then sell 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 Conservative Wealth Builder Fund's operating expenses remain the same. The fee waiver/expense reimbursement arrangement discussed in the table above is reflected only through December 31, 2023. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Three Years** | &nbsp;&nbsp;**Five Years** | &nbsp;&nbsp;**Ten Years** |
| &nbsp;&nbsp;$35 | &nbsp;&nbsp;$2614 | &nbsp;&nbsp;$4777 | &nbsp;&nbsp;$8776 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***iii.***  ***LifeGoal Wealth Builder ETF*** 

**Fees and Expenses of the Fund.** 

This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Wealth Builder Fund. You may pay other fees, such as brokage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below, when buying or selling shares of the Wealth Builder Fund.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Annual Fund Operating Expenses**<br> *(expenses that you pay each year as a percentage of the value of your investment)* |  |
| Management Fees | &nbsp;&nbsp;0.49% |
| Other Expenses<sup>(1)</sup> | &nbsp;&nbsp;9.87% |
| Acquired Fund Fees and Expenses<sup>(2)</sup> | 0.19% |
| Total Annual Fund Operating Expenses | &nbsp;&nbsp;10.55% |
| Fee Waiver and Expense Reimbursements<sup>(3)</sup> | &nbsp;&nbsp;(10.20%) |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses after <br> Fee Waiver and Expense Reimbursements | &nbsp;&nbsp;0.34% |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) Estimated for the
current fiscal year.

&nbsp;&nbsp;&nbsp;&nbsp;(2) This number represents
the combined total fees and operating expenses of the Acquired Funds owned by the Wealth Builder Fund and is not a direct expense incurred
by the Wealth Builder Fund or deducted from the Wealth Builder Fund assets.

&nbsp;&nbsp;&nbsp;&nbsp;(3) Pursuant to an operating
expense limitation agreement between the Adviser and the Trust, on behalf of the Wealth Builder Fund, the Adviser has agreed to waive
its fees and/or absorb expenses of the Wealth Builder Fund to ensure that Total Annual Fund Operating Expenses for the Wealth Builder
Fund (excluding any front-end or contingent deferred loads, brokerage fees and commissions, acquired fund fees and expenses, borrowing
costs (such as interest and dividend expense on securities sold short) and extraordinary expenses do not exceed 0.154% of the Wealth Builder
Fund's average net assets through December 31, 2023 . This operating expense limitation agreement can be terminated only by, or with
the consent of, the Board of Trustees of the Trust. The Adviser is permitted to receive reimbursement from the Wealth Builder Fund for
fees it waived and Fund expenses it paid, subject to the limitation that (1) the reimbursement for fees and expenses will be made only
if payable within three years from the date the fees and expenses were initially waived or reimbursed and (2) the reimbursement may not
be made if it would cause the expense limitation in effect at the time of the waiver or currently in effect, whichever is lower, to be
exceeded.

**Example.** 

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

The Example assumes that you invest $10,000 in the Wealth Builder Fund for the time periods indicated and then sell 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 Wealth Builder Fund's operating expenses remain the same. The fee waiver/expense reimbursement arrangement discussed in the table

above is reflected only through December 31, 2023. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Three Years** | &nbsp;&nbsp;**Five Years** | &nbsp;&nbsp;**Ten Years** |
| &nbsp;&nbsp;$35 | &nbsp;&nbsp;$2123 | &nbsp;&nbsp;$3985 | &nbsp;&nbsp;$7808 |

---

***______________________________________________________________________***

*This supplement provides new and additional information beyond that contained in the Prospectus and Statement of Additional Information and should be read in conjunction with those documents. The Prospectus and Statement of Additional Information have been filed with the Securities and Exchange Commission and are incorporated herein by reference.*

**PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE**