# EDGAR Filing Document

**Accession Number:** 0001048702
**File Stem:** 0002071844-26-000024
**Filing Date:** 2026-1
**Character Count:** 174006
**Document Hash:** f4dfa600477fa46a9e3fdfbd1db1bcbc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071844-26-000024.hdr.sgml**: 20260102

**ACCESSION NUMBER**: 0002071844-26-000024

**CONFORMED SUBMISSION TYPE**: POS AMI

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260102

**DATE AS OF CHANGE**: 20260102

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONWIDE MUTUAL FUNDS
- **CENTRAL INDEX KEY:** 0001048702

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** POS AMI
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08495
- **FILM NUMBER:** 26503223

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 05-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215
- **BUSINESS PHONE:** 614-435-5749

**MAIL ADDRESS:**
- **STREET 1:** ONE NATIONWIDE PLAZA
- **STREET 2:** MAIL CODE 05-02-210
- **CITY:** COLUMBUS
- **STATE:** OH
- **ZIP:** 43215

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARTMORE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 20020125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19991015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONWIDE INVESTING FOUNDATION III
- **DATE OF NAME CHANGE:** 19971029

## Series and Classes Contracts Data

### Nationwide Bond Portfolio (Series ID: S000071835)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227359 | Class R6     |  |

### Nationwide U.S. 130/30 Equity Portfolio (Series ID: S000077872)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000238472 | Class R6     |  |

### Nationwide Fundamental All Cap Equity Portfolio (Series ID: S000081966)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000245125 | Class R6     |  |

### Nationwide International Equity Portfolio (Series ID: S000088985)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000255389 | Class R6     |  |

### Nationwide Large Cap Equity Portfolio (Series ID: S000095440)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000264163 | Class R6     |  |

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|:---|
| **AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JANUARY 2, 2026** |
| **1940 Act File No. 811-08495** |

| |
|:---|
| **SECURITIES AND EXCHANGE COMMISSION** |
| **Washington, D.C. 20549** |

| |
|:---|
| **FORM N-1A** |
| **REGISTRATION STATEMENT**<br> ***UNDER***<br> ***THE INVESTMENT COMPANY ACT OF 1940*** |
| **Amendment No. 317** |
| **(Check appropriate box or boxes)** |

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| |
|:---|
| **NATIONWIDE MUTUAL FUNDS** |
| **(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)** |

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| |
|:---|
| **ONE NATIONWIDE PLAZA** |
| **MAIL CODE 1-18-102** |
| **COLUMBUS, OHIO 43215** |
| **(ADDRESS OF PRINCIPAL EXECUTIVE OFFICE) (ZIP CODE)** |
| (614) 435-5787 |
| **Registrant's Telephone Number, including Area Code** |

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| | |
|:---|:---|
| **Send Copies of Communications to:** | **Send Copies of Communications to:** |
| **ALLAN J. OSTER, ESQ.** | **PRUFESH R. MODHERA, ESQ.** |
| **ONE NATIONWIDE PLAZA** | **STRADLEY RONON STEVENS & YOUNG, LLP** |
| **COLUMBUS, OHIO 43215** | **2000 K STREET, N.W., SUITE 700** |
| **(NAME AND ADDRESS OF AGENT FOR SERVICE)** | **WASHINGTON, DC 20006** |

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#### EXPLANATORY NOTE

This Amendment No. 317 (the "Amendment") to the Registration Statement of Nationwide Mutual Funds (the "Registrant") on Form N-1A is being filed under the Investment Company Act of 1940 (the "1940 Act"), as amended, to amend and supplement Amendment No. 312 to the Registrant's Registration Statement on Form N-1A, filed with the U.S. Securities and Exchange Commission (the "Commission") on February 27, 2025 under the 1940 Act (Accession No. 0001193125-25-039128) ("Amendment No. 312"), as pertaining to Parts B of the Nationwide Bond Portfolio, Nationwide U.S. 130/30 Equity Portfolio, Nationwide Fundamental All Cap Equity Portfolio and Nationwide International Equity Portfolio, each a series of the Registrant, and Amendment No. 315 to the Registrant's Registration Statement on Form N-1A, filed with the Commission on July 10, 2025 under the 1940 Act (Accession No. 00001193125-25-157578) ("Amendment No. 315"), as pertaining to Part B of the Nationwide Large Cap Equity Portfolio, also a series of the Registrant (together with Nationwide Bond Portfolio, Nationwide U.S. 130/30 Equity Portfolio, Nationwide Fundamental All Cap Equity Portfolio and Nationwide International Equity Portfolio, the "Funds").

Parts A and Parts B of the Funds, as filed in [Amendment No. 312](https://www.sec.gov/Archives/edgar/data/1048702/000119312525039128/d802943dposami.htm) and in [Amendment No. 315](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dposami.htm), as supplemented, are incorporated herein by reference.

The shares of beneficial interest ("Shares") of the series of the Registrant are not registered under the Securities Act of 1933, as amended (the "Securities Act"), because each series of the Registrant issues its shares only in private placement transactions that do not involve a public offering within the meaning of Section 4(a)(2) of the Securities Act.

Shares of the series of the Registrant may be purchased only by "accredited investors," as defined in Regulation D under the Securities Act. This Amendment is not offering to sell, or soliciting any offer to buy, any security to the public within the meaning of the Securities Act.

[The audited Financial Statement and the Report of Independent Registered Public Account Firm of the Funds for the fiscal year ended October 31, 2025, as filed with the Commission on December 23, 2025 (Accession No. 0001048702-25-000012) contained in the Annual Report of the Registrant, dated October 31, 2025, is incorporated herein by reference.](https://www.sec.gov/ix?doc=/Archives/edgar/data/1048702/000104870225000012/primary-document.htm)

This Registration Statement relates only to the Funds and does not incorporate by reference the currently effective Parts A or Parts B of the Registrant's other series.

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| |
|:---|
| **NATIONWIDE MUTUAL FUNDS** |
| Nationwide Bond Portfolio |
| Nationwide Fundamental All Cap Equity Portfolio |
| Nationwide U.S. 130/30 Equity Portfolio |

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#### Amendment dated January 2, 2026

#### to the Statement of Additional Information ("SAI") dated February 27, 2025

*Capitalized terms and certain other terms used in this amendment, unless otherwise defined in this amendment, have the meanings assigned to them in the SAI.*

#### Independent Trustees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective December 31, 2025, all references to, and information regarding, Barbara I. Jacobs and Douglas F. Kridler in the SAI are deleted in
 their entirety.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Effective immediately, the SAI is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following replaces the tables and accompanying footnotes under the heading "Independent Trustees" beginning on page 51 of the SAI:

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| | | |
|:---|:---|:---|
| **Tracy Bollin** | **Tracy Bollin** | **Tracy Bollin** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1970 | Trustee since July 2025 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)** From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | **Principal Occupation(s) During the Past Five Years (or Longer)** From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | **Principal Occupation(s) During the Past Five Years (or Longer)** From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> Board member of On With Life since September 2024. | **Other Directorships held During the Past Five Years**<sup>2</sup> Board member of On With Life since September 2024. | **Other Directorships held During the Past Five Years**<sup>2</sup> Board member of On With Life since September 2024. |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. |
| **Kristina Bradshaw** | **Kristina Bradshaw** | **Kristina Bradshaw** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1980 | Trustee since January 2023 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. | **Other Directorships held During the Past Five Years**<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. | **Other Directorships held During the Past Five Years**<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. |

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| | | |
|:---|:---|:---|
| **Lorn C. Davis** | **Lorn C. Davis** | **Lorn C. Davis** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1968 | Trustee since January 2021 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. | **Other Directorships held During the Past Five Years**<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. | **Other Directorships held During the Past Five Years**<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. |
| **Keith F. Karlawish** | **Keith F. Karlawish** | **Keith F. Karlawish** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1964 | Trustee since March 2012; Chairman since January 2021 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> None | **Other Directorships held During the Past Five Years**<sup>2</sup> None | **Other Directorships held During the Past Five Years**<sup>2</sup> None |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. |
| **Carol A. Kosel** | **Carol A. Kosel** | **Carol A. Kosel** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1963 | Trustee since March 2013 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> None | **Other Directorships held During the Past Five Years**<sup>2</sup> None | **Other Directorships held During the Past Five Years**<sup>2</sup> None |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. |

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| | | |
|:---|:---|:---|
| **Charlotte Tiedemann Petersen** | **Charlotte Tiedemann Petersen** | **Charlotte Tiedemann Petersen** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1960 | Trustee since January 2023 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. | **Other Directorships held During the Past Five Years**<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. | **Other Directorships held During the Past Five Years**<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. |
| **David E. Wezdenko** | **David E. Wezdenko** | **David E. Wezdenko** |
| **Year of Birth** | **Positions Held with Trust and Length of Time Served<sup>1</sup>** | **Number of Portfolios Overseen in the Nationwide Fund Complex** |
| 1963 | Trustee since January 2021 | 113 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. |
| **Other Directorships held During the Past Five Years**<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. | **Other Directorships held During the Past Five Years**<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. | **Other Directorships held During the Past Five Years**<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. |
| **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. | **Experience, Qualifications, Attributes, and Skills for Board Membership**<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. |

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<sup>1</sup> Length of time served includes time served with the Trust's predecessors. The tenure of each Trustee is subject to the Board's retirement policy, which states that a Trustee shall retire from the Boards of Trustees of the Trusts effective on December 31 of the calendar year during which he or she turns 75 years of age; provided this policy does not apply to a person who became a Trustee prior to September 11, 2019.

<sup>2</sup> Directorships held in: (1) any other investment companies registered under the 1940 Act, (2) any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or (3) any company subject to the requirements of Section 15(d) of the Exchange Act, which are required to be disclosed in this SAI. In addition, certain other directorships not meeting the aforementioned requirements may be included for certain Trustees such as board positions on non-profit organizations.

#### Officers of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective immediately, the SAI is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following replaces the table and accompanying footnotes under the heading "Officers of the Trust" beginning on page 53 of the SAI:

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| | |
|:---|:---|
| **Joseph N. Aniano** | **Joseph N. Aniano** |
| **Year of Birth** | **Positions Held with Funds and Length of Time Served** |
| 1978 | President, Chief Executive Officer and Principal Executive Officer since November 2025 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Aniano is President and Chief Executive Officer of Nationwide Investment Management Group and is a Senior Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as President of Nationwide Securities, LLC, and before that as Head of Investment Management Group Product Lifecycle Management. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Aniano is President and Chief Executive Officer of Nationwide Investment Management Group and is a Senior Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as President of Nationwide Securities, LLC, and before that as Head of Investment Management Group Product Lifecycle Management. |

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| | | |
|:---|:---|:---|
| **Lee T. Cummings** | **Lee T. Cummings** | **Lee T. Cummings** |
| **Year of Birth** | **Positions Held with Funds and Length of Time Served** | **Positions Held with Funds and Length of Time Served** |
| 1963 | Senior Vice President and Head of Fund Operations since December 2015 | Senior Vice President and Head of Fund Operations since December 2015 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. |
| **David Majewski** | **David Majewski** | **David Majewski** |
| **Year of Birth** | **Positions Held with Funds and Length of Time Served** | **Positions Held with Funds and Length of Time Served** |
| 1976 | Treasurer and Principal Financial Officer since September 2022 | Treasurer and Principal Financial Officer since September 2022 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. |
| **Nicholas T. Graham** | **Nicholas T. Graham** | **Nicholas T. Graham** |
| **Year of Birth** | **Positions Held with Funds and Length of Time Served** | **Positions Held with Funds and Length of Time Served** |
| 1982 | Vice President and Chief Compliance Officer since December 2025 | Vice President and Chief Compliance Officer since December 2025 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. |
| **Stephen R. Rimes** | **Stephen R. Rimes** | **Stephen R. Rimes** |
| **Year of Birth** | **Positions Held with Funds and Length of Time Served** | **Positions Held with Funds and Length of Time Served** |
| 1970 | Secretary, Senior Vice President and General Counsel since December 2019 | Secretary, Senior Vice President and General Counsel since December 2019 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. |
| **Christopher C. Graham** | **Christopher C. Graham** | **Christopher C. Graham** |
| **Year of Birth** | **Positions Held with Funds and Length of Time Served** | **Positions Held with Funds and Length of Time Served** |
| 1971 | Senior Vice President, Head of Investment Strategies, Chief Investment Officer and Portfolio Manager since September 2016 | Senior Vice President, Head of Investment Strategies, Chief Investment Officer and Portfolio Manager since September 2016 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> |
| **Benjamin Hoecherl** | **Benjamin Hoecherl** | **Benjamin Hoecherl** |
| **Year of Birth** | **Year of Birth** | **Positions Held with Funds and Length of Time Served** |
| 1976 | 1976 | Senior Vice President, Head of Business and Product Development since December 2023 |
| **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. | **Principal Occupation(s) During the Past Five Years (or Longer)**<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. |

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<sup>1</sup> These positions are held with an affiliated person or principal underwriter of the Funds.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The list of entities or people that are affiliates of both the Trust and Nationwide Fund Distributors LLC under the heading "Distributor" beginning on page 63 of the SAI is deleted in its entirety and replaced with the following:

Nationwide Fund Advisors

Nationwide Fund Management LLC

Nationwide Life Insurance Company

Nationwide Life and Annuity Insurance Company

Jefferson National Life Insurance Company

Jefferson National Life Insurance Company of New York

Nationwide Financial Services, Inc.

Nationwide Corporation

Nationwide Mutual Insurance Company

Christopher Graham

Nicholas T. Graham<br> Joseph N. Aniano

Lee T. Cummings

Stephen R. Rimes

David Majewski<br> Benjamin Hoecherl

#### PLEASE RETAIN THIS AMENDMENT FOR FUTURE REFERENCE

#### <br>

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**NATIONWIDE MUTUAL FUNDS <br> Nationwide International Equity Portfolio

#### Amendment dated January 2, 2026

#### to the Statement of Additional Information ("SAI") dated February 27, 2025

*Capitalized terms and certain other terms used in this amendment, unless otherwise defined in this amendment, have the meanings assigned to them in the SAI.*

#### Independent Trustees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective December 31, 2025, all references to, and information regarding, Barbara I. Jacobs and Douglas F. Kridler in the SAI are deleted in their entirety.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Effective immediately, the SAI is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following replaces the tables and accompanying footnotes under the heading "Independent Trustees" beginning on page 34 of the SAI:

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| | | |
|:---|:---|:---|
| Tracy Bollin | Tracy Bollin | Tracy Bollin |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1970 | Trustee since July 2025 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer) From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | Principal Occupation(s) During the Past Five Years (or Longer) From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | Principal Occupation(s) During the Past Five Years (or Longer) From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. |
| Other Directorships held During the Past Five Years<sup>2</sup> Board member of On With Life since September 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board member of On With Life since September 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board member of On With Life since September 2024. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. |
| Kristina Bradshaw | Kristina Bradshaw | Kristina Bradshaw |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1980 | Trustee since January 2023 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. |
| Other Directorships held During the Past Five Years<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. |

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| | | |
|:---|:---|:---|
| Lorn C. Davis | Lorn C. Davis | Lorn C. Davis |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1968 | Trustee since January 2021 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. |
| Other Directorships held During the Past Five Years<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. |
| Keith F. Karlawish | Keith F. Karlawish | Keith F. Karlawish |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1964 | Trustee since March 2012; Chairman since January 2021 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. |
| Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. |
| Carol A. Kosel | Carol A. Kosel | Carol A. Kosel |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1963 | Trustee since March 2013 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. |
| Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. |

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| | | |
|:---|:---|:---|
| Charlotte Tiedemann Petersen | Charlotte Tiedemann Petersen | Charlotte Tiedemann Petersen |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1960 | Trustee since January 2023 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. |
| Other Directorships held During the Past Five Years<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. | Other Directorships held During the Past Five Years<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. | Other Directorships held During the Past Five Years<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. |
| David E. Wezdenko | David E. Wezdenko | David E. Wezdenko |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1963 | Trustee since January 2021 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. |
| Other Directorships held During the Past Five Years<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. | Other Directorships held During the Past Five Years<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. | Other Directorships held During the Past Five Years<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. |

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<sup>1</sup> Length of time served includes time served with the Trust's predecessors. The tenure of each Trustee is subject to the Board's retirement policy, which states that a Trustee shall retire from the Boards of Trustees of the Trusts effective on December 31 of the calendar year during which he or she turns 75 years of age; provided this policy does not apply to a person who became a Trustee prior to September 11, 2019.

<sup>2</sup> Directorships held in: (1) any other investment companies registered under the 1940 Act, (2) any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or (3) any company subject to the requirements of Section 15(d) of the Exchange Act, which are required to be disclosed in this SAI. In addition, certain other directorships not meeting the aforementioned requirements may be included for certain Trustees such as board positions on non-profit organizations.

#### Officers of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective immediately, the SAI is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following replaces the table and accompanying footnotes under the heading "Officers of the Trust" beginning on page 37 of the SAI:

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| | |
|:---|:---|
| Joseph N. Aniano | Joseph N. Aniano |
| Year of Birth | Positions Held with Funds and Length of Time Served |
| 1978 | President, Chief Executive Officer and Principal Executive Officer since November 2025 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Aniano is President and Chief Executive Officer of Nationwide Investment Management Group and is a Senior Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as President of Nationwide Securities, LLC, and before that as Head of Investment Management Group Product Lifecycle Management. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Aniano is President and Chief Executive Officer of Nationwide Investment Management Group and is a Senior Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as President of Nationwide Securities, LLC, and before that as Head of Investment Management Group Product Lifecycle Management. |

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| | | |
|:---|:---|:---|
| Lee T. Cummings | Lee T. Cummings | Lee T. Cummings |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1963 | Senior Vice President and Head of Fund Operations since December 2015 | Senior Vice President and Head of Fund Operations since December 2015 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. |
| David Majewski | David Majewski | David Majewski |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1976 | Treasurer and Principal Financial Officer since September 2022 | Treasurer and Principal Financial Officer since September 2022 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. |
| Nicholas T. Graham | Nicholas T. Graham | Nicholas T. Graham |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1982 | Vice President and Chief Compliance Officer since December 2025 | Vice President and Chief Compliance Officer since December 2025 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. |
| Stephen R. Rimes | Stephen R. Rimes | Stephen R. Rimes |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1970 | Secretary, Senior Vice President and General Counsel since December 2019 | Secretary, Senior Vice President and General Counsel since December 2019 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. |
| Christopher C. Graham | Christopher C. Graham | Christopher C. Graham |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1971 | Senior Vice President, Head of Investment Strategies, Chief Investment Officer and Portfolio Manager since September 2016 | Senior Vice President, Head of Investment Strategies, Chief Investment Officer and Portfolio Manager since September 2016 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> |
| Benjamin Hoecherl | Benjamin Hoecherl | Benjamin Hoecherl |
| Year of Birth | Year of Birth | Positions Held with Funds and Length of Time Served |
| 1976 | 1976 | Senior Vice President, Head of Business and Product Development since December 2023 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. |

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<sup>1</sup> These positions are held with an affiliated person or principal underwriter of the Funds.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The list of entities or people that are affiliates of both the Trust and Nationwide Fund Distributors LLC under the heading "Distributor" beginning on page 44 of the SAI is deleted in its entirety and replaced with the following:

Nationwide Fund Advisors

Nationwide Fund Management LLC

Nationwide Life Insurance Company

Nationwide Life and Annuity Insurance Company

Jefferson National Life Insurance Company

Jefferson National Life Insurance Company of New York

Nationwide Financial Services, Inc.

Nationwide Corporation

Nationwide Mutual Insurance Company

Christopher Graham

Nicholas T. Graham<br> Joseph N. Aniano

Lee T. Cummings

Stephen R. Rimes

David Majewski<br> Benjamin Hoecherl

#### PLEASE RETAIN THIS AMENDMENT FOR FUTURE REFERENCE

#### <br>

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NATIONWIDE MUTUAL FUNDS <br> Nationwide Large Cap Equity Portfolio

#### Amendment dated January 2, 2026

#### to the Statement of Additional Information ("SAI") dated July 10, 2025

*Capitalized terms and certain other terms used in this amendment, unless otherwise defined in this amendment, have the meanings assigned to them in the SAI.*

#### Independent Trustees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective December 31, 2025, all references to, and information regarding, Barbara I. Jacobs and Douglas F. Kridler in the SAI are deleted in their entirety.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Effective immediately, the SAI is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following replaces the tables and accompanying footnotes under the heading "Independent Trustees" beginning on page 34 of the SAI:

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| | | |
|:---|:---|:---|
| Tracy Bollin | Tracy Bollin | Tracy Bollin |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1970 | Trustee since July 2025 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer) From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | Principal Occupation(s) During the Past Five Years (or Longer) From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. | Principal Occupation(s) During the Past Five Years (or Longer) From 2015 until 2021, Mr. Bollin served as Vice President and CFO of Principal Funds, Managing Director of Fund Operations for Principal Global Investors, and President of Principal Shareholder Services. |
| Other Directorships held During the Past Five Years<sup>2</sup> Board member of On With Life since September 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board member of On With Life since September 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board member of On With Life since September 2024. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Bollin has held multiple roles in the financial services industry, including positions in capital markets, finance, operations, and as a board member. |
| Kristina Bradshaw | Kristina Bradshaw | Kristina Bradshaw |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1980 | Trustee since January 2023 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Bradshaw was a Portfolio Manager on the Dividend Value team at Invesco from August 2006 to August 2020. Prior to that, she was an investment banker in the Global Energy & Utilities group at Morgan Stanley from June 2002 to July 2004. |
| Other Directorships held During the Past Five Years<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of Southern Smoke Foundation from August 2020 to 2023, Board Member of Houston Ballet from July 2011 to present and President from July 2022 to July 2024 and Chair since July 2024, and Board Member of Hermann Park Conservancy from July 2011 to present, serving as Board Chair from 2020 to 2024. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Bradshaw has significant board experience; significant portfolio management experience in the investment management industry and is a Chartered Financial Analyst. |

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| | | |
|:---|:---|:---|
| Lorn C. Davis | Lorn C. Davis | Lorn C. Davis |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1968 | Trustee since January 2021 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Davis has been a Managing Partner of College Hill Capital Partners, LLC (private equity) since June 2016. From September 1998 until May 2016, Mr. Davis originated and managed debt and equity investments for John Hancock Life Insurance Company (U.S.A.)/Hancock Capital Management, LLC, serving as a Managing Director from September 2003 through May 2016. |
| Other Directorships held During the Past Five Years<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. | Other Directorships held During the Past Five Years<sup>2</sup> Board Member of The Pine Street Inn from 2009 to present, Member of the Advisory Board (non-fiduciary) of Mearthane Products Corporation from 2021 to 2022, Trustee of The College of the Holy Cross since July 2022, and Member of Board of Managers of the College Circle Creamery Holdings since February 2023. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Davis has significant board experience; significant past service at a large asset management company and significant experience in the investment management industry. Mr. Davis is a Chartered Financial Analyst and earned a Certificate of Director Education from the National Association of Corporate Directors in 2008. |
| Keith F. Karlawish | Keith F. Karlawish | Keith F. Karlawish |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1964 | Trustee since March 2012; Chairman since January 2021 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Karlawish is a Partner, and Senior Wealth Advisor with Curi RMB Capital. Previously, he was Senior Director of Wealth Management with Curi Wealth Management which acquired Park Ridge Asset Management, LLC in August 2022. Prior to this time, Mr. Karlawish was a partner with Park Ridge Asset Management, LLC since December 2008 and also served as a portfolio manager. From May 2002 until October 2008, Mr. Karlawish was the President of BB&T Asset Management, Inc., and was President of the BB&T Mutual Funds and BB&T Variable Insurance Funds from February 2005 until October 2008. |
| Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Karlawish has significant board experience, including past service on the boards of BB&T Mutual Funds and BB&T Variable Insurance Funds; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. |
| Carol A. Kosel | Carol A. Kosel | Carol A. Kosel |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1963 | Trustee since March 2013 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Retired. Ms. Kosel was a consultant to the Evergreen Funds Board of Trustees from October 2005 to December 2007. She was Senior Vice President, Treasurer, and Head of Fund Administration of the Evergreen Funds from April 1997 to October 2005. |
| Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None | Other Directorships held During the Past Five Years<sup>2</sup> None |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Kosel has significant board experience, including past service on the boards of Evergreen Funds and Sun Capital Advisers Trust; significant executive experience, including past service at a large asset management company and significant experience in the investment management industry. |

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| | | |
|:---|:---|:---|
| Charlotte Tiedemann Petersen | Charlotte Tiedemann Petersen | Charlotte Tiedemann Petersen |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1960 | Trustee since January 2023 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Self-employed as a private real estate investor/principal since January 2011. Ms. Petersen served as Chief Investment Officer at Alexander Capital Management from April 2006 to December 2010. From July 1993 to June 2002, Ms. Petersen was a Portfolio Manager, Partner and Management Committee member of Denver Investment Advisors LLC. |
| Other Directorships held During the Past Five Years<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. | Other Directorships held During the Past Five Years<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. | Other Directorships held During the Past Five Years<sup>2</sup> Investment Committee for the University of Colorado Foundation from February 2015 to June 2022. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Ms. Petersen has significant board experience including past service as a Trustee of Scout Funds and Director of Fischer Imaging, where she chaired committees for both entities; significant experience in the investment management industry and is a Chartered Financial Analyst. |
| David E. Wezdenko | David E. Wezdenko | David E. Wezdenko |
| Year of Birth | Positions Held with Trust and Length of Time Served<sup>1</sup> | Number of Portfolios Overseen in the Nationwide Fund Complex |
| 1963 | Trustee since January 2021 | 113 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Wezdenko is a Co-Founder and Managing Partner of Blue Leaf Ventures (venture capital firm, founded May 2018). From November 2008 until December 2017, Mr. Wezdenko was Managing Director of JPMorgan Chase & Co. |
| Other Directorships held During the Past Five Years<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. | Other Directorships held During the Past Five Years<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. | Other Directorships held During the Past Five Years<sup>2</sup> Independent Trustee for National Philanthropic Trust from October 2021 to present and Board Member for Saint Vincent de Paul of Palm Beach County from May 2023 to present. |
| Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. | Experience, Qualifications, Attributes, and Skills for Board Membership<br> Mr. Wezdenko has significant board experience; significant past service at a large asset and wealth management company and significant experience in the investment management industry. |

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<sup>1</sup> Length of time served includes time served with the Trust's predecessors. The tenure of each Trustee is subject to the Board's retirement policy, which states that a Trustee shall retire from the Boards of Trustees of the Trusts effective on December 31 of the calendar year during which he or she turns 75 years of age; provided this policy does not apply to a person who became a Trustee prior to September 11, 2019.

<sup>2</sup> Directorships held in: (1) any other investment companies registered under the 1940 Act, (2) any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or (3) any company subject to the requirements of Section 15(d) of the Exchange Act, which are required to be disclosed in this SAI. In addition, certain other directorships not meeting the aforementioned requirements may be included for certain Trustees such as board positions on non-profit organizations.

#### Officers of the Trust

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective immediately, the SAI is amended as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. The following replaces the table and accompanying footnotes under the heading "Officers of the Trust" beginning on page 37 of the SAI:

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| | |
|:---|:---|
| Joseph N. Aniano | Joseph N. Aniano |
| Year of Birth | Positions Held with Funds and Length of Time Served |
| 1978 | President, Chief Executive Officer and Principal Executive Officer since November 2025 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Aniano is President and Chief Executive Officer of Nationwide Investment Management Group and is a Senior Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as President of Nationwide Securities, LLC, and before that as Head of Investment Management Group Product Lifecycle Management. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Aniano is President and Chief Executive Officer of Nationwide Investment Management Group and is a Senior Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as President of Nationwide Securities, LLC, and before that as Head of Investment Management Group Product Lifecycle Management. |

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| | | |
|:---|:---|:---|
| Lee T. Cummings | Lee T. Cummings | Lee T. Cummings |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1963 | Senior Vice President and Head of Fund Operations since December 2015 | Senior Vice President and Head of Fund Operations since December 2015 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Cummings is Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as the Trust's Treasurer and Principal Financial Officer, and served temporarily as the Trust's President, Chief Executive Officer and Principal Executive Officer from September 2022 until March 2023. |
| David Majewski | David Majewski | David Majewski |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1976 | Treasurer and Principal Financial Officer since September 2022 | Treasurer and Principal Financial Officer since September 2022 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Majewski is Senior Director, Financial Administration of Nationwide Investment Management Group. Mr. Majewski previously served as the Trust's Assistant Secretary and Assistant Treasurer. |
| Nicholas T. Graham | Nicholas T. Graham | Nicholas T. Graham |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1982 | Vice President and Chief Compliance Officer since December 2025 | Vice President and Chief Compliance Officer since December 2025 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Vice President of NFA and Chief Compliance Officer of NFA and the Trust. He previously served as AVP, Chief Compliance Officer for the Nationwide Office of Investments and its registered investment adviser, Nationwide Asset Management, LLC<sup>1</sup>. |
| Stephen R. Rimes | Stephen R. Rimes | Stephen R. Rimes |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1970 | Secretary, Senior Vice President and General Counsel since December 2019 | Secretary, Senior Vice President and General Counsel since December 2019 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Rimes is Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group, and Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as Assistant General Counsel for Invesco from 2000-2019. |
| Christopher C. Graham | Christopher C. Graham | Christopher C. Graham |
| Year of Birth | Positions Held with Funds and Length of Time Served | Positions Held with Funds and Length of Time Served |
| 1971 | Senior Vice President, Head of Investment Strategies, Chief Investment Officer and Portfolio Manager since September 2016 | Senior Vice President, Head of Investment Strategies, Chief Investment Officer and Portfolio Manager since September 2016 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Graham is Senior Vice President, Head of Investment Strategies and Portfolio Manager for the Nationwide Funds Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> |
| Benjamin Hoecherl | Benjamin Hoecherl | Benjamin Hoecherl |
| Year of Birth | Year of Birth | Positions Held with Funds and Length of Time Served |
| 1976 | 1976 | Senior Vice President, Head of Business and Product Development since December 2023 |
| Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. | Principal Occupation(s) During the Past Five Years (or Longer)<br> Mr. Hoecherl is Vice President, Head of Business and Product Development for Nationwide Investment Management Group, and is a Vice President of Nationwide Mutual Insurance Company.<sup>1</sup> He previously served as AVP for Nationwide ProAccount within Nationwide Retirement Solutions. |

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<sup>1</sup> These positions are held with an affiliated person or principal underwriter of the Funds.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. The list of entities or people that are affiliates of both the Trust and Nationwide Fund Distributors LLC under the heading "Distributor" beginning on page 44 of the SAI is deleted in its entirety and replaced with the following:

Nationwide Fund Advisors

Nationwide Fund Management LLC

Nationwide Life Insurance Company

Nationwide Life and Annuity Insurance Company

Jefferson National Life Insurance Company

Jefferson National Life Insurance Company of New York

Nationwide Financial Services, Inc.

Nationwide Corporation

Nationwide Mutual Insurance Company

Christopher Graham

Nicholas T. Graham<br> Joseph N. Aniano

Lee T. Cummings

Stephen R. Rimes

David Majewski<br> Benjamin Hoecherl

#### PLEASE RETAIN THIS AMENDMENT FOR FUTURE REFERENCE

####** 

<br> ------

PART C

OTHER INFORMATION

#### ITEM 28. EXHIBITS

(a) [Second Amended and Restated Agreement and Declaration of Trust, dated June 17, 2009 (the "Amended Declaration"), of the Registrant, Nationwide Mutual Funds (the "Trust"), a Delaware Statutory Trust, previously filed as Exhibit EX-28.a with the Trust's registration statement on November 17, 2009, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000095012309063496/w76297aexv99w28wa.htm)

(b) [Third Amended and Restated Bylaws, dated August 28, 2020 (the "Amended Bylaws"), of the Trust, previously filed as Exhibit EX-28.b with the Trust's registration statement on September 17, 2020, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312520247776/d34464dex9928b.htm)

(c) Certificates for shares are not issued. Articles III, V, and VI of the Amended Declaration and Article VII of the Amended Bylaws, incorporated by reference to Exhibit (a) and (b) hereto, define rights of holders of shares.

(d) Investment Advisory Agreements

(1) [Investment Advisory Agreement, dated May 1, 2007, between the Trust and Nationwide Fund Advisors, pertaining to certain series of the Trust, previously filed as Exhibit EX-23.d.2 with the Trust's registration statement on June 14, 2007, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542807000203/ex-d2.txt)

(a) [Exhibit A to the Investment Advisory Agreement, amended October 1, 2024, previously filed as Exhibit EX-28.d.1.a with the Trust's registration statement on October 17, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524238632/d871818dex9928d1a.htm)

(2) [Investment Advisory Agreement, dated August 28, 2007, between the Trust and Nationwide Fund Advisors, pertaining to the Target Destination Funds of the Trust, previously filed as Exhibit EX-23.d.2 with the Trust's registration statement on August 27, 2007, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542807000304/ex-d2.txt)

(a) [Exhibit A to the Investment Advisory Agreement, amended January 16, 2025, previously filed as Exhibit EX-28.d.2.a with the Trust's registration statement on January 16, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525007595/d916679dex9928d2a.htm)

(3) [Investment Advisory Agreement, dated September 18, 2015, between the Trust and Nationwide Fund Advisors, pertaining to certain series of the Trust, previously filed as Exhibit EX-28.d.3 with the Trust's registration statement on October 13, 2015, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312515342551/d880918dex9928d3.htm)

(a) [Exhibit A to the Investment Advisory Agreement, as amended July 10, 2025, previously filed as Exhibit EX-28.d.3.a with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928d3a.htm)

(4) Subadvisory Agreements

(a) [Amended Subadvisory Agreement among the Trust, Nationwide Fund Advisors and BlackRock Investment Management, LLC, dated May 1, 2007, as amended June 16, 2010, previously filed as Exhibit EX-28.d.3.a with the Trust's registration statement on September 14, 2010, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000095012310086007/w79638aexv99w28wdw3wa.htm)

(1) [Exhibit A to the Amended Subadvisory Agreement, amended February 1, 2012, previously filed as Exhibit EX-28.d.3.a.1 with the Trust's registration statement on February 24, 2012, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312512077879/d274534dex9928d3a1.htm)

(b) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Nationwide Asset Management, LLC, dated January 1, 2008, previously filed as Exhibit EX-23.d.3.h with the Trust's registration statement on December 19, 2008, is hereby incorporated by reference](https://www.sec.gov/Archives/edgar/data/1048702/000089322008003224/w67455exv23wxdyx3yxhy.htm) .

(1) [Exhibit A to the Subadvisory Agreement, amended May 1, 2013, previously filed as Exhibit EX-28.d.3.c.1 with the Trust's registration statement on April 3, 2014, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312514129742/d686383dex99d3c1.htm)

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(c) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Bailard, Inc., dated June 4, 2013, previously filed as Exhibit EX-28.d.3.k with the Trust's registration statement on October 17, 2013, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312513402025/d567830dex9928d3k.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended March 31, 2014, previously filed as Exhibit EX-28.d.3.j.1 with the Trust's registration statement on April 3, 2014, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312514129742/d686383dex9928d3j1.htm)

(d) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Geneva Capital Management LLC, dated March 16, 2020, previously filed as Exhibit EX-16.6.d.ix with the Trust's registration statement on Form N-14 on July 22, 2020, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000168035920000397/nmfgenevasubadvagrmnt.htm)

(1) [<u>Exhibit A to the Subadvisory Agreement, amended March 11, 2021, previously filed as Exhibit</u> <u>EX-28.d.4.f.1 with the Trust's registration statement on February 18, 2022, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312522046344/d270228dex9928d4f1.htm)

(e) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Victory Capital Management, Inc., dated March 31, 2025, previously filed as Exhibit EX-28.d.4.g with the Trust's registration statement on May 29, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000168035925000422/victorysubadvisoryagreement.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended June 1, 2022, previously filed as Exhibit EX-28.d.4.i.1 with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928d4i1.htm)

(f) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Wellington Management Company LLP, dated December 14, 2016, previously filed as Exhibit EX-28.d.4.t with the Trust's registration statement on December 14, 2016, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312516792615/d231232dex9928d4t.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended June 1, 2022, previously filed as Exhibit EX-28.d.4.i.1 with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928d4i1.htm)

(g) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Loomis, Sayles & Company, L.P., dated May 5, 2017, previously filed as Exhibit EX-28.d.4.q with the Trust's registration statement on May 5, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517160122/d503674dex9928d4q.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended June 1, 2022, previously filed as Exhibit EX-28.d.4.k.1 with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928d4k1.htm)

(h) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Loomis, Sayles & Company, L.P., dated November 13, 2017, previously filed as Exhibit EX-28.d.4.q with the Trust's registration statement on November 22, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517350343/d477353dex9928d4q.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended December 9, 2024, previously filed as Exhibit EX-28.d.4.k.1 with the Trust's registration statement on December 16, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524279315/d893787dex9928d4k1.htm)

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(i) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and WCM Investment Management, dated November 13, 2017, previously filed as Exhibit EX-28.d.4.t with the Trust's registration statement on November 22, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517350343/d477353dex9928d4t.htm)

(j) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Mellon Investments Corporation (formerly, BNY Mellon Asset Management North America Corporation), dated July 13, 2018, as amended August 5, 2019, previously filed as Exhibit EX-16.6.d.xx with the Trust's registration statement on Form N-14 on September 27, 2019, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000168035919000562/subadvisoryagreement.htm)

(1) [<u>Exhibit A to the Subadvisory Agreement, amended March 12, 2020, previously filed as Exhibit</u> <u>EX-16.6.d.xx.1 with the Trust's registration statement on Form N-14 on July 22, 2020, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000168035920000397/amndmnttomellonsubadvagrmnt.htm)

(k) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and BlackRock Investment Management, LLC, dated September 13, 2018, previously filed as Exhibit EX-28.d.4.w with the Trust's registration statement on November 2, 2018, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312518316535/d633053dex9928d4w.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended January 1, 2021, previously filed as Exhibit EX-28.d.4.r.1 with the Trust's registration statement on February 18, 2021, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312521047532/d119950dex99d4r1.htm)

(l) [<u>Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Dreyfus, a division of Mellon Investments Corporation, dated September 1, 2023, previously filed as Exhibit</u> <u>EX-28.d.4.p with the Trust's registration statement on February 20, 2024, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312524039904/d723798dex9928d4p.htm)

(m) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and GQG Partners LLC, effective January 7, 2021, previously filed as Exhibit EX-28.d.4.u with the Trust's registration statement on February 18, 2021, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312521047532/d119950dex9928d4u.htm)

(1) [Exhibit A to the Subadvisory Agreement, as amended March 12, 2025, previously filed as Exhibit EX-28.d.4.p.1 with the Trust's registration statement on July 1, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000168035925000537/gqgexhibitatosubadvsagreemnt.htm)

(n) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Newton Investment Management North America, LLC, effective August 31, 2021, previously filed as Exhibit EX-28.d.4.w with the Trust's registration statement on Form N-1A on September 22, 2021, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113743921000921/exhibitd4w.htm)

(1) [Exhibit A to the Subadvisory Agreement, as amended October 1, 2024, previously filed as Exhibit EX-28.d.4.r.1 with the Trust's registration statement on October 17, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524238632/d871818dex9928d4r1.htm)

(o) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Goldman Sachs Asset Management, L.P., effective September 23, 2021, previously filed as Exhibit EX-28.d.4.x with the Trust's registration statement on December 10, 2021, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312521353450/d437041dex9928d4.htm)

(1) [Exhibit A to the Subadvisory Agreement, amended June 30, 2023, previously filed as Exhibit EX-28.d.4.t.1 with the Trust's registration statement on July 13, 2023, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312523186467/d511512dex9928d4t1.htm)

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(p) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Jacobs Levy Equity Management, Inc., effective July 21, 2022, previously filed as Exhibit EX-28.d.4.y with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928d4y.htm)

(q) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Neuberger Berman Investment Advisers LLC, effective June 21, 2023, previously filed as Exhibit EX-28.d.4.w with the Trust's registration statement on July 13, 2023, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312523186467/d511512dex9928d4w.htm)

(r) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Los Angeles Capital Management LLC, effective September 11, 2024, previously filed as Exhibit EX-28.d.4.w with the Trust's registration statement on October 17, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524238632/d871818dex9928d4w.htm)

(1) [Exhibit A to the Subadvisory Agreement, as amended July 10, 2025, previously filed as Exhibit EX-28.d.4.u.1 with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928d4u1.htm)

(s) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Invesco Advisers, Inc., effective May 7, 2025, previously filed as Exhibit EX-28.d.4.w with the Trust's registration statement on May 29, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000168035925000422/invescosubadvisoryagreement.htm)

(t) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and J.P. Morgan Investment Management Inc., effective June 10, 2025, previously filed as Exhibit EX-28.d.4.t with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928d4t.htm)

(u) [Subadvisory Agreement among the Trust, Nationwide Fund Advisors and Schroder Investment Management North America Inc., effective September 15, 2025, previously filed as Exhibit EX-28.d.4.u with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928d4u.htm)

(e) (1) [Underwriting Agreement, dated May 1, 2007, between the Trust and Nationwide Fund Distributors, LLC, previously filed as Exhibit EX-23.e.1 with the Trust's registration statement on June 14, 2007, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542807000203/ex-e1.txt)

(a) [Schedule A to the Underwriting Agreement, amended July 10, 2025, previously filed as Exhibit EX-28.e.1.a with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928e1a.htm)

(2) [Form of Dealer Agreement, dated 2008, previously filed as Exhibit EX-23.e.2 with the Trust's registration statement on February 27, 2008, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542808000086/ex-e2.txt)

(f) Not applicable.

(g) Custodian Agreement

(1) [Global Custody Agreement, Investment Company Rider, Global Proxy Service Rider and Special Terms and Conditions Rider, dated April 4, 2003, between the Trust and JPMorgan Chase Bank, previously filed as Exhibit EX-23.g.1 with the Trust's registration statement on February 28, 2005, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000095011605000789/ex99-g1.txt)

(a) [Amendment to Global Custody Agreement, dated December 2, 2009, previously filed as Exhibit EX-28.g.1.a with the Trust's registration statement on February 26, 2010, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000095012310018203/w76297bexv99w28wgw1wa.htm)

(b) [Amendment to Global Custody Agreement, dated December 9, 2015, previously filed as Exhibit EX-28.g.1.e with the Trust's registration statement on September 30, 2016, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312516727668/d249015dex9928g1e.htm)

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(c) [Amendment to Global Custody Agreement, dated February 1, 2022, previously filed as Exhibit EX-28.g.1.e with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928g1e.htm)

(d) [Amendment to Global Custody Agreement, dated September 18, 2024, previously filed as Exhibit EX-28.g.1.d with the Trust's registration statement on October 17, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524238632/d871818dex9928g1d.htm)

(e) [Amendment to Global Custody Agreement, dated July 10, 2025, previously filed as Exhibit EX-28.g.1.e with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928g1e.htm)

(2) [Waiver to Global Custody Agreement, dated February 28, 2005, between the Trust and JPMorgan Chase Bank, previously filed as Exhibit EX-23.g.1.a with the Trust's registration statement on February 28, 2006, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542806000080/ex-g1a.txt)

(3) [Cash Trade Execution Rider to Global Custody Agreement, dated April 4, 2003, previously filed as Exhibit EX-23.g.1.b with the Trust's registration statement on February 28, 2006, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542806000080/ex-g1b.txt)

(4) [Concentration Accounts Agreement, dated December 2, 2009, between the Trust and JPMorgan Chase Bank, previously filed as Exhibit EX-28.g.4 with the Trust's registration statement on February 26, 2010, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000095012310018203/w76297bexv99w28wgw4.htm)

(5) [Securities Lending Rider to Global Custody Agreement, dated March 28, 2014, previously filed as Exhibit EX-28.g.5 with the Trust's registration statement on September 30, 2016, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312516727668/d249015dex9928g5.htm)

(6) [Addendum to Fee Schedule to Securities Lending Rider to Global Custody Agreement, dated March 31, 2014, previously filed as Exhibit EX-28.g.6 with the Trust's registration statement on September 30, 2016, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312516727668/d249015dex9928g6.htm)

(7) [Joinder and Sixth Amendment to Securities Lending Agreement, dated February 4, 2022, previously filed as Exhibit EX-28.g.7 with the Trust's registration statement on February 18, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522046344/d270228dex9928g7.htm)

(h) (1) [Joint Fund Administration and Transfer Agency Agreement, dated May 1, 2010, between the Trust, Nationwide Variable Insurance Trust and Nationwide Fund Management LLC, previously filed as Exhibit EX-28.h.1 with the Trust's registration statement on September 14, 2010, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000095012310086007/w79638aexv99w28whw1.htm)

(a) [Schedule C to the Joint Fund Administration and Transfer Agency Agreement, amended September 1, 2012, previously filed as Exhibit EX-28.h.1.a with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928h1a.htm)

(2) [Administrative Services Plan, effective March 10, 2015, amended January 16, 2025, previously filed as Exhibit EX-28.h.2 with the Trust's registration statement on January 16, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525007595/d916679dex9928h2.htm)

(a) [Form of Servicing Agreement to Administrative Services Plan, dated January 2007, previously filed as Exhibit EX-23.h.2.b with the Trust's registration statement on February 28, 2007, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542807000066/ex99h2b.txt)

(3) [Form of Operational Service Agreement, dated 2007, previously filed as Exhibit EX-23.h.3 with the Trust's registration statement on August 27, 2007, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542807000304/ex-h3.txt)

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(4) [Expense Limitation Agreement between the Trust and Nationwide Fund Advisors, effective as of May 1, 2007, amended January 9, 2008, previously filed as Exhibit EX-23.h.4 with the Trust's registration statement on February 27, 2008, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542808000086/ex-h4.txt)

(a) [Amendment to Expense Limitation Agreement, dated March 1, 2017, previously filed as Exhibit EX-28.h.4.a with the Trust's registration statement on May 5, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517160122/d503674dex9928h4a.htm)

(b) [Amendment No. 2 to Expense Limitation Agreement, dated July 1, 2018, previously filed as Exhibit EX-28.h.4.b with the Trust's registration statement on September 24, 2018, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312518281193/d619444dex9928h4b.htm)

(c) [Amendment No. 3 to Expense Limitation Agreement, dated September 13, 2023, previously filed as Exhibit EX-28.h.4.c with the Trust's registration statement on February 20, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524039904/d723798dex9928h4c.htm)

(d) [Exhibit A to the Expense Limitation Agreement, amended November 17, 2025, previously filed as Exhibit EX-28.h.4.d with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928h4d.htm)

(5) [Assignment and Assumption Agreement between Gartmore Mutual Funds, an Ohio Business Trust ("OBT"), and the Trust, dated February 28, 2005, assigning to the Trust OBT's title, rights, interests, benefits and privileges in and to certain contracts listed in the Agreement, previously filed as Exhibit EX-23.h.11 with the Trust's registration statement on February 28, 2006, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113542806000080/ex-h11.txt)

(6) [<u>Administrative Services Fee Waiver Agreement between the Trust and Nationwide Financial Services, Inc., on behalf of the Nationwide Government Money Market Fund, dated March 1, 2025, previously filed as Exhibit</u> <u>EX-28.h.6 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928h6.htm)

(7) [<u>Rule 12b-1 Fee Waiver Agreement between the Trust and Nationwide Fund Advisors, on behalf of the Nationwide Government Money Market Fund, dated March 1, 2025, previously filed as Exhibit</u> <u>EX-28.h.7 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928h7.htm)

(8) [<u>Amended and Restated Fee Waiver Agreement between the Trust and Nationwide Fund Advisors, on behalf of the Nationwide Fund, Nationwide Government Money Market Fund, Nationwide International Equity Portfolio, Nationwide Loomis Short Term Bond Fund, Nationwide Mid Cap Market Index Fund and Nationwide Small Cap Index Fund, effective as of March 1, 2025, as amended August 22, 2025, previously filed as Exhibit</u> <u>EX-28.h.8 with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928h8.htm)

(9) [<u>Investment Advisory Fee Waiver Agreement between the Trust and Nationwide Fund Advisors, dated March 1, 2025, on behalf of the Nationwide Government Money Market Fund, previously filed as Exhibit</u> <u>EX-28.h.9 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928h9.htm)

(10) [<u>Administrative Services Fee Waiver Agreement between the Trust and Nationwide Financial Services, Inc., on behalf of the Nationwide GQG US Quality Equity Fund, dated January 23, 2023, previously filed as Exhibit EX-28.h.11</u> <u>with the Trust's registration statement on February 27, 2023, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312523050465/d460293dex9928h11.htm)

(11) [Administrative Services Fee Waiver Agreement between the Trust and Nationwide Financial Services, Inc., on behalf of the Nationwide Loomis Core Bond Fund, dated February 17, 2025, previously filed as Exhibit EX-28.h.11 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928h11.htm)

(12) [Fee Waiver Agreement between the Trust and Nationwide Fund Advisors, on behalf of the Nationwide Fundamental All Cap Equity Portfolio, effective as of July 1, 2025, previously filed as Exhibit EX-28.h.12 with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928h12.htm)

(i) Not applicable.

(j) Not applicable.

(k) Not applicable.

------

(l) Not applicable.

(m) [Distribution Plan under Rule 12b-1, amended January 16, 2025, previously filed as Exhibit EX-28.m with the Trust's registration statement on January 16, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525007595/d916679dex9928m.htm)

(n) [<u>Rule 18f-3 Plan, effective March 2, 2009, amended July 10, 2025, previously filed as Exhibit</u> <u>EX-28.n with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928n.htm)

(o) Not applicable.

(p) (1) [Code of Ethics for Nationwide Fund Advisors, the Trust and Nationwide Variable Insurance Trust, dated November 2023, previously filed as Exhibit EX-28.p.1 with the Trust's registration statement on February 20, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524039904/d723798dex9928p01.htm)

(2) [<u>Code of Ethics for Fund Access Persons for BlackRock Investment Management, LLC, effective April 1, 2021, reviewed March 6, 2024, previously filed as</u> <u>Exhibit EX-28.p.2 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p2.htm)

(3) [Code of Ethics for Nationwide Fund Distributors, LLC, January 1, 2024, previously filed as Exhibit EX-28.p.3 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p3.htm)

(4) [<u>Code of Ethics and Business Conduct for Bailard, Inc., dated August 16, 2024, previously filed as Exhibit</u> <u>EX-28.p.6 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p6.htm)

(5) [Code of Ethics for Geneva Capital Management LLC, dated August 25, 2021, previously filed as Exhibit EX-28.p.7 with the Trust's registration statement on February 20, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524039904/d723798dex9928p07.htm)

(6) [Code of Ethics for Wellington Management Company LLP, dated December 1, 2023, previously filed as Exhibit EX-28.p.9 with the Trust's registration statement on February 20, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524039904/d723798dex9928p09.htm)

(7) [<u>Code of Ethics</u> <u>for Loomis, Sayles & Company, L.P., effective January 14, 2000, amended October 18, 2024, previously filed as</u> <u>Exhibit EX-28.p.10 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p10.htm)

(8) [<u>Code of Ethics for WCM Investment Management, LLC, dated June 30, 2024, previously filed as Exhibit</u> <u>EX-28.p.11 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p11.htm)

(9) [<u>Code of Ethics for Nationwide Asset Management, LLC, dated June 2024, previously filed as Exhibit</u> <u>EX-28.p.12 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p12.htm)

(10) [<u>Personal Trading Policy and Code of Conduct for Mellon Investments Corporation, dated January 29, 2024, previously filed as Exhibit</u> <u>EX-28.p.13 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p13.htm)

(11) [<u>Code of Ethics for GQG Partners LLC, dated March 2024, previously filed as Exhibit</u> <u>EX-28.p.14 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p14.htm)

(12) [Code of Conduct for Newton Investment Management North America, LLC, dated December 2024, previously filed as Exhibit EX-28.p.16 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p16.htm)

(13) [<u>Personal Trading Policy and Code of Conduct for Dreyfus, a division of Mellon Investments Corporation, dated January 29, 2024, previously filed as</u> <u>Exhibit</u> <u>EX-28.p.17 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p17.htm)

(14) [Code of Ethics for Goldman Sachs Asset Management, L.P., dated September 17, 2024, previously filed as Exhibit EX-28.p.19 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p19.htm)

------

(15) [Code of Ethics for Jacobs Levy Equity Management, Inc., revised January 2016, previously filed as Exhibit EX-28.p.24 with the Trust's registration statement on August 8, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312522214351/d379661dex9928p24.htm)

(16) [<u>Code of Ethics for Neuberger Berman Investment Advisers LLC, dated January 16, 2024, previously filed as Exhibit</u> <u>EX-28.p.21 with the Trust's registration statement on February 20, 2025, is hereby incorporated by reference.</u>](https://www.sec.gov/Archives/edgar/data/1048702/000119312525030652/d837196dex9928p21.htm)

(17) [Code of Ethics for Los Angeles Capital Management LLC, dated July 16, 2024, previously filed as Exhibit EX-28.p.22 with the Trust's registration statement on September 18, 2024, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312524221230/d894883dex9928p22.htm)

(18) [Code of Ethics for Victory Capital Management Inc., effective July 1, 2023, previously filed as Exhibit EX-28.p.20 with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928p20.htm)

(19) [Code of Ethics and Personal Trading Policy for North America for Invesco Advisers, Inc., effective January 2025, previously filed as Exhibit EX-28.p.21 with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928p21.htm)

(20) [Code of Ethics for Schroder Investment Management North America Inc., effective May 1, 2017, revised August 2025, previously filed as Exhibit EX-28.p.20 with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928p20.htm)

(q) (1) [Power of Attorney with respect to the Trust for Charles E. Allen, dated June 14, 2017, previously filed as Exhibit EX-28.q.1 with the Trust's registration statement on August 24, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517266421/d387215dex9928q1.htm)

(2) [Power of Attorney with respect to the Trust for Douglas F. Kridler, dated June 14, 2017, previously filed as Exhibit EX-28.q.5 with the Trust's registration statement on August 24, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517266421/d387215dex9928q5.htm)

(3) [Power of Attorney with respect to the Trust for Keith F. Karlawish, dated June 14, 2017, previously filed as Exhibit EX-28.q.7 with the Trust's registration statement on August 24, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517266421/d387215dex9928q7.htm)

(4) [Power of Attorney with respect to the Trust for Carol A. Kosel, dated June 14, 2017, previously filed as Exhibit EX-28.q.9 with the Trust's registration statement on August 24, 2017, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312517266421/d387215dex9928q9.htm)

(5) [Power of Attorney with respect to the Trust for Lorn C. Davis, dated January 1, 2021, previously filed as Exhibit EX-28.q.10 with the Trust's registration statement on January 15, 2021, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312521009867/d70113dex9928q10.htm)

(6) [Power of Attorney with respect to the Trust for David E. Wezdenko, dated January 1, 2021, previously filed as Exhibit EX-28.q.11 with the Trust's registration statement on January 15, 2021, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312521009867/d70113dex9928q11.htm)

(7) [Power of Attorney with respect to the Trust for David Majewski, dated September 28, 2022, previously filed as Exhibit EX-28.q.12 with the Trust's registration statement on October 11, 2022, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000113743922000941/ex28q12.htm)

(8) [Power of Attorney with respect to the Trust for Charlotte Petersen, dated January 1, 2023, previously filed as Exhibit EX-28.q.11 with the Trust's registration statement on February 21, 2023, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312523043501/d459282dex9928q11.htm)

(9) [Power of Attorney with respect to the Trust for Kristina Bradshaw, dated January 1, 2023, previously filed as Exhibit EX-28.q.12 with the Trust's registration statement on February 21, 2023, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312523043501/d459282dex9928q12.htm)

(10) [Power of Attorney with respect to the Trust for Tracy Bollin, dated July 1, 2025, previously filed as Exhibit EX-28.q.11 with the Trust's registration statement on July 10, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525157578/d74421dex9928q11.htm)

(11) [Power of Attorney with respect to the Trust for Joseph Aniano, dated November 13, 2025, previously filed as Exhibit EX-28.q.11 with the Trust's registration statement on December 12, 2025, is hereby incorporated by reference.](https://www.sec.gov/Archives/edgar/data/1048702/000119312525317710/d28597dex9928q11.htm)

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#### ITEM 29. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT
No person is presently controlled by or under common control with Registrant.

#### ITEM 30. INDEMNIFICATION
Indemnification provisions for officers, directors and employees of the Registrant are set forth in Article VII, Section 2 of the Amended Declaration. See Item 28(a) above.

The Trust has entered into indemnification agreements with each of the trustees and certain of its officers. The indemnification agreements provide that the Trust will indemnify the indemnitee for and against any and all judgments, penalties, fines, and amounts paid in settlement, and all expenses actually and reasonably incurred by indemnitee in connection with a proceeding that the indemnitee is a party to or is threatened to be made a party to (other than certain exceptions specified in the agreements), to the maximum extent not expressly prohibited by Delaware law or applicable federal securities law and regulations (including, without limitation, Section 17(h) of the Investment Company Act of 1940 and the rules and regulations issued with respect thereto by the U.S. Securities and Exchange Commission). The Trust also will indemnify indemnitee for and against all expenses actually and reasonably incurred by indemnitee in connection with any proceeding to which indemnitee is or is threatened to be made a witness but not a party. See Item 23(h)(4) above.

Insofar as indemnification for liability arising under the Securities Act of 1933 (the "Act") may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the U.S. Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, 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 a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities 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 Act and will be governed by the final adjudication of such issue.

#### ITEM 31. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER
&nbsp;&nbsp;&nbsp;&nbsp;(a) Nationwide Fund Advisors ("NFA"), the investment adviser to the Trust, also serves as investment adviser to Nationwide Variable Insurance Trust. To the knowledge of the Registrant, the directors and officers of NFA have not been
 engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of NFA or its affiliates.

Each of the following persons serves in the same or similar capacity with one or more affiliates of Nationwide Fund Advisors. The address for the persons listed below, except as otherwise noted, is One Nationwide Plaza, Columbus, OH 43215.

---

| | | | |
|:---|:---|:---|:---|
| **Name and Address**  | **Principal Occupation**  | **Position with NFA**  | **Position with Funds**  |
| Joseph N. Aniano | President and Chief Executive Officer of Nationwide Investment Management Group; Senior Vice President of Nationwide Mutual Insurance Company | President and Director | President, Chief Executive Officer and Principal Executive Officer |
| Lee T. Cummings | Senior Vice President and Head of Fund Operations of Nationwide Investment Management Group; Vice President of Nationwide Mutual Insurance Company | Senior Vice President | Senior Vice President and Head of Fund Operations |

---

------

---

| | | | |
|:---|:---|:---|:---|
| Kevin D. Grether | Vice President of NFA and Chief Compliance Officer of NFA and the Trust; Vice President of Nationwide Mutual Insurance Company | Vice President and Chief Compliance Officer | Senior Vice President and Chief Compliance Officer |
| Kevin P. Scheiderer | Vice President, Chief Tax Officer of Nationwide Mutual Insurance Company | Vice President-Chief Tax Officer | N/A |
| Denise L. Skingle | Senior Vice President, Finance & Strategy Legal and Corporate Secretary of Nationwide Mutual Insurance Company | Senior Vice President and Secretary | N/A |
| Steve A. Ginnan | Senior Vice President, Director and Chief Financial Officer of Nationwide Financial Services, Inc. | Director | N/A |
| Stephen R. Rimes | Vice President, Associate General Counsel and Secretary for Nationwide Investment Management Group; Vice President of Nationwide Mutual Insurance Company | Vice President, Associate General Counsel and Assistant Secretary | Secretary, Senior Vice President and General Counsel |
| Hope C. Hacker | Associate Vice President and Assistant Treasurer of Nationwide Mutual Insurance Company | Associate Vice President and Assistant Treasurer | N/A |
| Nathan Radabaugh | Associate Vice President and Assistant Treasurer of Nationwide Mutual Insurance Company | Associate Vice President and Assistant Treasurer | N/A |
| Anthony L. Sutch | Vice President and Assistant Treasurer of Nationwide Mutual Insurance Company | Vice President and Assistant Treasurer | N/A |
| David A. Garman | Vice President-Enterprise Governance & Finance Legal of Nationwide Mutual Insurance Company | Vice President and Assistant Secretary | N/A |
| Mark E. Hartman | Sr. Counsel, Corporate Governance and Assistant Secretary of Nationwide Mutual Insurance Company | Assistant Secretary | N/A |
| David Dokko | Sr. Counsel, Corporate Governance and Assistant Secretary of Nationwide Mutual Insurance Company | Assistant Secretary | N/A |
| John L. Carter | President and Chief Operating Officer of Nationwide Financial Services, Inc. | Director | N/A |

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------

<u> Steve Hall </u> <u> Associate Vice President, Investments and Risk Data Analytics Risk Monitoring </u> <u> Associate Vice President-Derivatives Risk Manager </u> <u> N/A </u> <br> <u> Tonya G. Walker </u> <u> Associate Vice President and Assistant Treasurer of Nationwide Mutual Insurance Company </u> <u> Associate Vice President and Assistant Treasurer </u> <u> N/A </u>

&nbsp;&nbsp;&nbsp;&nbsp;(b) BlackRock Investment Management, LLC ("BlackRock") acts as subadviser to the Nationwide S&P 500 Index Fund, Nationwide Small Cap Index Fund, Nationwide Mid Cap Market Index Fund, Nationwide Bond Index Fund and Nationwide
 International Index Fund. To the knowledge of the Registrant, the directors and officers of BlackRock have not been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their
 capacities as a director or officer of affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Nationwide Asset Management, LLC ("NWAM") acts as subadviser to the Nationwide Inflation-Protected Securities Fund. To the knowledge of the Registrant, the directors and officers of NWAM have not been engaged in any other business or
 profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Dreyfus, a division of Mellon Investments Corporation ("MIC"), acts as subadviser to the Nationwide Government Money Market Fund. MIC also acts as an investment adviser or subadviser to other investment companies. To the knowledge of
 the Registrant, the directors and officers of MIC have not been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated
 entities.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Mellon Investments Corporation ("MIC") acts as subadviser to the Nationwide NYSE Arca Tech 100 Index Fund. To the knowledge of the Registrant, the directors and officers of MIC have not been engaged in any other business or profession
 of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Bailard, Inc. ("Bailard") acts as subadviser to the Nationwide Bailard Cognitive Value Fund, Nationwide Bailard Technology & Science Fund and Nationwide Bailard International Equities Fund. To the knowledge of the Registrant, the
 directors and officers of Bailard have not been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities. Bailard
 provides real estate services (such as identifying and recommending potential property acquisitions and dispositions, supervising day-to-day property management and providing real estate research) to a client that is an affiliated private
 real estate investment trust.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Geneva Capital Management LLC ("Geneva") acts as subadviser to the Nationwide Geneva Mid Cap Growth Fund and Nationwide Geneva Small Cap Growth Fund. To the knowledge of the Registrant, the directors and officers of Geneva have not
 been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Wellington Management Company LLP ("Wellington Management") acts as subadviser to the Nationwide International Small Cap Fund. Wellington Management is an investment adviser registered under the Investment Advisers Act of 1940. During
 the past two fiscal years, no partner of Wellington Management has engaged in any other business, profession, vocation or employment of a substantial nature other than that of the business of investment management.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Loomis, Sayles & Company, L.P. ("Loomis Sayles") acts as subadviser to the Nationwide Loomis All Cap Growth Fund, Nationwide Loomis Core Bond Fund and Nationwide Loomis Short Term Bond Fund. The address of Loomis Sayles is One
 Financial Center, Boston, MA 02111. Loomis Sayles is an investment adviser registered under the Investment Advisers Act of 1940. Except as noted below, the directors and officers of Loomis Sayles have not been engaged in any other
 business or profession of a substantial nature during the past fiscal years, other than in their capacities as a director or officer of affiliated entities.

------

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| | | |
|:---|:---|:---|
| **Name and Position with Loomis Sayles**  | **Name and Principal Business Address of Other Company**  | **Connection with Other Company**  |
| Kevin P. Charleston<br> Chairman, Chief Executive Officer, President and Director | Loomis Sayles Funds I<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Loomis Sayles Funds II<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Natixis Funds Trust I<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Natixis Funds Trust II<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Natixis Funds Trust IV<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Natixis ETF Trust<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Natixis ETF Trust II<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Gateway Trust<br> 888 Boylston Street, Boston, MA 02199 | Trustee |
|  | Loomis Sayles Distributors, Inc.<br> One Financial Center, Boston, MA 02111 | Director |
|  | Loomis Sayles Investments Limited<br> The Economist Plaza, 25 St. James's Street, London, England SW1A 1 HA | Executive Vice President |
|  | Loomis Sayles Trust Company, LLC<br> One Financial Center, Boston, MA 02111 | Manager and President |
|  | Loomis Sayles Investments Asia Pte. Ltd.<br> 10 Collyer Quay #14-06, Ocean Financial Centre, Singapore 049315 | Director |
|  | Loomis Sayles Operating Services, LLC<br> One Financial Center, Boston, MA 02111 (dissolved 12/20/22) | Chairman and President (2020 -2022) |
|  | NIM-os, LLC<br> One Financial Center, Boston, MA 02111 | Director, Chairman and President |
| Matthew J. Eagan<br> Executive Vice President and Director |  |  |
| Daniel J. Fuss<br> Vice Chairman, Executive Vice President and Director | Loomis Sayles Funds I<br> 888 Boylston Street, Boston, MA 02199 | Executive Vice President (2003 to 2021) |
|  | Loomis Sayles Funds II<br> 888 Boylston Street, Boston, MA 02199 | Executive Vice President (2003 to 2021) |
| John R. Gidman<br> Executive Vice President, Chief Operating Officer and Director | Loomis Sayles Operating Services, LLC, One Financial Center, Boston, MA 02111 (dissolved 12/20/22) | Director and Chief Executive Officer (2020 - 2022) |
|  | NIM-os, LLC<br> One Financial Center, Boston, MA 02111 | Director and Chief Executive Officer |

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| | | |
|:---|:---|:---|
| David L. Giunta<br> Director | Natixis Investment Managers<br> 888 Boylston Street, Boston, MA 02199 | President and Chief Executive Officer, US |
|  | Natixis Advisors, LLC<br> 888 Boylston Street, Boston, MA 02199 | President and Chief Executive Officer |
|  | Natixis Distribution, LLC<br> 888 Boylston Street, Boston, MA 02199 | President and Chief Executive Officer |
|  | Loomis Sayles Funds I<br> 888 Boylston Street, Boston, MA 02199 | Trustee and Executive Vice President |
|  | Loomis Sayles Funds II<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Natixis Funds Trust I<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Natixis Funds Trust II<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Natixis Funds Trust IV<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Natixis ETF Trust<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Natixis ETF Trust II<br> 888 Boylston Street,<br> Boston, MA 02199 | Trustee, President and Chief Executive Officer |
|  | Gateway Trust<br> 888 Boylston Street, Boston, MA 02199 | Trustee, President and Chief Executive Officer |
| Aziz V. Hamzaogullari<br> Executive Vice President, Chief Investment Officer of the Growth Equity Strategies and Director |  |  |
| Kinji Kato<br> Director 6/17/22 to present) | Natixis Investment Managers Japan<br> Ark Hills South Tower 8F<br> 4-5, Roppongi 1-chome, Minato-ku<br> Tokyo 106-0032<br> Japan | Honorary Chairman |
| Maurice Leger<br> Director of Global Institutional Services,<br> Executive Vice President and Director | Loomis Sayles Trust Company, LLC<br> One Financial Center, Boston, MA 02111 | Manager |
| Rebecca O'Brien Radford<br> Executive Vice President, General Counsel, Secretary and Director (1/1/2023 to present) | Loomis Sayles Distributors, Inc.<br> One Financial Center, Boston, MA 02111 | Director |
|  | Loomis Sayles Investments Limited<br> The Economist Plaza, 25 St. James's Street, London, England SW1A 1 HA | General Counsel and Secretary |
|  | Loomis Sayles Trust Company, LLC<br> One Financial Center, Boston, MA 02111 | Manager and Secretary |

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| | | |
|:---|:---|:---|
|  | Loomis Sayles Operating Services, LLC, One Financial Center, Boston, MA 02111 (dissolved 12/20/22) | Director and Secretary (2020 - 2022) |
|  | NIM-os, LLC<br> One Financial Center, Boston, MA 02111 | Director, General Counsel and Secretary |
| Richard G. Raczkowski<br> Executive Vice President and Director |  |  |
| Susan L. Sieker<br> Executive Vice President, Chief Financial Officer and Director (2021-present) | Loomis Sayles Investments Limited<br> The Economist Plaza, 25 St. James's Street, London, England SW1A 1 HA | Chief Financial Officer |
|  | Loomis Sayles Trust Company, LLC<br> One Financial Center, Boston, MA 02111 | Manager and Chief Financial Officer |
|  | NIM-os, LLC<br> One Financial Center, Boston, MA 02111 | Director |
| David L. Waldman<br> Executive Vice President, Deputy Chief Investment Officer (2013-2021), Chief Investment Officer (2021-present) and Director |  |  |

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&nbsp;&nbsp;&nbsp;&nbsp;(j) WCM Investment Management, LLC ("WCMIM") acts as subadviser to the Nationwide WCM Focused Small Cap Fund. WCMIM is an investment adviser registered under the Investment Advisers Act of 1940. To the knowledge of the Registrant, the
 directors and officers of WCMIM have not been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(k) GQG Partners LLC ("GQG") acts as subadviser to the Nationwide GQG US Quality Equity Fund. Except as noted below, during past two fiscal years the directors and officers of GQG have not been engaged in any other business or profession
 of a substantial nature for his or her own account or in the capacity of director, officer, employee partner or trustee.

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| | | |
|:---|:---|:---|
| **Name and Position with<br> Investment Adviser** | **Name and Principal Business<br> Address of Other Company**  | **Connection with Other Company**  |
| Rajiv Jain, Chairman, Chief Investment Officer and Manager | GQG Partners Community Empowerment Foundation\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | Sole Member |
| Rajiv Jain, Chairman, Chief Investment Officer and Manager | GQG Partners Inc.\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | Executive Chairman, Chief Investment Officer |

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| | | |
|:---|:---|:---|
| Tim Carver, Chief Executive Officer and Manager | GQG Partners Inc.\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | Chief Executive Officer, Executive Director |
| Tim Carver, Chief Executive Officer and Manager | GQG Private Capital Solutions LLC\*<br> 909 A St, Suite 810<br> Tacoma, WA 98402 | Manager, Chief Executive Officer (as of April 2024) |
| Melodie Zakaluk,<br> Chief Financial Officer and Manager | GQG Global UCITS ICAV<br> 2nd Floor, 5 Earlsfort Terrace<br> Dublin D2<br> Ireland | Director (ended November 2022) |
| Melodie Zakaluk,<br> Chief Financial Officer and Manager | GQG Partners Inc.\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | Chief Financial Officer |
| Melodie Zakaluk,<br> Chief Financial Officer and Manager | GQG Partners (Australia) Pty Ltd\*<br> Chifley Tower, Level 15.03<br> 2 Chifley Square<br> Sydney, NSW 2000 Australia | Director |
| Melodie Zakaluk,<br> Chief Financial Officer and Manager | GQG Private Capital Solutions LLC\*<br> 909 A St, Suite 810<br> Tacoma, WA 98402 | Manager, Chief Financial Officer (as of April 2024) |
| Charles Falck<br> Chief Operating Officer | GQG Partners Inc.\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | Chief Operating Officer |
| Charles Falck<br> Chief Operating Officer | GQG Global UCITS ICAV<br> 2<sup>nd</sup> Floor, 5 Earlsfort Terrace<br> Dublin D2<br> Ireland | Director (as of November 2022) |
| Charles Falck<br> Chief Operating Officer | GQG Partners Ltd<br> Unit 12, Floor 7th,<br> Al Khatem Tower, ADGM Square,<br> Al Maryah Island,<br> Abu Dhabi, United Arab Emirates | Director (as of August 2023) |
| Charles Falck<br> Chief Operating Officer | GQG Private Capital Solutions LLC\*<br> 909 A St, Suite 810<br> Tacoma, WA 98402 | Chief Operating Officer (as of April 2024) |
| Sal DiGangi, Global Chief Compliance Officer | GQG Partners Inc.\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | Global Chief Compliance Officer |
| Frederick H. Sherley, General Counsel and Secretary | GQG Partners Inc.\*<br> 450 East Las Olas Blvd, Suite 750<br> Fort Lauderdale, FL 33301 | General Counsel and Corporate Secretary |
| Frederick H. Sherley, General Counsel and Secretary | GQG Private Capital Solutions LLC\*<br> 909 A St, Suite 810<br> Tacoma, WA 98402 | General Counsel and Secretary (as of April 2024) |

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\* Affiliated entity

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&nbsp;&nbsp;&nbsp;&nbsp;(l) Newton Investment Management North America, LLC ("Newton US") acts as a subadviser to the Nationwide BNY Mellon Dynamic U.S. Equity Income Fund and Nationwide BNY Mellon Dynamic U.S. Core Fund. The directors and officers of Newton US
 have not been engaged in any other business or profession of substantial nature during the past two fiscal years.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Goldman Sachs Asset Management, L.P. ("GSAM") is an indirect wholly owned subsidiary of The Goldman Sachs Group, Inc. and serves as a subadviser to the Nationwide Bond Portfolio and portions of the Nationwide Fundamental All Cap Equity
 Portfolio. GSAM is engaged in the investment advisory business. GSAM is part of The Goldman Sachs Group, Inc., a public company that is a bank holding company, financial holding company and a world-wide, full-service financial services
 organization. GSAM Holdings LLC is the general partner and principal owner of GSAM. To the knowledge of the Registrant, the directors and officers of GSAM have not been engaged in any other business or profession of a substantial nature
 during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(n) Invesco Advisers, Inc. ("Invesco") acts as a subadviser to the Nationwide Invesco Core Plus Bond Fund (formerly, Nationwide BNY Mellon Core Plus Bond Fund and Nationwide BNY Mellon Core Plus Bond ESG Fund). Except as noted below, no
 director, officer, or partner of Invesco has been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

The following table provides information with respect to the principal executive officer and the directors of Invesco.

Registrant's investment sub-adviser, Invesco is located at 1331 Spring Street NW, Suite 2500, Atlanta, GA 30309. In addition to providing sub-advisory services, Invesco, through its subsidiaries, engages in the business of investment management on an international basis. The directors, officers, or partners of Invesco have held, during the past two fiscal years, the following positions of a substantial nature.

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| | |
|:---|:---|
| **Name**  | **Position**  |
| Andrew R. Schlossberg | Director and Sr. Vice President |
| L. Allison Dukes | Director |
| Todd Kuehl | Chief Compliance Officer |
| Greg Ketron | Treasurer |
| Mark Gregson | Chief Accounting Officer and Controller |
| Terry Gibson Vacheron | Chief Financial Officer |
| Jeffrey H. Kupor | Director |
| Crissie M. Wisdom | Anti-Money Laundering Compliance Officer |
| Tony Wong | Director, President, Chief Executive Officer |

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&nbsp;&nbsp;&nbsp;&nbsp;(o) Jacobs Levy Equity Management, Inc. ("Jacobs Levy") acts as subadviser to the Nationwide U.S. 130/30 Equity Portfolio. To the knowledge of the Registrant, the directors and officers of Jacobs Levy have not been engaged in any other
 business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

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&nbsp;&nbsp;&nbsp;&nbsp;(p) Neuberger Berman Investment Advisers LLC ("NBIA") acts as a subadviser to the Nationwide Fundamental All Cap Equity Portfolio. NBIA is an indirect subsidiary of Neuberger Berman Group LLC ("NBG"). The directors, officers and/or
 employees of NBIA, who are deemed "control persons," of NBIA are: Joseph Amato, Ashok Bhatia, Kenneth deRegt, Douglas Kramer, and Stephen Wright. Mr. Amato is a Trustee of the Trust.

NBG's voting equity is owned by NBSH Acquisition, LLC ("NBSH"). NBSH is owned by portfolio managers, members of the NBG's management team, and certain of NBG's key employees and senior professionals.

&nbsp;&nbsp;&nbsp;&nbsp;(q) Los Angeles Capital Management LLC ("LA Capital") acts as subadviser to the Nationwide International Equity Portfolio and the Nationwide Large Cap Equity Portfolio.

The following table includes any other business, profession, vocation or employment that officers or directors of the adviser have been engaged in the capacity of director, officer, employee, partner or trustee within the last two fiscal years.

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| | | |
|:---|:---|:---|
| **Name** | **Outside Entity Name** | **Position Held** |
| Thomas Stevens | Proxy Parent Foundation (Plan of CA) | Vice Chairman of the Board |
| Thomas Stevens | Agripower | Advisory Board Member |
| Thomas Stevens | Special Olympics of Southern California | Member of Board of Directors |
| Thomas Stevens | University of Wisconsin Foundation | Board Member |
| Hal Reynolds | Campbell Hall School | Director |
| Hal Reynolds | College Foundation University of Virginia | Trustee |
| Laina Draeger | CFA LA Society ESG Advisory Board | Advisory Board Member |

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The following table includes other substantial business or employment of officers or directors of the adviser solely in connection with the parent companies and/or affiliates of the adviser.

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name** | **LACM Global Ltd.**<br> (Affiliate) | **Los Angeles Capital Global Funds plc (Affiliate)** | **LACM Holdings Inc.**<br> **(Parent Company of Adviser)** | **LACM Equity LLC (Parent Company of Adviser)** |
| Thomas Stevens | Director / Officer | Director | Director | Director |
| Hal Reynolds | Officer | | Director / Officer | Director / Officer |
| Daniel Allen | Director / Officer | Director | Director / Officer | Director / Officer |
| Jennifer Reynolds | Officer | | Director / Officer | Director / Officer |
| Stuart Matsuda | | | Director / Officer | Director / Officer |
| Edward Rackham | | | Officer | Officer |
| Bradford Rowe | | | Officer | Officer |
| Linda Barker | | | Officer | Officer |
| Liz Mueller | | | Officer | Officer |
| Steve Oetomo | | | Officer | Officer |

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&nbsp;&nbsp;&nbsp;&nbsp;(r) Victory Capital Management Inc. ("Victory Capital") acts as a subadviser to the Nationwide Strategic Income Fund. Victory Capital is an investment adviser registered under the Investment Advisers Act of 1940. To the knowledge of the
 Registrant, the directors and officers of Victory Capital have not been engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of
 affiliated entities.

&nbsp;&nbsp;&nbsp;&nbsp;(s) Schroder Investment Management North America Inc. ("Schroders") acts as subadviser to the Nationwide Schroders Global Equity Fund. To the knowledge of the Registrant, the directors and officers of Schroders have not been

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engaged in any other business or profession of a substantial nature during the past two fiscal years other than in their capacities as a director or officer of affiliated entities.

#### ITEM 32. PRINCIPAL UNDERWRITERS
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Nationwide Fund Distributors LLC, the principal underwriter of the Trust, also acts as principal underwriter for Nationwide Variable Insurance Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Herewith is the information required by the following table with respect to each director, officer or partner of NFD. The address for the persons listed below, except where otherwise noted, is One Nationwide Plaza, Columbus, OH 43215.

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| | | |
|:---|:---|:---|
| **Name:**  | **Position with NFD:**  | **Position with Registrant:**  |
| Holly A. Butson | Chief Compliance Officer | N/A |
| Lee T. Cummings | President | Senior Vice President and Head of Fund Operations |
| Ewan T. Roswell | Associate Vice President and Treasurer | N/A |
| Denise L. Skingle | Senior Vice President and Secretary | N/A |
| Jennifer L. Monnin | Chief Marketing Officer | N/A |
| John L. Carter | Manager | N/A |
| Steven A. Ginnan | Manager | N/A |
| Joseph N. Aniano | Manager | President, Chief Executive Officer and Principal Executive Officer |

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

#### ITEM 33. LOCATION OF ACCOUNTS AND RECORDS
J.P. Morgan Investor Services Co.<br> 1 Beacon Street<br> Boston, Massachusetts 02108-3002

Nationwide Funds Group<br> One Nationwide Plaza<br> Columbus, OH 43215

#### ITEM 34. MANAGEMENT SERVICES
Not applicable.

#### ITEM 35. UNDERTAKINGS
Not applicable.

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#### SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, as amended, the Registrant has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the city of Columbus, and State of Ohio, on this 2<sup>nd</sup> day of January, 2026.

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| | |
|:---|:---|
| NATIONWIDE MUTUAL FUNDS | NATIONWIDE MUTUAL FUNDS |
| BY: | /s/ Allan J. Oster |
|  | Allan J. Oster, Attorney-In-Fact for Registrant |

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