# EDGAR Filing Document

**Accession Number:** 0000851680
**File Stem:** 0001193125-25-291191
**Filing Date:** 2025-11
**Character Count:** 1197212
**Document Hash:** 1b6f8cbc7f5b56fb87168c55957fe14e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-291191.hdr.sgml**: 20251121

**ACCESSION NUMBER**: 0001193125-25-291191

**CONFORMED SUBMISSION TYPE**: 485BPOS

**PUBLIC DOCUMENT COUNT**: 87

**FILED AS OF DATE**: 20251121

**DATE AS OF CHANGE**: 20251121

**EFFECTIVENESS DATE**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DOMINI INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000851680

**ORGANIZATION NAME:**
- **EIN:** 043081258
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05823
- **FILM NUMBER:** 251507442

**BUSINESS ADDRESS:**
- **STREET 1:** 180 MAIDEN LANE
- **STREET 2:** SUITE 1302
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10038-4925
- **BUSINESS PHONE:** 212-217-1100

**MAIL ADDRESS:**
- **STREET 1:** 180 MAIDEN LANE
- **STREET 2:** SUITE 1302
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10038-4925

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINI SOCIAL INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 20010814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINI SOCIAL EQUITY FUND
- **DATE OF NAME CHANGE:** 19930915

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINI SOCIAL INDEX TRUST
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DOMINI INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000851680

**ORGANIZATION NAME:**
- **EIN:** 043081258
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 485BPOS
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-29180
- **FILM NUMBER:** 251507441

**BUSINESS ADDRESS:**
- **STREET 1:** 180 MAIDEN LANE
- **STREET 2:** SUITE 1302
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10038-4925
- **BUSINESS PHONE:** 212-217-1100

**MAIL ADDRESS:**
- **STREET 1:** 180 MAIDEN LANE
- **STREET 2:** SUITE 1302
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10038-4925

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINI SOCIAL INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 20010814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINI SOCIAL EQUITY FUND
- **DATE OF NAME CHANGE:** 19930915

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DOMINI SOCIAL INDEX TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Domini Impact Equity Fund (Series ID: S000003423)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000009466 | Investor Shares      | DSEFX           |
| C000009467 | Class Y Shares       | DSFRX           |
| C000071456 | Institutional Shares | DIEQX           |

### Domini Impact Bond Fund (Series ID: S000003424)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000009468 | Investor Shares      | DSBFX           |
| C000110199 | Institutional Shares | DSBIX           |
| C000200994 | Class Y Shares       | DSBYX           |

### Domini Impact International Equity Fund (Series ID: S000014393)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000039201 | Investor Shares      | DOMIX           |
| C000123188 | Institutional Shares | DOMOX           |
| C000200995 | Class Y Shares       | DOMYX           |

### Domini Sustainable Solutions Fund (Series ID: S000067792)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000217516 | Investor Shares      | CAREX           |
| C000217517 | Institutional Shares | LIFEX           |

?xml version='1.0' encoding='ASCII'? Domini Investment Trust

------

As filed with the Securities and Exchange Commission on November 21, 2025

Registration Nos. 33-29180

and 811-05823

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

POST-EFFECTIVE AMENDMENT NO. 83

AND

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

AMENDMENT NO. 85

DOMINI INVESTMENT TRUST\*

(Exact Name of Registrant as Specified in Charter)

180 Maiden Lane, Suite 1302, New York, New York 10038-4925

(Address of Principal Executive Offices)

Registrant's Telephone Number, including Area Code: 212-217-1100

Carole M. Laible

Domini Impact Investments LLC

180 Maiden Lane, Suite 1302

New York, New York 10038-4925

(Name and Address of Agent for Service)

Copy To:

Roger P. Joseph, Esq.

Morgan Lewis & Bockius LLP

One Federal Street

Boston, Massachusetts 02110

**It is proposed that this filing become effective on November 30, 2025, pursuant to paragraph (b) of Rule 485 under the Securities Act of 1933, as amended.** 

------

![LOGO](g806602g58v49.jpg)

Prospectus November 30, 2025 Domini Impact Equity FundSM Investor shares (DSEFX), Institutional shares (DIEQX), and Class Y shares (DSFRX) Domini Sustainable Solutions FundSM Investor shares (CAREX) and Institutional shares (LIFEX) Domini Impact International Equity FundSM Investor shares (DOMIX), Institutional shares (DOMOX), and Class Y shares (DOMYX) Domini Impact Bond FundSM Investor shares (DSBFX), Institutional shares (DSBIX), and Class Y shares (DSBYX) The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a crime.

Prospectus November 30, 2025 Domini Impact Equity FundSM Investor shares (DSEFX), Institutional shares (DIEQX), and Class Y shares (DSFRX) Domini Sustainable Solutions FundSM Investor shares (CAREX) and Institutional shares (LIFEX) Domini Impact International Equity FundSM Investor shares (DOMIX), Institutional shares (DOMOX), and Class Y shares (DOMYX) Domini Impact Bond FundSM Investor shares (DSBFX), Institutional shares (DSBIX), and Class Y shares (DSBYX) The Securities and Exchange Commission has not approved or disapproved these securities or passed upon the adequacy of this prospectus. Any representation to the contrary is a crime.

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| 2 | **[The Domini Funds at a Glance](#tx806602_1)** |
|  | *A summary of each Domini Fund's investment objective, fees and expenses, portfolio turnover, investment strategies, risks, investment results, and management.* |
| 2 | **[Domini Impact Equity Fund](#tx806602_2)** |
| 12 | **[Domini Sustainable Solutions Fund](#tx806602_3)** |
| 23 | **[Domini Impact International Equity Fund](#tx806602_4)** |
| 35 | **[Domini Impact Bond Fund](#tx806602_5)** |
| 47 | **[Purchase and Sale of Fund Shares, Tax Information, and Payments to Broker-Dealers and Other Financial Intermediaries](#tx806602_6)** |
| 48 | **[More on the Funds' Investment Objectives and Strategies](#tx806602_7)** |
| 67 | **[More on the Risks of Investing in the Funds](#tx806602_8)** |
| 89 | **[Portfolio Holdings Information](#tx806602_9)** |
| 89 | **[Who Manages the Funds?](#tx806602_10)** |
| 96 | **[The Funds' Distribution Plan](#tx806602_11)** |
| A-1 | **[Shareholder Manual](#tx806602_12)** |
|  | *Information about buying, selling, and exchanging shares of the Funds, how Fund shares are valued, Fund distributions, and the tax consequences of an investment in a Fund.* |
| B-1 | **[Financial Highlights](#tx806602_13)** |
| C-1 | **[For Additional Information](#tx806602_14)** |

---

------

THE DOMINI FUNDS AT A GLANCE

DOMINI IMPACT EQUITY FUND<sup>SM</sup>

**Investment objective:** The Fund seeks to provide its shareholders with long-term total return.

**Fees and expenses of the Fund:** The table below describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** If you invest in Institutional or Class Y shares of the Fund through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** | **Class Y** |
| &nbsp;&nbsp;&nbsp; Paper document delivery fee (choose e-delivery to avoid this fee)<sup>1</sup> | $15/year | $15/year | $15/year |
| &nbsp;&nbsp;&nbsp; Outgoing bank wire transfer fee (deducted directly from sale proceeds) | $15/transfer | $15/transfer | $15/transfer |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses** <br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses** <br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses** <br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses** <br> (expenses that you pay each year as a percentage of the value of your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** | **Class Y** |
| &nbsp;&nbsp;&nbsp; Management fees | 0.20% | 0.20% | 0.20% |
| &nbsp;&nbsp;&nbsp; Distribution (12b-1) fees | 0.25% |  |  |
| &nbsp;&nbsp;&nbsp; Other expenses |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Sponsorship fee<sup>2</sup> | 0.45% | 0.45% | 0.45% |
| &nbsp;&nbsp;&nbsp;&nbsp; Other miscellaneous expenses | 0.14% | 0.09% | 0.29% |
| &nbsp;&nbsp;&nbsp;&nbsp; Total other expenses | 0.59% | 0.54% | 0.74% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses | 1.04% | 0.74% | 0.94% |
| &nbsp;&nbsp;&nbsp; Fee waiver and expense reimbursements<sup>3</sup> |  |  | -0.14% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses after fee waiver and expense reimbursements | 1.04% | 0.74% | 0.80% |

---

---

| | |
|:---|:---|
| 1 | Paper document delivery fee applies to direct Fund accounts with balances below $10,000 and may be avoided by choosing e-delivery of Fund statements, prospectuses, and reports. |

---

2 Sponsorship fee is for administrative services provided to the Fund by the Fund's Adviser.

---

| | |
|:---|:---|
| 3 | The Fund's Adviser has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commission, interest, taxes, and other extraordinary expenses) in order to limit Class Y share expenses to 0.80%. These expense limitations are in effect through November 30, 2026. There can be no assurance that the Adviser will extend the expense limitations beyond such time. While in effect, the arrangement may be terminated for a class only by agreement of the Adviser and the Fund's Board of Trustees. |

---

------

#### Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, that your investment has a 5% return each year, and that the Fund's operating expenses (reflecting applicable contractual fee waivers and expense reimbursement arrangements) remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Share classes**<br> (whether or not shares are redeemed) | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Investor | $106 | $331 | $574 | $1271 |
| &nbsp;&nbsp;&nbsp; Institutional | $76 | $237 | $411 | $918 |
| &nbsp;&nbsp;&nbsp; Class Y | $82 | $286 | $506 | $1142 |

---

**Portfolio turnover:** The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund's performance but are already reflected in its total returns. During the most recent fiscal year, the Fund's portfolio turnover rate was 21% of the average value of its portfolio.

**Principal investment strategies:** The Fund may invest in equity securities of companies of any market capitalization, but under normal circumstances, the Fund primarily invests in mid- and large-capitalization U.S. companies. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) will be invested in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights, and preferred shares. It is expected that at least 80% of the Fund's assets will be invested in mid- to large-capitalization companies under normal market conditions.

The Fund may also invest in companies organized or traded outside the U.S. The Fund may have significant exposure to securities of issuers in the information technology, financials, consumer discretionary, and health care sectors.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). All of the investment selections made by the Adviser are based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors").

------

The Fund may, but is not required to, invest in companies that, in addition to being evaluated by the Adviser on environmental and social factors, also demonstrate a commitment to sustainability solutions. The Adviser will consider a company to demonstrate a commitment to sustainability solutions if the Adviser determines, based on its analysis, that the company provides, invests in or creates products or services that seek to help: accelerate the transition to a low-carbon future, contribute to the development of sustainable and resilient communities, promote a circular economy with sustainable production and consumption, provide access to clean water, support more sustainable food and agricultural systems, promote societal health and well-being, broaden financial inclusion and/or promote sustainable finance, or bridge the digital divide and/or support sustainable information and communication systems. A company that demonstrates a commitment to sustainability solutions is also evaluated on financial criteria.

A security will be sold if the Adviser determines that the company is no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors, financial criteria, and/or the company no longer demonstrates a commitment to sustainability solutions, as applicable.

SSGA Funds Management, Inc. (the "Subadviser"), the Fund's subadviser, will purchase or sell securities to implement the Adviser's investment selections at a time determined appropriate by the Subadviser and in accordance with, but not necessarily in the identical amounts as provided with the Adviser's investment selections.

**Principal risks:** Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly in the short and long term. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You may lose all or part of your investment in the Fund or your investment may not perform as well as other similar investments. There is no guarantee that the Fund's investment objective will be achieved. The following is a summary description of certain risks of investing in the Fund. Each risk summarized below is a principal risk of investing in the Fund and different risks may be more significant at different times depending on market conditions or other factors.

• **Impact Investing Risk.** The Adviser's evaluation of environmental and social factors in its investment selections, as well as its evaluation of a company's commitment to sustainability solutions, and the timing and amount of the Subadviser's implementation of the Adviser's investment selections will affect the Fund's exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities, including investments in certain market sectors that are available to funds that do not consider environmental and social factors and sustainability solutions in their investment selections.

------

• **Portfolio Management Risk**. The value of your investment may decrease if the Adviser's or Subadviser's judgment about the attractiveness or value of, or market trends affecting a particular security, industry, sector or region, or about market movements, or the timing or amount of an investment decision, is incorrect or does not produce the desired results. In addition, the Adviser's or Subadviser's investment process or approach may change from time to time. Those changes may not lead to the results intended by the Adviser or Subadviser and could have an adverse effect on the value or performance of the Fund.

• **Information Risk.** There is a risk that information used by the Adviser to evaluate environmental and social factors may not be readily available, complete, or accurate, which could negatively impact the Adviser's ability to evaluate such factors and negatively impact Fund performance. This may also lead the Fund to avoid investment in certain issuers, industries, markets, sectors, or regions.

• **Market Risk.** The market values of securities or other assets will fluctuate, sometimes sharply and unpredictably, due to changes in general market conditions, overall economic trends or events, governmental actions or intervention, actions taken by the U.S. Federal Reserve or foreign central banks, market disruptions caused by trade disputes, labor strikes or other factors, political developments, armed conflicts, economic sanctions and countermeasures in response to sanctions, major cybersecurity events, the global and domestic effects of widespread or local health, political instability, recessions, inflation, changes in interest or currency rates, the spread of infectious illness or other public health issues, weather or climate events, armed conflict, market disruptions caused by tariffs, trade disputes, sanctions or other government actions, or other factors or adverse investor sentiment that may or may not be related to the issuer of the security or other asset. Economies and financial markets throughout the world are increasingly interconnected. Economic, financial or political events, trading or tariff arrangements, public health events, terrorism, wars, natural disasters and other circumstances in one country or region could have profound impacts on other countries or regions and on global economies or markets. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries or markets directly affected, the value and liquidity of the Fund's investments may be negatively affected. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East have caused and could continue to cause significant market disruptions and volatility. The hostilities and sanctions resulting from those hostilities have and could continue to have a significant impact on certain Fund investments as well as Fund performance and liquidity. Following Russia's invasion of Ukraine in 2022, Russian stocks lost all, or nearly all, of their market value. Other securities or markets could be similarly affected by past or future geopolitical or other events or conditions. Furthermore, events involving limited liquidity, defaults, nonperformance or other adverse developments that affect one industry, such as the

------

financial services industry, or concerns or rumors about any events of these kinds, have in the past and may in the future lead to market-wide liquidity problems, may spread to other industries, and could negatively affect the value and liquidity of the Fund's investments. If the market values of the securities or other assets held by the Fund fall, including a complete loss on any individual security, the value of your investment will go down. A change in financial condition or other event affecting a single issuer or market may adversely impact securities markets as a whole. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.<br>

Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the total amount that the U.S. government is authorized to borrow could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets in the U.S. and elsewhere. Recently, inflation and interest rates have been volatile and may increase in the future. These circumstances could adversely affect the value and liquidity of the Fund's investments, impair the Fund's ability to satisfy redemption requests, and negatively impact the Fund's performance.

The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. The U.S. government has prohibited U.S. persons, such as the Fund, from investing in Chinese companies designated as related to the Chinese military. These and possible future restrictions could limit the Fund's opportunities for investment and require the sale of securities at a loss or make them illiquid. Moreover, China's long-running conflict over Taiwan's sovereignty, other disputes with many neighbors and historically strained relations with other Asian countries could result in military conflict. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China enters into military conflict with Taiwan, the Philippines or another neighbor, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund's assets may go down.

• **Equity Securities Risk.** The stock markets are volatile and the market prices of equity securities held by the Fund may go up or down, sometimes rapidly or unpredictably. Equity securities may have greater price volatility than other asset classes, such as fixed income securities. If the market prices of the equity securities owned by the Fund fall, the value of your investment in the Fund will decline. If the Fund holds equity securities in a company that becomes insolvent, the Fund's

------

interests in the company will be subordinated to the interests of debtholders and general creditors of the company, and the Fund may lose its entire investment.

• **Mid- to Large-Capitalization Companies Risk.** The market prices of companies at different capitalization levels may go up or down due to general market conditions and cycles. The value of your investment will be affected by the Fund's exposure to mid- and large-capitalization companies. Compared to large companies, mid-size companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss.

• **Small-Capitalization Companies Risk.** Compared to large- and mid-capitalization companies, small-capitalization companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss.

• **Foreign Investing Risk.** Investments in foreign regions or in securities of issuers with significant exposure to foreign markets may be more volatile and less liquid than U.S. investments due to adverse political, social, and economic developments, such as nationalization or expropriation of assets, imposition of currency controls or restrictions, investment and repatriation restrictions, confiscatory taxation, tariffs, trade disputes, armed conflict, sanctions or other government actions against nations, individuals or companies (or their countermeasures), terrorism, arbitrary application of laws and regulations or lack of rule of law, and political or financial instability; regulatory differences such as accounting, auditing, and financial reporting and recordkeeping standards and practices; weather or climate events; natural disasters; and the degree of government oversight and supervision. Investors in foreign countries often have limited rights and few practical remedies to pursue shareholder claims. Less information may be publicly available regarding foreign issuers. Foreign investing risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging market countries.

------

• **Market Sector Risk.** The Fund may hold a large percentage of securities in a particular market sector. To the extent the Fund holds a large percentage of securities in a particular sector, its performance will be tied closely to and affected by the performance of that sector, and the Fund will be subject to a greater degree to any market price movements, regulatory or technological change, economic conditions, the spread of infectious illness or other public health issues, or other developments or risks affecting such market sector than a Fund without the same focus.

**-** **Information Technology Sector Risk.** Information technology companies face intense competition and potentially rapid obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of such rights.

**-** **Financials Sector Risk.** Issuers in the financials sector, such as banks, insurance companies and broker-dealers, may be sensitive to changes in interest rates and general economic activity and are generally subject to extensive government regulation.

**-** **Consumer Discretionary Sector Risk.** Securities in the consumer discretionary sector, such as consumer durables, hotels, restaurants, media, retailing and automobiles, may be significantly affected by the performance of the overall economy, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes.

**-** **Health Care Sector Risk.** Securities in the health care sector, such as health care supplies, health care services, biotechnology and pharmaceuticals, may be significantly affected by government regulation and reimbursement rates, approval of products by government agencies, increases or decreases in the cost of medical products, services, and patient care, shortages of skilled personnel and increased personnel costs, product liability claims, among other factors. Many health care companies are heavily dependent on patent protection, and the expiration of a company's patent may adversely affect that company's profitability. Health care companies are subject to competitive forces that may result in price discounting, and may be thinly capitalized and susceptible to product obsolescence.

• **Valuation Risk.** The sales price the Fund could receive for any particular portfolio investment may differ from the Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair value methodology. These differences may increase significantly and affect Fund investments more broadly during periods of market volatility. Investors who purchase or redeem Fund shares on days when the Fund is holding fair valued securities may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the Fund had not fair-valued securities or had used a different valuation methodology. The ability to value the Fund's investments may be impacted by technological

------

issues and/or errors by pricing services or other third-party service providers. The valuation of the Fund's investments involves subjective judgment, which may prove to be incorrect.

• **Redemption Risk.** The Fund may experience heavy redemptions that could cause it to liquidate its assets at inopportune times or at a loss or depressed value or accelerate taxable gains or transaction costs, which could cause the value of your investment to decline.

• **Cybersecurity Risk.** Like other funds and business enterprises, the Fund, the Adviser and their service providers are subject to the risk of cyber incidents occurring from time to time. Cybersecurity incidents, whether intentionally caused by third parties or otherwise, may allow an unauthorized party to gain access to Fund assets, Fund or customer data (including private shareholder information) or proprietary information, cause the Fund, the Adviser and/or their service providers (including, but not limited to, the Subadviser, fund accountants, custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality, or prevent Fund investors from purchasing, redeeming or exchanging shares, receiving distributions or receiving timely information regarding the Fund or their investment in the Fund. The Fund and the Adviser have limited ability to prevent or mitigate cybersecurity incidents affecting third party service providers, and such third party service providers may have limited indemnification obligations to the Fund and the Adviser. Cybersecurity incidents may result in financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent or mitigate any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers experience cybersecurity incidents. New ways to carry out cyber attacks continue to develop. There is a chance that some risks have not been identified or prepared for, or that an attack may not be detected, which puts limitations on the Fund's ability to plan for or respond to a cyber attack.

These and other risks are discussed in more detail later in this prospectus or in the SAI. Please note that there are many other factors that could adversely affect your investment and that could prevent the Fund from achieving its goals.

------

**Investment results:** The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for Investor shares and by showing how the Fund's average annual total returns for 1, 5, and 10 years compare with those of a broad measure of market performance, the Standard and Poor's 500 (S&P 500) Index. SSGA Funds Management, Inc. commenced submanagement services for the Fund on December 1, 2018. A different subadviser served as the Fund's subadviser for periods prior to December 1, 2018. The performance shown for periods prior to December 1, 2018, reflects the investment strategies employed during those periods. The returns for each class of the Fund will differ from Investor shares because of the different expenses applicable to those share classes.

Updated information on the Fund's investment results can be obtained by visiting *domini.com/performance* or by calling 1-800-582-6757.

*The Fund's past results (before and after taxes) are not necessarily an indication of how the Fund will perform in the future.*![LOGO](g806602g01a01.jpg)

Highest/lowest quarterly results during this time period were: 23.39% (quarter ended 6/30/2020) and –18.80% (quarter ended 6/30/2022). The Fund's year-to-date results as of the most recent calendar quarter ended 09/30/2025 were 8.77%.

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** |
|  | **1 Year** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Domini Impact Equity Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investor shares: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return before taxes | 21.87% | 13.00% | 10.14% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions | 20.44% | 12.10% | 8.91% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions and sale of shares | 13.97% | 10.28% | 7.91% |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional shares return before taxes | 22.23% | 13.36% | 10.50% |
| &nbsp;&nbsp;&nbsp;&nbsp; Class Y shares return before taxes | 22.10% | 13.26% | 10.43% |
| &nbsp;&nbsp;&nbsp; S&P 500 Index <br>(reflects no deduction for fees, expenses, or taxes) | 25.02% | 14.53% | 13.10% |

---

After-tax returns are shown only for Investor shares; after-tax returns for other share classes will vary. After-tax returns are calculated using the highest individual marginal federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as a 401(k) plan or individual retirement account (IRA).

#### Investment management:
**Investment adviser**: Domini Impact Investments LLC ("Domini" or the "Adviser")

**Portfolio managers:** Amy Domini Thornton, Chair and Co-Manager of Domini (portfolio manager of the Fund since December 1, 2018); Carole M. Laible, CEO and Co-Manager of Domini (portfolio manager of the Fund since December 1, 2018); and Maria Llerena, CFA, Director of Financial Research of Domini (portfolio manager of the Fund since November 30, 2025).

**Subadviser:** SSGA Funds Management, Inc. ("SSGA FM" or the "Subadviser")

**Portfolio managers:** Kathleen Morgan, CFA, Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team (portfolio manager of the Fund since December 1, 2018).

Michael Finocchi, Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team (portfolio manager of the Fund since November 30, 2024).

For important information about purchase and sale of Fund shares, tax information, and financial intermediary compensation, please turn to "Purchase and Sale of Fund Shares, Tax Information, and Payments to Broker-Dealers and Other Financial Intermediaries" on page 47 of the Fund's prospectus.

------

DOMINI SUSTAINABLE SOLUTIONS FUND<sup>SM</sup>

**Investment objective:** The Fund seeks to provide its shareholders with long-term total return.

**Fees and expenses of the Fund:** The table below describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** If you invest in Institutional shares of the Fund through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** |
| &nbsp;&nbsp;&nbsp; Paper document delivery fee (choose e-delivery to avoid this fee)<sup>1</sup> | $15/year | $15/year |
| &nbsp;&nbsp;&nbsp; Outgoing bank wire transfer fee (deducted directly from sale proceeds) | $15/transfer | $15/transfer |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** |
| &nbsp;&nbsp;&nbsp; Management fees | 0.85% | 0.85% |
| &nbsp;&nbsp;&nbsp; Distribution (12b-1) fees | 0.25% |  |
| &nbsp;&nbsp;&nbsp; Other expenses | 0.95% | 0.66% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses | 2.05% | 1.51% |
| &nbsp;&nbsp;&nbsp; Fee waivers and expense reimbursements<sup>2</sup> | -0.75% | -0.46% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses after fee waivers and expense reimbursements<sup>3</sup> | 1.30% | 1.05% |

---

---

| | |
|:---|:---|
| 1 | Paper document delivery fee applies to direct Fund accounts with balances below $10,000 and may be avoided by choosing e-delivery of Fund statements, prospectuses, and reports. |

---

---

| | |
|:---|:---|
| 2 | The Fund's Adviser has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Investor share and Institutional share expenses to 1.30% and 1.05%, respectively. These expense limitations are in effect through November 30, 2026. There can be no assurance that the Adviser will extend the expense limitations beyond such time. While in effect, the arrangement may be terminated for a class only by agreement of the Adviser and the Fund's Board of Trustees. |

---

3 Restated to reflect current fees.

------

#### Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, that your investment has a 5% return each year, and that the Fund's operating expenses (reflecting applicable contractual fee waivers and expense reimbursement arrangements) remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Share classes**<br> (whether or not shares are redeemed) | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Investor | $132 | $570 | $1034 | $2319 |
| &nbsp;&nbsp;&nbsp; Institutional | $107 | $432 | $780 | $1762 |

---

**Portfolio turnover:** The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund's performance but are already reflected in its total returns. During the most recent fiscal year, the Fund's portfolio turnover rate was 64% of the average value of its portfolio.

**Principal investment strategies:** Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in securities of companies that demonstrate a commitment to sustainability solutions.

For purposes of the Fund's 80% policy, a company demonstrates a commitment to sustainability solutions if the Adviser determines, based on its analysis, that the company provides, invests in or creates products or services that seek to help:

• **Accelerate the transition to a low-carbon future**, including through renewable energy, distributed generation, off-grid solutions, energy storage, electric vehicles, energy management solutions, energy-efficient technologies, or related financial services;

• **Contribute to the development of sustainable and resilient communities**, including through energy-efficient transportation systems, affordable and/or resilient housing, sustainable infrastructure solutions, green buildings and materials, or related real estate investments;

• **Promote a circular economy with sustainable production and consumption,** including through efficient usage of natural resources, products using recycled or recyclable materials, products with longer life cycles, or solutions for product life cycle extension;

• **Provide access to clean water**, including through water infrastructure, affordable water services, water treatment solutions, plumbing and flow-control equipment, or water harvesting or conservation solutions;

------

• **Support more sustainable food and agricultural systems**, including through production or access to healthy, organic, plant-based, and/or fair-trade food, resource-efficient agriculture, support for small-scale farming, or the reduction of food waste;

• **Promote societal health and well-being**, including through vaccines or other preventative health care solutions, diagnostics, medicines, innovative medical equipment or technologies, or solutions related to consumer health, nutrition, fitness or safety;

• **Broaden financial inclusion and/or promote sustainable finance**, including through improvement of, or access to, capital, banking, insurance, investment, or other financial products or services; or

• **Bridge the digital divide and/or support sustainable information and communication systems**, including through access to information and communication technologies/services, education, training, or job placement, communications or network infrastructure, cybersecurity solutions, or related enterprise technology solutions.

A company that demonstrates a commitment to sustainability solutions is also evaluated on financial criteria.

The Fund may invest in equity securities issued by companies of any market capitalization located throughout the world, including the U.S. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights, and preferred shares.

Securities of foreign issuers may be purchased directly or through depositary receipts, including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs), or other securities representing underlying shares of foreign companies.

The Fund's investments are not constrained by benchmark weightings in regions, countries, or sectors. The Fund may have significant exposure to securities of issuers in the industrials, information technology, financials, health care, and consumer discretionary sectors. In addition, because the Fund is unconstrained to any benchmark, these exposures may change over time. The Fund may have significant exposure to any region, country or sector at any time. The Fund may invest in fewer than fifty securities.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). All of the investment selections made by the Adviser are based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors"). A security will be sold if the Adviser determines that the company is no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors, financial criteria, and/or the company no longer demonstrates a commitment to sustainability solutions, as applicable.

------

SSGA Funds Management, Inc. (the "Subadviser"), the Fund's subadviser, will purchase or sell securities to implement the Adviser's investment selections at a time determined appropriate by the Subadviser and in accordance with, but not necessarily in the identical amounts as provided with the Adviser's investment selections.

**Principal risks:** Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly in the short and long term. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You may lose all or part of your investment in the Fund or your investment may not perform as well as other similar investments. There is no guarantee that the Fund's investment objective will be achieved. The following is a summary description of certain risks of investing in the Fund. Each risk summarized below is a principal risk of investing in the Fund and different risks may be more significant at different times depending on market conditions or other factors.

• **Sustainable Investing Risk.** The Adviser's evaluation of environmental and social factors, application of sustainable investing criteria, and the timing and amount of the Subadviser's implementation of the Adviser's investment selections, will affect the Fund's exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities including investments in certain market sectors that are available to funds that do not consider sustainable investing criteria in their investment selections.

• **Portfolio Management Risk.** The value of your investment may decrease if the Adviser's or Subadviser's judgment about the attractiveness or value of, or market trends affecting a particular security, industry, sector or region, or about market movements, or the timing or amount of an investment decision, is incorrect or does not produce the desired results. In addition, the Adviser's or Subadviser's investment process or approach may change from time to time. Those changes may not lead to the results intended by the Adviser or Subadviser and could have an adverse effect on the value or performance of the Fund.

• **Information Risk.** There is a risk that information used by the Adviser to evaluate an investment, including environmental and social factors, may not be readily available, complete, or accurate, which could negatively impact the Adviser's ability to evaluate such information and negatively impact Fund performance. This may also lead the Fund to avoid investment in certain issuers, industries, markets, sectors, or regions.

• **Market Risk.** The market values of securities or other assets will fluctuate, sometimes sharply and unpredictably, due to changes in general market conditions, overall economic trends or events, governmental actions or intervention, actions taken by the U.S. Federal Reserve or foreign central banks, market disruptions caused by trade disputes, labor

------

strikes or other factors, political developments, armed conflicts, economic sanctions and countermeasures in response to sanctions, major cybersecurity events, political instability, recessions, inflation, changes in interest or currency rates, the global and domestic effects of widespread or local health, weather or climate events, armed conflict, market disruptions caused by tariffs, trade disputes, sanctions or other government actions, or other factors or adverse investor sentiment that may or may not be related to the issuer of the security or other asset. Economies and financial markets throughout the world are increasingly interconnected. Economic, financial or political events, trading or tariff arrangements, public health events, terrorism, wars, natural disasters and other circumstances in one country or region could have profound impacts on other countries or regions and on global economies or markets. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries or markets directly affected, the value and liquidity of the Fund's investments may be negatively affected. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East have caused and could continue to cause significant market disruptions and volatility. The hostilities and sanctions resulting from those hostilities have and could continue to have a significant impact on certain Fund investments as well as Fund performance and liquidity. Following Russia's invasion of Ukraine in 2022, Russian stocks lost all, or nearly all, of their market value. Other securities or markets could be similarly affected by past or future geopolitical or other events or conditions. Furthermore, events involving limited liquidity, defaults, nonperformance or other adverse developments that affect one industry, such as the financial services industry, or concerns or rumors about any events of these kinds, have in the past and may in the future lead to market-wide liquidity problems, may spread to other industries, and could negatively affect the value and liquidity of the Fund's investments. If the market values of the securities or other assets held by the Fund fall, including a complete loss on any individual security, the value of your investment will go down. A change in financial condition or other event affecting a single issuer or market may adversely impact securities markets as a whole. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.<br>

Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the total amount that the U.S. government is authorized to borrow could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets in the U.S. and elsewhere. Recently, inflation and interest rates have been volatile and may increase in the future. These circumstances could adversely affect the value and liquidity of the Fund's investments, impair the Fund's ability to satisfy redemption requests, and negatively impact the Fund's performance.

------

The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. The U.S. government has prohibited U.S. persons, such as the Fund, from investing in Chinese companies designated as related to the Chinese military. These and possible future restrictions could limit the Fund's opportunities for investment and require the sale of securities at a loss or make them illiquid. Moreover, China's long-running conflict over Taiwan's sovereignty, other disputes with many neighbors and historically strained relations with other Asian countries could result in military conflict. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China enters into military conflict with Taiwan, the Philippines or another neighbor, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund's assets may go down.

• **Equity Securities Risk.** The stock markets are volatile and the market prices of equity securities held by the Fund may go up or down, sometimes rapidly or unpredictably. Equity securities may have greater price volatility than other asset classes, such as fixed income securities. If the market prices of the equity securities owned by the Fund fall, the value of your investment in the Fund will decline. If the Fund holds equity securities in a company that becomes insolvent, the Fund's interests in the company will be subordinated to the interests of debtholders and general creditors of the company, and the Fund may lose its entire investment.

• **Mid- to Large-Capitalization Companies Risk.** The market prices of companies at different capitalization levels may go up or down due to general market conditions and cycles. The value of your investment will be affected by the Fund's exposure to mid- and large-cap companies. Compared to large companies, mid-size companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss.

• **Small-Capitalization Companies Risk.** Compared to large and mid-capitalization companies, small-capitalization companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market

------

conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss.<br>

• **Foreign Investing Risk.** Investments in foreign regions or in securities of issuers with significant exposure to foreign markets may be more volatile and less liquid than U.S. investments due to adverse political, social, and economic developments, such as nationalization or expropriation of assets, imposition of currency controls or restrictions, investment and repatriation restrictions, confiscatory taxation, tariffs, trade disputes, armed conflict, sanctions or other government actions against nations, individuals or companies (or their countermeasures), terrorism, arbitrary application of laws and regulations or lack of rule of law, and political or financial instability; regulatory differences such as accounting, auditing, and financial reporting and recordkeeping standards and practices; weather or climate events; natural disasters; and the degree of government oversight and supervision. Investors in foreign countries often have limited rights and few practical remedies to pursue shareholder claims. Less information may be publicly available regarding foreign issuers. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging market countries.

• **Geographic Focus Risk.** To the extent that the Fund invests from time to time a significant portion of its assets in issuers organized or located in a particular country or geographic region, the Fund may be particularly affected by adverse securities markets, exchange rates and social, political, regulatory or economic events which may occur in those countries or regions, as well as by the spread of infectious illness or other public health issues, weather or climate events, natural disasters, armed conflict and market disruptions caused by tariffs, trade disputes, sanctions or other government actions affecting those countries or regions.

• **Currency Risk.** Fluctuations between the U.S. dollar and foreign currency exchange rates could negatively affect the value of the Fund's investments. This fluctuation can affect both the value of the currencies in which the Fund's investments are traded or an active investment position. The Fund will benefit when foreign currencies strengthen against the dollar and will be hurt when foreign currencies weaken against the dollar. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of U.S. and foreign governments or central banks, the imposition of currency controls or restrictions, speculation, and the spread of infectious illness or other public health issues. Devaluation of a currency by a country's government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

------

• **Issuer Focus Risk**. The Fund may invest in fewer than fifty issuers, and as a result, the Fund's performance may be more volatile than the performance of funds holding more securities.

• **Market Sector Risk.** The Fund may hold a large percentage of securities in a particular market sector. To the extent the Fund holds a large percentage of securities in a particular sector, its performance will be tied closely to, and affected by, the performance of that sector, and the Fund will be subject to a greater degree to any market price movements, regulatory or technological change, economic conditions, the spread of infectious illness or other public health issues, or other developments or risks affecting such market sector than a Fund without the same focus.

**-** **Industrials Sector Risk.** Securities in the industrials sector, such as companies engaged in the production, distribution or service of products or equipment for manufacturing, agriculture, forestry, mining and construction, can be significantly affected by general economic trends, including such factors as employment and economic growth, interest rate changes, changes in consumer spending, legislative and governmental regulation and spending, import controls, commodity prices, litigation, liability for environmental damage and product liability claims, trading and tariff arrangements, trade disruptions, commodity prices and availability, exchange rates and worldwide competition. The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand related to their specific products or services and industrials sector products in general. The products of manufacturing companies may face obsolescence due to rapid technological developments and frequent new product introduction.

**-** **Information Technology Sector Risk.** Information technology companies face intense competition and potentially rapid obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of, or inability to enforce, such rights.

**-** **Financials Sector Risk.** Issuers in the financials sector, such as banks, insurance companies and broker-dealers, may be sensitive to changes in interest rates, credit rating downgrades, decreased liquidity in credit markets, and general economic activity and are generally subject to extensive government regulation.

**-** **Health Care Sector Risk.** Securities in the health care sector, such as health care supplies, health care services, biotechnology and pharmaceuticals, may be significantly affected by government regulation and reimbursement rates, approval of products by government agencies, increases or decreases in the cost of medical products, services, and patient care, shortages of skilled personnel and increased personnel costs, and product liability claims, among other factors. Many health care companies are heavily dependent on patent protection, and the expiration of a company's patent may adversely affect that company's profitability. Health care companies

------

are subject to competitive forces that may result in price discounting, and may be thinly capitalized and susceptible to product obsolescence.

**-** **Consumer Discretionary Sector Risk.** Securities in the consumer discretionary sector, such as consumer durables, hotels, restaurants, media, retailing and automobiles, may be significantly affected by the performance of domestic and international economies, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes.

• **Valuation Risk.** The sales price the Fund could receive for any particular portfolio investment may differ from the Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets or that are valued using a fair value methodology. These differences may increase significantly and affect Fund investments more broadly during periods of market volatility. Investors who purchase or redeem Fund shares on days when the Fund is holding fair valued securities may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the Fund had not fair-valued securities or had used a different valuation methodology. The ability to value the Fund's investments may be impacted by technological issues and/or errors by pricing services or other third-party service providers. The valuation of the Fund's investments involves subjective judgment, which may prove to be incorrect.

• **Redemption Risk.** The Fund may experience heavy redemptions that could cause it to liquidate its assets at inopportune times or at a loss or depressed value or accelerate taxable gains or transaction costs, which could cause the value of your investment to decline.

• **Cybersecurity Risk.** Like other funds and business enterprises, the Fund, the Adviser and their service providers are subject to the risk of cyber incidents occurring from time to time. Cybersecurity incidents, whether intentionally caused by third parties or otherwise, may allow an unauthorized party to gain access to Fund assets, Fund or customer data (including private shareholder information) or proprietary information, cause the Fund, the Adviser and/or their service providers (including, but not limited to, the Subadviser, fund accountants, custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality, or prevent Fund investors from purchasing, redeeming or exchanging shares, receiving distributions or receiving timely information regarding the Fund or their investment in the Fund. The Fund and the Adviser have limited ability to prevent or mitigate cybersecurity incidents affecting third party service providers, and such third party service providers may have limited indemnification obligations to the Fund and the Adviser. Cybersecurity incidents may result in financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent or mitigate any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these

------

securities could decline if the issuers experience cybersecurity incidents. New ways to carry out cyber attacks continue to develop. There is a chance that some risks have not been identified or prepared for, or that an attack may not be detected, which puts limitations on the Fund's ability to plan for or respond to a cyber attack.<br>

These and other risks are discussed in more detail later in this prospectus or in the SAI. Please note that there are many other factors that could adversely affect your investment and that could prevent the Fund from achieving its goals.

**Investment results:** The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for Investor shares and by showing how the Fund's average annual total returns for the 1 year and since inception period, as applicable, compare with those of the Morgan Stanley Capital International World Equal Weighted Net Total Return USD (MSCI World EQ WTD NR) Index, a broad measure of market performance. The returns for each class of the Fund will differ from Investor shares because of the different expenses applicable to those share classes.

Updated information on the Fund's investment results can be obtained by visiting *domini.com/performance* or by calling 1-800-582-6757.

*The Fund's past results (before and after taxes) are not necessarily an indication of how the Fund will perform in the future.*![LOGO](g806602g02a01.jpg)

Highest/lowest quarterly results during this time period were: 11.49% (quarter ended 12/31/2023) and –21.00% (quarter ended 6/30/2022). The Fund's year-to-date results as of the most recent calendar quarter ended 09/30/2025 were 10.06%.

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** |
|  | **1 Year** | **Since**<br> **Inception**<br> **(4/1/2020)** |
| &nbsp;&nbsp;&nbsp; Domini Sustainable Solutions Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investor shares: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return before taxes | 10.04% | 11.85% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions | 10.04% | 11.32% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions and sale of shares | 5.95% | 9.35% |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional shares return before taxes | 10.28% | 12.12% |
| &nbsp;&nbsp;&nbsp; MSCI World Equal Weighted NR Index <br>(reflects no deduction for fees, expenses, or taxes except foreign withholding taxes on reinvested dividends) | 7.68% | 12.84% |

---

After-tax returns are shown only for Investor shares; after-tax returns for other share classes will vary. After-tax returns are calculated using the highest individual marginal federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as a 401(k) plan or individual retirement account (IRA).

#### Investment management:
**Investment adviser:** Domini Impact Investments LLC ("Domini" or the "Adviser").

**Portfolio managers:** Amy Domini Thornton, Chair and Co-Manager of Domini (portfolio manager of the Fund since April 1, 2020); Carole M. Laible, CEO and Co-Manager of Domini (portfolio manager of the Fund since April 1, 2020); and Maria Llerena, CFA, Director of Financial Research of Domini (portfolio manager of the Fund since November 30, 2025)..

**Subadviser:** SSGA Funds Management, Inc. ("SSGA FM" or the "Subadviser").

**Portfolio managers:** Michael Finocchi, Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team (portfolio manager of the Fund since April 1, 2020).

Kathleen Morgan, CFA, Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team (portfolio manager of the Fund since November 30, 2024).

For important information about purchase and sale of Fund shares, tax information, and financial intermediary compensation, please turn to "Purchase and Sale of Fund Shares, Tax Information and Payments to Broker-Dealers and Other Financial Intermediaries" on page 47 of the prospectus.

------

DOMINI IMPACT INTERNATIONAL EQUITY FUND<sup>SM</sup>

**Investment objective:** The Fund seeks to provide its shareholders with long-term total return.

**Fees and expenses of the Fund:** The table below describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** If you invest in Institutional or Class Y shares of the Fund through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** | **Class Y** |
| &nbsp;&nbsp;&nbsp; Paper document delivery fee<br>(choose e-delivery to avoid this fee)<sup>1</sup> | $15/year | $15/year | $15/year |
| &nbsp;&nbsp;&nbsp; Outgoing bank wire transfer fee<br>(deducted directly from sale proceeds) | $15/transfer | $15/transfer | $15/transfer |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** | **Class Y** |
| &nbsp;&nbsp;&nbsp; Management fees | 0.83% | 0.83% | 0.83% |
| &nbsp;&nbsp;&nbsp; Distribution (12b-1) fees | 0.25% |  |  |
| &nbsp;&nbsp;&nbsp; Other expenses | 0.20% | 0.14% | 0.22% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses | 1.28% | 0.97% | 1.05% |

---

---

| | |
|:---|:---|
| 1 | Paper document delivery fee applies to direct Fund accounts with balances below $10,000 and may be avoided by choosing e-delivery of Fund statements, prospectuses, and reports. |

---

#### Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, that your investment has a 5% return each year, and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Share classes**<br> (whether or not shares are redeemed) | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Investor | $130 | $406 | $702 | $1545 |
| &nbsp;&nbsp;&nbsp; Institutional | $99 | $309 | $536 | $1190 |
| &nbsp;&nbsp;&nbsp; Class Y | $107 | $334 | $579 | $1283 |

---

------

**Portfolio turnover:** The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund's performance but are already reflected in its total returns. During the most recent fiscal year, the Fund's turnover rate was 80% of the average value of its portfolio.

**Principal investment strategies:** The Fund may invest in equity securities of companies of any market capitalization. Under normal circumstances, the Fund primarily invests in mid- and large-capitalization companies located in Europe, the Asia-Pacific region, and throughout the rest of the world. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) will be invested in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights, and preferred shares.

Under normal circumstances, the Fund's investments will be tied economically to at least 10 different countries other than the U.S. and at least 40% of the Fund's assets will be invested in companies tied economically to countries outside the U.S. The Fund will primarily invest in companies tied economically to developed market countries throughout the world, but may invest up to 10% of its assets in securities of issuers tied economically to emerging market countries.

Securities of foreign issuers may be purchased directly or through depositary receipts, including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs), or other securities representing underlying shares of foreign companies.

The Fund may have significant exposure to securities of issuers tied economically to Japan, the U.K., and Germany. The Fund may invest in securities denominated in major reserve currencies, such as the yen, pound sterling, euro, and U.S. dollar, and currencies of other countries in which it can invest. To the extent that the Fund has significant exposure to securities of companies tied economically to a particular country or countries (including Japan, the U.K., and Germany), it generally will have corresponding exposure to the currency of such countries (including the yen, pound sterling, and euro). The Fund also may have significant exposure to securities of issuers in the financials, industrials, health care, consumer discretionary, and information technology.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). The Adviser identifies securities that are eligible for investment by the Fund based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key

------

stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors").

Wellington Management Company LLP (the "Subadviser"), the Fund's subadviser uses a proprietary quantitative model to select investments to buy and sell from among those which the Adviser has notified the Subadviser are eligible for investment, seeking to build the most attractive portfolio by purchasing the most attractive stocks (as determined by the Subadviser's model) and selling the least attractive stocks (as determined by the Subadviser's model). The Fund also will sell securities that the Adviser determines are no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors.

**Principal risks:** Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly in the short and long term. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You may lose all or part of your investment in the Fund or your investment may not perform as well as other similar investments. There is no guarantee that the Fund's investment objective will be achieved. The following is a summary description of certain risks of investing in the Fund. Each risk summarized below is a principal risk of investing in the Fund and different risks may be more significant at different times depending on market conditions or other factors.

• **Foreign Investing and Emerging Markets Risk.** Investments in foreign regions or in securities of issuers with significant exposure to foreign markets may be more volatile and less liquid than U.S. investments due to adverse political, social, and economic developments, such as nationalization or expropriation of assets, imposition of currency controls or restrictions, investment and repatriation restrictions, confiscatory taxation, tariffs, trade disputes, armed conflict, sanctions or other government actions against nations, individuals or companies (or their countermeasures), terrorism, arbitrary application of laws and regulations or lack of rule of law, and political or financial instability; regulatory differences, such as accounting, auditing, and financial reporting and recordkeeping standards and practices; weather or climate events; natural disasters; and the degree of government oversight and supervision. Investors in foreign countries often have limited rights and few practical remedies to pursue shareholder claims. Less information may be publicly available regarding foreign issuers. These risks may be more pronounced in connection with the Fund's investments in securities of issuers located in emerging market countries.

• **Geographic Focus Risk.** The Fund will be largely invested in companies based in Europe or the Asia-Pacific region. Market changes or other factors affecting these regions, including political instability, unpredictable economic conditions, exchange rates and social, regulatory or other events, as well as the spread of infectious illness or other public

------

health issues, weather or climate events, natural disasters, armed conflict and market disruptions caused by tariffs, trade disputes, sanctions or other government actions, could have a significant impact on the Fund due to its regional focus.

• **Country Risk.** The Fund expects to diversify its investments among issuers with exposure to various countries throughout the world. To the extent that the Fund invests from time to time a significant percentage of its assets in issuers tied economically to a particular country or countries, including Japan, the U.K., and Germany, the Fund may be particularly affected by the economic, political, regulatory, security, and social conditions in that country, as well as by the spread of infectious illness or other public health issues.

**Investing in Japan.** The Japanese economy is highly dependent upon international trade, particularly with the U.S. and other Asian countries. Because of its trade dependence, the Japanese economy is particularly exposed to the risks of currency fluctuation, foreign trade policy and regional and global economic disruption. The Japanese economic growth rate could be impacted by Bank of Japan monetary policies, rising interest rates, tax increases, budget deficits, consumer confidence and volatility in the Japanese yen. Strained foreign relations with neighboring countries (China, South Korea, North Korea and Russia) may not only negatively impact the Japanese economy but also the geographic region as well as globally. Economic growth in Japan is heavily dependent on continued growth in international trade, government support of the financial services sector, among other troubled sectors, and consistent government policy. In addition, the Japanese economy has been adversely affected by certain structural issues, including an aging population, an unstable financials sector, substantial government deficits, and natural and environmental disasters.<br>

**Investing in the United Kingdom.** The U.K. has one of the largest economies in Europe, and the U.S. and other European countries are substantial trading partners of the U.K. As a result, the U.K.'s economy may be impacted by changes to the economic condition of the U.S., China, and other European countries. The U.K.'s economy will also be significantly affected by the U.K.'s exit from the European Union (commonly known as "Brexit"). The U.K. has officially left the European Union (EU). The U.K. and EU have reached an agreement on the terms of their future trading relationship, which principally relates to the trading of goods rather than services, including financial services. Notwithstanding this agreement, uncertainty remains in the market regarding the ramifications of the U.K.'s withdrawal from the EU. The impact on the U.K. and European economies and the broader global economy could be significant, resulting in increased volatility and illiquidity, currency fluctuations, impacts on arrangements for trading and on other existing cross-border cooperation arrangements, and in<br>

------

potentially lower growth for companies in the U.K., Europe and globally, which could have an adverse effect on the value of the Fund's investments.

**Investing in Germany.** Germany has an industrial and export dependent economy and therefore relies heavily on trade with key trading partners, including the Netherlands, China, the U.S., the U.K., France, Italy, and other European countries. Reduction in spending on German products and services, or changes in any of the economies may have an adverse impact on the German economy. In addition, heavy regulation of labor, energy and product markets in Germany may have an adverse impact on German issuers. Such regulations may negatively impact economic growth or cause prolonged periods of recession. Ongoing concerns in relation to the economic health of the EU continue to constrain the economic resilience of certain EU member states, including Germany.<br>

• **Currency Risk.** Fluctuations between the U.S. dollar and foreign currency exchange rates could negatively affect the value of the Fund's investments. This fluctuation can affect both the value of the currencies in which the Fund's investments are traded or an active investment position. The Fund will benefit when foreign currencies, including the yen, the pound sterling, and euro, strengthen against the dollar and will be hurt when foreign currencies weaken against the dollar. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of U.S. and foreign governments or central banks, the imposition of currency controls or restrictions, speculation, and the spread of infectious illness or other public health issues. Devaluation of a currency by a country's government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.

• **Impact Investing Risk.** The Adviser's evaluation of environmental and social factors in its investment selections, and the timing and amount of the Subadviser's implementation of the Adviser's investment selections will affect the Fund's exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities including investments in certain market sectors that are available to funds that do not consider environmental and social factors in their investment selections.

• **Portfolio Management Risk.** The value of your investment may decrease if the Adviser's or Subadviser's judgment about the attractiveness or value of, or market trends affecting a particular security, industry, sector or region, or about market movements, or the timing or amount of an investment decision, is incorrect or does not produce the desired results. In addition, the Adviser's or Subadviser's investment process or approach

------

may change from time to time. Those changes may not lead to the results intended by the Adviser or Subadviser and could have an adverse effect on the value or performance of the Fund.

• **Quantitative Investment Approach Risk.** The value of your investment may decrease if the Subadviser's quantitative investment approach does not respond well to current market conditions or its judgment regarding the quality, value, or market trends affecting a particular security, industry, sector, or region is incorrect. The Subadviser's quantitative model relies upon a complex software system, and failure of the system to function or the presence of software, data or other errors, or if the model or data is incorrect or incomplete, could have an adverse impact on the value of Fund performance.

• **Information Risk.** There is a risk that information used by the Adviser to evaluate an investment, including environmental and social factors, may not be readily available, complete, or accurate, which could negatively impact the Adviser's ability to evaluate such information and negatively impact Fund performance. This may also lead the Fund to avoid investment in certain issuers, industries, markets, sectors, or regions.

• **Market Risk.** The market values of securities or other assets will fluctuate, sometimes sharply and unpredictably, due to changes in general market conditions, overall economic trends or events, governmental actions or intervention, actions taken by the U.S. Federal Reserve or foreign central banks, market disruptions caused by trade disputes, labor strikes or other factors, political developments, armed conflicts, economic sanctions and countermeasures in response to sanctions, major cybersecurity events, political instability, recessions, inflation, changes in interest or currency rates, the global and domestic effects of widespread or local health, weather or climate events, armed conflict, market disruptions caused by tariffs, trade disputes, sanctions or other government actions, or other factors or adverse investor sentiment that may or may not be related to the issuer of the security or other asset. Economies and financial markets throughout the world are increasingly interconnected. Economic, financial or political events, trading or tariff arrangements, public health events, terrorism, wars, natural disasters and other circumstances in one country or region could have profound impacts on other countries or regions and on global economies or markets. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries or markets directly affected, the value and liquidity of the Fund's investments may be negatively affected. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East have caused and could continue to cause significant market disruptions and volatility. The hostilities and sanctions resulting from those hostilities have and could continue to have a significant impact on certain Fund investments as well as Fund performance and liquidity. Following Russia's invasion of Ukraine in 2022, Russian stocks lost all, or nearly all, of their market value. Other securities or markets could be similarly affected by past or future geopolitical or other events or

------

conditions. Furthermore, events involving limited liquidity, defaults, nonperformance or other adverse developments that affect one industry, such as the financial services industry, or concerns or rumors about any events of these kinds, have in the past and may in the future lead to market-wide liquidity problems, may spread to other industries, and could negatively affect the value and liquidity of the Fund's investments. If the market values of the securities or other assets held by the Fund fall, including a complete loss on any individual security, the value of your investment will go down. A change in financial condition or other event affecting a single issuer or market may adversely impact securities markets as a whole. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.<br>

Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the total amount that the U.S. government is authorized to borrow could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets in the U.S. and elsewhere. Recently, inflation and interest rates have been volatile and may increase in the future. These circumstances could adversely affect the value and liquidity of the Fund's investments, impair the Fund's ability to satisfy redemption requests, and negatively impact the Fund's performance.

The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. The U.S. government has prohibited U.S. persons, such as the Fund, from investing in Chinese companies designated as related to the Chinese military. These and possible future restrictions could limit the Fund's opportunities for investment and require the sale of securities at a loss or make them illiquid. Moreover, China's long-running conflict over Taiwan's sovereignty, other disputes with many neighbors and historically strained relations with other Asian countries could result in military conflict. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China enters into military conflict with Taiwan, the Philippines or another neighbor, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund's assets may go down.

• **Equity Securities Risk.** The stock markets are volatile and the market prices of equity securities held by the Fund may go up or down, sometimes rapidly or unpredictably. Equity securities may have greater price volatility than other asset classes, such as fixed income securities. If

------

the market prices of the equity securities owned by the Fund fall, the value of your investment in the Fund will decline. If the Fund holds equity securities in a company that becomes insolvent, the Fund's interests in the company will be subordinated to the interests of debtholders and general creditors of the company, and the Fund may lose its entire investment.<br>

• **Mid- to Large-Capitalization Companies Risk.** The market prices of companies at different capitalization levels may go up or down due to general market conditions and cycles. The value of your investment will be affected by the Fund's exposure to mid- and large-capitalization companies. Compared to large companies, mid-size companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss.

• **Market Sector Risk.** The Fund may hold a large percentage of securities in a particular market sector. To the extent the Fund holds a large percentage of securities in a particular sector, its performance will be tied closely to and affected by the performance of that sector, and the Fund will be subject to a greater degree to any market price movements, regulatory or technological change, economic conditions, the spread of infectious illness or other public health issues, or other developments or risks affecting such market sector than a Fund without the same focus.

**-** **Financials Sector Risk.** Issuers in the financials sector, such as banks, insurance companies and broker-dealers, may be sensitive to changes in interest rates, credit rating downgrades, decreased liquidity in credit markets, and general economic activity and are generally subject to extensive government regulation.

**-** **Health Care Sector Risk.** Securities in the health care sector, such as health care supplies, health care services, biotechnology and pharmaceuticals, may be significantly affected by government regulation and reimbursement rates, approval of products by government agencies, increases or decreases in the cost of medical products, services, and patient care, shortages of skilled personnel and increased personnel costs, and product liability claims, among other factors. Many health care companies are heavily dependent on patent protection, and the expiration of a company's patent may adversely affect that company's profitability. Health care companies are subject to competitive forces that may result in price discounting, and may be thinly capitalized and susceptible to product obsolescence.

------

**-** **Industrials Sector Risk.** Securities in the industrials sector, such as companies engaged in the production, distribution or service of products or equipment for manufacturing, agriculture, forestry, mining and construction, can be significantly affected by general economic trends, including such factors as employment and economic growth, interest rate changes, changes in consumer spending, legislative and governmental regulation and spending, import controls, litigation, liability for environmental damage and product liability claims, trading and tariff arrangements, trade disruptions, commodity prices and availability, exchange rates and worldwide competition. The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand related to their specific products or services and industrials sector products in general. The products of manufacturing companies may face obsolescence due to rapid technological developments and frequent new product introduction. 

**-** **Consumer Discretionary Sector Risk.** Securities in the consumer discretionary sector, such as consumer durables, hotels, restaurants, media, retailing and automobiles, may be significantly affected by the performance of domestic and international economies, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes.

**-** **Information Technology Sector Risk.** Information technology companies face intense competition and potentially rapid obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of, or inability to enforce, such rights.

• **Portfolio Turnover Risk.** If the Fund does a lot of trading it may incur additional operating expenses which would reduce performance and could cause shareowners to incur a higher level of taxable income or capital gains.

• **Valuation Risk.** Nearly all of the Fund's securities are valued using a fair value methodology. The sales price the Fund could receive for any particular portfolio investment may differ from the Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets. These differences may increase significantly and affect Fund investments more broadly during periods of market volatility. Investors who purchase or redeem Fund shares may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the Fund had not fair-valued securities or had used a different valuation methodology. The ability to value the Fund's investments may be impacted by technological issues and/or errors by pricing services or other third-party service providers. The valuation of the Fund's investments involves subjective judgment, which may prove to be incorrect.

------

• **Redemption Risk.** The Fund may experience heavy redemptions that could cause it to liquidate its assets at inopportune times or at a loss or depressed value or accelerate taxable gains or transaction costs, which could cause the value of your investment to decline.

• **Cybersecurity Risk.** Like other funds and business enterprises, the Fund, the Adviser and their service providers are subject to the risk of cyber incidents occurring from time to time. Cybersecurity incidents, whether intentionally caused by third parties or otherwise, may allow an unauthorized party to gain access to Fund assets, Fund or customer data (including private shareholder information) or proprietary information, cause the Fund, the Adviser and/or their service providers (including, but not limited to, the Subadviser, fund accountants, custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality, or prevent Fund investors from purchasing, redeeming or exchanging shares, receiving distributions or receiving timely information regarding the Fund or their investment in the Fund. The Fund and the Adviser have limited ability to prevent or mitigate cybersecurity incidents affecting third party service providers, and such third party service providers may have limited indemnification obligations to the Fund and the Adviser. Cybersecurity incidents may result in financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent or mitigate any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers experience cybersecurity incidents. New ways to carry out cyber attacks continue to develop. There is a chance that some risks have not been identified or prepared for, or that an attack may not be detected, which puts limitations on the Fund's ability to plan for or respond to a cyber attack.

These and other risks are discussed in more detail later in this prospectus or in the SAI. Please note that there are many other factors that could adversely affect your investment and that could prevent the Fund from achieving its goals.

------

**Investment results:** The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for Investor shares and by showing how the Fund's average annual total returns for 1, 5, and 10 years, compare with those of a broad measure of market performance, the Morgan Stanley Capital International Europe, Australasia, and Far East Net Total Return USD (MSCI EAFE NR) Index. The returns for each class of the Fund will differ from Investor shares because of the different expenses applicable to those share classes. The returns presented in the table for periods prior to the inception of the Class Y shares are those of the Investor shares. Class Y shares commenced operations on July 23, 2018.These returns have not been adjusted to take into account the lower expenses applicable to Class Y shares.

Updated information on the Fund's investment results can be obtained by visiting *domini.com/performance* or by calling 1-800-582-6757.

*The Fund's past results (before and after taxes) are not necessarily an indication of how the Fund will perform in the future.*![LOGO](g806602g03a03.jpg)

Highest/Lowest quarterly results during this time period were: 15.56% (quarter ended 12/31/2022) and –24.97% (quarter ended 3/31/2020). The Fund's year-to-date results as of the most recent calendar quarter ended 09/30/2025 were 24.33%.

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** |
|  | **1 Year** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Domini Impact International Equity Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investor Shares: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return before taxes | 8.26% | 4.01% | 4.52% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions | 7.59% | 3.79% | 4.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions and sale of shares | 5.51% | 3.28% | 3.71% |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional Shares return before taxes | 8.62% | 4.44% | 4.94% |
| &nbsp;&nbsp;&nbsp;&nbsp; Class Y shares return before taxes | 8.62% | 4.39% | 4.74% |
| &nbsp;&nbsp;&nbsp; MSCI EAFE NR Index <br>(reflects no deduction for fees, expenses, or taxes except foreign withholding taxes on reinvested dividends) | 3.82% | 4.73% | 5.20% |

---

After-tax returns are shown only for Investor shares; after-tax returns for other share classes will vary. After-tax returns are calculated using the highest individual marginal federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as a 401(k) plan or individual retirement account (IRA).

#### Investment management:
**Investment adviser:** Domini Impact Investments LLC ("Domini" or the "Adviser").

**Subadviser:** Wellington Management Company LLP ("Wellington Management" or the "Subadviser").

**Portfolio managers:** Christopher Grohe, CFA, Senior Managing Director, Director of the Quantitative Investments Group of Wellington Management (portfolio manager of the Fund since November 2021 and an investment professional with Wellington Management since 2002).

Mark Yarger, CFA, Managing Director and Associate Director of Portfolio Management, Quantitative Investment Group of Wellington Management (portfolio manager of the Fund since February 2024 and an investment professional with Wellington Management since 2000).

For important information about purchase and sale of Fund shares, tax information, and financial intermediary compensation, please turn to "Purchase and Sale of Fund Shares, Tax Information, and Payments to Broker-Dealers and Other Financial Intermediaries" on page 47 of the prospectus.

------

DOMINI IMPACT BOND FUND<sup>SM</sup>

**Investment objective:** The Fund seeks to provide its shareholders with a high level of current income and total return.

**Fees and expenses of the Fund:** The table below describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.** If you invest in Institutional or Class Y shares of the Fund through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) | &nbsp;&nbsp;&nbsp; **Shareholder fees** (paid directly from your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** | **Class Y** |
| &nbsp;&nbsp;&nbsp; Paper document delivery fee (choose e-delivery to avoid this fee)<sup>1</sup> | $15/year | $15/year | $15/year |
| &nbsp;&nbsp;&nbsp; Outgoing bank wire transfer fee (deducted directly from sale proceeds) | $15/transfer | $15/transfer | $15/transfer |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) | &nbsp;&nbsp;&nbsp; **Annual Fund operating expenses**<br> (expenses that you pay each year as a percentage of the value of your investment) |
| &nbsp;&nbsp;&nbsp;**Share classes** | **Investor** | **Institutional** | **Class Y** |
| &nbsp;&nbsp;&nbsp; Management fees | 0.32% | 0.32% | 0.32% |
| &nbsp;&nbsp;&nbsp; Distribution (12b-1) fees | 0.25% |  |  |
| &nbsp;&nbsp;&nbsp; Other expenses |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Administrative services fee | 0.25% | 0.25% | 0.25% |
| &nbsp;&nbsp;&nbsp;&nbsp; Other miscellaneous expenses | 0.32% | 0.15% | 0.31% |
| &nbsp;&nbsp;&nbsp;&nbsp; Total other expenses | 0.57% | 0.40% | 0.56% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses | 1.14% | 0.72% | 0.88% |
| &nbsp;&nbsp;&nbsp; Fee waivers and expense reimbursements<sup>2</sup> | -0.27% | -0.15% | -0.23% |
| &nbsp;&nbsp;&nbsp; Total annual Fund operating expenses after fee waivers and expense reimbursements | 0.87% | 0.57% | 0.65% |

---

---

| | |
|:---|:---|
| 1 | Paper document delivery fee applies to direct Fund accounts with balances below $10,000 and may be avoided by choosing e-delivery of Fund statements, prospectuses, and reports. |

---

---

| | |
|:---|:---|
| 2 | The Fund's Adviser has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Investor, Institutional, and Class Y share expenses to 0.87%, 0.57%, and 0.65%, respectively. These expense limitations are in effect through November 30, 2026. There can be no assurance that the Adviser will extend the expense limitations beyond such time. While in effect, the arrangement may be terminated for a class only by agreement of the Adviser and the Fund's Board of Trustees. |

---

------

#### Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated, that your investment has a 5% return each year, and that the Fund's operating expenses (reflecting applicable contractual fee waivers and expense reimbursement arrangements) remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Share classes**<br>(whether or not shares are redeemed) | **1 Year** | **3 Years** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Investor | $89 | $335 | $602 | $1362 |
| &nbsp;&nbsp;&nbsp; Institutional | $58 | $215 | $386 | $880 |
| &nbsp;&nbsp;&nbsp; Class Y | $66 | $258 | $465 | $1063 |

---

**Portfolio turnover:** The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual Fund operating expenses or in the example, affect the Fund's performance but are already reflected in its total returns. During the most recent fiscal year, the Fund's portfolio turnover rate was 194% of the average value of its portfolio.

**Principal investment strategies:** Under normal circumstances, the Fund invests at least 80% of its assets in investment-grade securities and maintains an effective duration within two years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg U.S. Aggregate Bond Index as calculated by Wellington Management Company LLP (the "Subadviser"), the Fund's subadviser. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) will be invested in bonds, including government and corporate bonds, mortgage-backed and asset-backed securities, non-U.S. dollar denominated bonds, and U.S. dollar denominated bonds issued by non-U.S. entities. The Fund's investments in bonds also may include floating and variable rate loans, and municipal securities. A significant portion of the Fund's assets may be invested in securities issued by government-sponsored entities such as Freddie Mac, Fannie Mae, and the Federal Home Loan Banks. A significant portion of the Fund's assets may also be invested in "to be announced" securities, including mortgage dollar roll, when-issued, delayed delivery and forward commitment securities. A "to be announced" transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount, and price at the time the contract is entered into but the mortgage-backed securities are delivered in the future, generally 30 days later. The Fund generally has a high rate of portfolio turnover as a consequence of investing in "to be announced" securities. The Fund may invest up to 20% of its net assets in below investment grade debt securities (sometimes referred to as "junk bonds") or, if unrated, of equivalent credit quality as determined by the Subadviser. The Fund may invest in privately issued mortgage-backed and

------

asset-backed securities. The Fund may invest in securities that are in default and illiquid securities. The Fund's investments may change significantly from time to time based on current market conditions and investment eligibility determinations.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). The Adviser identifies securities that are eligible for investment by the Fund based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors").

The Subadviser uses proprietary fundamental research to select investments to buy and sell from among those which the Adviser has notified the Subadviser are eligible for investment, based upon an identification of structural, cyclical, and opportunistic themes, as well as individual sector and security characteristics. The Fund also will sell securities that the Adviser determines are no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors.

**Principal risks:** Risk is inherent in all investing. The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly in the short and long term. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You may lose all or part of your investment in the Fund or your investment may not perform as well as other similar investments. There is no guarantee that the Fund's investment objective will be achieved. The following is a summary description of certain risks of investing in the Fund. Each risk summarized below is a principal risk of investing in the Fund and different risks may be more significant at different times depending on market conditions or other factors.

• **Impact Investing Risk.** The Adviser's evaluation of environmental and social factors in its investment selections, and the timing and amount of the Subadviser's implementation of the Adviser's investment selections, will affect the Fund's exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities including investments in certain market sectors that are available to funds that do not consider environmental and social factors in their investment selections.

• **Portfolio Management Risk**. The value of your investment may decrease if the Adviser's or Subadviser's judgment about the attractiveness or value of, or market trends affecting a particular security, industry, sector or region, or about market movements, or the timing or amount of an

------

investment decision, is incorrect or does not produce the desired results. In addition, the Adviser's or Subadviser's investment process or approach may change from time to time. Those changes may not lead to the results intended by the Adviser or Subadviser and could have an adverse effect on the value or performance of the Fund.<br>

• **Style Risk.** The value of your investment may decrease if the Subadviser's investment strategy does not respond well to current market conditions or its judgment regarding the quality, value, or market trends affecting a particular security, industry, sector or region is incorrect.

• **Information Risk.** There is a risk that information used by the Adviser to evaluate an investment, including environmental and social factors, may not be readily available, complete, or accurate, which could negatively impact the Adviser's ability to evaluate such information and negatively impact Fund performance. This may also lead the Fund to avoid investment in certain issuers, industries, markets, sectors, or regions.

• **Market Risk.** The market values of securities or other assets will fluctuate, sometimes sharply and unpredictably, due to changes in general market conditions, overall economic trends or events, governmental actions or intervention, actions taken by the U.S. Federal Reserve or foreign central banks, market disruptions caused by trade disputes, labor strikes or other factors, political developments, armed conflicts, economic sanctions and countermeasures in response to sanctions, major cybersecurity events, political instability, recessions, inflation, changes in interest or currency rates, the global and domestic effects of widespread or local health, weather or climate events, armed conflict, market disruptions caused by tariffs, trade disputes, sanctions or other government actions, or other factors or adverse investor sentiment that may or may not be related to the issuer of the security or other asset. Economies and financial markets throughout the world are increasingly interconnected. Economic, financial or political events, trading or tariff arrangements, public health events, terrorism, wars, natural disasters and other circumstances in one country or region could have profound impacts on other countries or regions and on global economies or markets. As a result, whether or not the Fund invests in securities of issuers located in or with significant exposure to the countries or markets directly affected, the value and liquidity of the Fund's investments may be negatively affected. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East have caused and could continue to cause significant market disruptions and volatility. The hostilities and sanctions resulting from those hostilities have and could continue to have a significant impact on certain Fund investments as well as Fund performance and liquidity. Following Russia's invasion of Ukraine in 2022, Russian stocks lost all, or nearly all, of their market value. Other securities or markets could be similarly affected by past or future geopolitical or other events or conditions. Furthermore, events involving limited liquidity, defaults, nonperformance or other adverse developments that affect one industry, such as the financial services industry, or concerns or rumors about any

------

events of these kinds, have in the past and may in the future lead to market-wide liquidity problems, may spread to other industries, and could negatively affect the value and liquidity of the Fund's investments. If the market values of the securities or other assets held by the Fund fall, including a complete loss on any individual security, the value of your investment will go down. Economies and financial markets throughout the world are increasingly interconnected. A change in financial condition or other event affecting a single issuer or market may adversely impact securities markets as a whole. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.<br>

Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the total amount that the U.S. government is authorized to borrow could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets in the U.S. and elsewhere. Recently, inflation and interest rates have been volatile and may increase in the future. These circumstances could adversely affect the value and liquidity of the Fund's investments, impair the Fund's ability to satisfy redemption requests, and negatively impact the Fund's performance.

The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. The U.S. government has prohibited U.S. persons, such as the Fund, from investing in Chinese companies designated as related to the Chinese military. These and possible future restrictions could limit the Fund's opportunities for investment and require the sale of securities at a loss or make them illiquid. Moreover, China's long-running conflict over Taiwan's sovereignty, other disputes with many neighbors and historically strained relations with other Asian countries could result in military conflict. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China enters into military conflict with Taiwan, the Philippines or another neighbor, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund's assets may go down.

• **Interest Rate Risk.** The value of your investment will generally go down when interest rates rise. A rise in rates tends to have a greater impact on the prices of longer term or duration securities. A general rise in interest rates may cause investors to move out of fixed income securities on a large scale, which could adversely affect the price and liquidity of fixed income securities and could also result in increased redemptions from the Fund. Recently, there have been inflationary price movements. As a

------

result, fixed income securities markets may experience heightened levels of interest rate volatility and liquidity risk. The U.S. government and the U.S. Federal Reserve, as well as certain foreign governments and central banks, have from time to time taken steps to support financial markets. The U.S. government and the U.S. Federal Reserve may, conversely, reduce market support activities, including by taking action intended to increase certain interest rates. This and other government intervention may not work as intended, particularly if the efforts are perceived by investors as being unlikely to achieve the desired results. Changes in government activities in this regard, such as changes in interest rate policy, can negatively affect financial markets generally, increase market volatility and reduce the value and liquidity of securities in which the Fund invests.<br>

The maturity of a security may be significantly longer than its duration. A security's maturity and other features may be more relevant than its duration in determining the security's sensitivity to other factors affecting the issuer or markets generally such as changes in credit quality or in the yield premium that the market may establish for certain types of securities. Calculations of maturity and duration may be based on estimates and may not reliably predict a security's price sensitivity to changes in interest rates.

• **Credit Risk.** Fixed-income securities are subject to credit risk. Credit risk is the possibility that an issuer or guarantor of a security held by the Fund or a counterparty to a financial contract with the Fund will fail to make timely payments of interest or principal or go bankrupt, has its credit rating downgraded or is perceived to be less creditworthy, or if the credit quality or value of any underlying assets declines, in which case the value of your investment will typically decline. Changes in actual or perceived creditworthiness may occur quickly. The Fund could be delayed or hindered in its enforcement of rights against an issuer, guarantor or counterparty. The lower the ratings of such debt securities, the greater their risks. In addition, lower-rated securities have higher risk characteristics, and changes in economic conditions are likely to cause issuers of these securities to be unable to meet their obligations. Below investment grade securities (sometimes referred to as "junk bonds") involve greater risk of default or downgrade and are more volatile than investment grade securities. Below investment grade securities may also be less liquid than higher-quality securities.

• **Prepayment and Extension Risk.** Many issuers have a right to prepay their securities. Issuers may be more likely to prepay their securities if interest rates fall. If this happens, the Fund will not benefit from the rise in market price that normally accompanies a decline in interest rates and will be forced to reinvest prepayment proceeds at a time when yields on securities available in the market are lower than the yield on prepaid securities. The Fund also may lose any premium it paid on the security. When interest rates rise, repayments of fixed-income securities, particularly asset-backed securities, may occur more slowly than anticipated, extending the effective duration of these fixed income

------

securities at below market interest rates and causing their market prices to decline more than they would have declined due to the rise in interest rates alone.

• **Liquidity Risk.** The Fund may make investments that are illiquid or that become illiquid after purchase. The liquidity and value of investments can deteriorate rapidly, and they may become difficult to purchase or sell, or may be illiquid, particularly during times of market turmoil. Illiquid securities also may be difficult to value. Liquidity risk may be magnified in an environment of rising interest rates or widening credit spreads. Markets may become illiquid when, for instance, there are few, if any, interested buyers or sellers or when dealers are unwilling or unable to make markets for certain securities. During times of market turmoil, there have been, and may be, no buyers or sellers for securities in entire asset classes. Due to limitations on investments in illiquid securities, the Fund may be unable to achieve its desired level of exposure to certain sectors. If the Fund is forced to sell an illiquid investment to meet redemption requests or other cash needs, the Fund may be forced to sell such securities at a substantial loss or may not be able to sell at all.

• **Mortgage-Related and Asset-Backed Securities Risk.** The value of mortgage-related and asset-backed securities will be influenced by factors affecting the real estate market and the assets underlying such securities. As a result, during periods of declining asset value, difficult or frozen credit markets, swings in interest rates, or deteriorating economic conditions, mortgage-related and asset-backed securities may decline in value, face valuation difficulties, become more volatile and/or become illiquid. Mortgage-backed securities tend to be more sensitive to changes in interest rates than other types of debt securities. These securities are also subject to interest rate, prepayment and extension risks. Prepayment risk is generally lower with respect to delegated underwriting and servicing ("DUS") bonds issued with prepayment penalties that help protect an investor in case of voluntary repayment by the underlying borrower. Some of these securities may receive little or no collateral protection from the underlying assets and are thus subject to the risk of default. The risk of such defaults is generally higher in the case of mortgage-backed investments offered by non-governmental issuers and those that include so-called "sub-prime" mortgages. The structure of some of these securities may be complex and there may be less available information than for other types of debt securities. Upon the occurrence of certain triggering events or defaults, the Fund may become the holder of underlying assets at a time when those assets may be difficult to sell or may be sold only at a loss.

• **Floating and Variable Rate Loans Risk.** Floating rate loans and similar investments may be volatile, illiquid or less liquid than other investments and difficult to value. The value of loan collateral can decline, be difficult to liquidate, or insufficient to meet the issuer's obligations. To the extent that sale proceeds of loans are not available, the Fund may sell securities that have shorter settlement periods or may access other sources of liquidity to meet redemption requests.

------

• **Government-Sponsored Entities Risk.** The Fund's investments in securities issued by government-sponsored entities such as Fannie Mae, Freddie Mac, and the Federal Home Loan Bank are not guaranteed or insured by the U.S. government and may decline in value.

• **Risks Relating to Investments in Municipal Securities.** Municipal issuers may be adversely affected by rising health care costs, increasing unfunded pension liabilities, and by the phasing out of federal programs providing financial support. Unfavorable conditions and developments relating to projects financed with municipal securities can result in lower revenues to issuers of municipal securities, potentially resulting in defaults. The value of municipal securities can also be adversely affected by changes in the financial condition of one or more individual municipal issuers or insurers of municipal issuers, regulatory and political developments, tax law changes or other legislative actions, and by uncertainties and public perceptions concerning these and other factors. In recent years, an increasing number of municipal issuers have defaulted on obligations, been downgraded or commenced insolvency proceedings. Financial difficulties of municipal issuers may continue or get worse, particularly in the event of political, economic or market turmoil or a recession.

• **Mortgage Dollar Roll Transactions Risk.** The benefits to the Fund from mortgage dollar roll transactions depend upon the Subadviser's ability to forecast mortgage prepayment patterns on different mortgage pools. The Fund may lose money if, during the period between the time it agrees to the forward purchase of the mortgage securities and the settlement date, these securities decline in value due to market conditions or prepayments on the underlying mortgages.

• **To Be Announced (TBA) Securities Risk.** TBA securities involve the risk that the security the Fund buys will lose value prior to its delivery. There also is the risk that the security will not be issued or that the other party to the transaction will not meet its obligation. If this occurs, the Fund could lose both the investment opportunity for the assets it set aside to pay for the security and any gain in the security's price.

• **Foreign Investing Risk.** Investments in foreign regions may be more volatile and less liquid than U.S. investments due to adverse political, social, and economic developments, such as nationalization or expropriation of assets, imposition of currency controls or restrictions, investment and repatriation restrictions, confiscatory taxation, military conflicts and sanctions, terrorism, arbitrary application of laws and regulations or lack of rule of law, terrorism and political or financial instability; regulatory differences, such as accounting, auditing, and financial reporting standards and practices; natural disasters; and the degree of government oversight and supervision. Less information may be publicly available regarding foreign issuers.

• **Currency Risk.** Fluctuations between the U.S. dollar and foreign currency exchange rates could negatively affect the value of the Fund's investments. This fluctuation can affect both the value of the currencies in which the Fund's investments are traded or an active investment

------

position. The Fund will benefit when foreign currencies strengthen against the dollar and will be hurt when foreign currencies weaken against the dollar. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of U.S. and foreign governments or central banks, the imposition of currency controls or restrictions, speculation, and the spread of infectious illness or other public health issues. Devaluation of a currency by a country's government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments and may increase the volatility of the Fund.<br>

• **Market Sector Risk.** The Fund may hold a large percentage of securities in a particular market sector. To the extent the Fund holds a large percentage of securities in a particular sector, its performance will be tied closely to and affected by the performance of that sector, and the Fund will be subject to a greater degree to any market price movements, regulatory or technological change, economic conditions, the spread of infectious illness or other public health issues, or other developments or risks affecting such market sector than a Fund without the same focus.

**-** **Financials Sector Risk.** Issuers in the financials sector, such as banks, insurance companies and broker-dealers, may be sensitive to changes in interest rates, credit rating downgrades, decreased liquidity in credit markets, and general economic activity and are generally subject to extensive government regulation.

• **Portfolio Turnover Risk.** If the Fund does a lot of trading it may incur additional operating expenses which would reduce performance and could cause shareowners to incur a higher level of taxable income or capital gains. In addition, investment in mortgage dollar rolls and participation in to-be-announced ("TBA") transactions may significantly increase the Fund's portfolio turnover rate.

• **Valuation Risk.** Nearly all of the Fund's securities are valued using a fair value methodology. The sales price the Fund could receive for any particular portfolio investment may differ from the Fund's valuation of the investment, particularly for securities that trade in thin or volatile markets. These differences may increase significantly and affect Fund investments more broadly during periods of market volatility. Investors who purchase or redeem Fund shares may receive fewer or more shares or lower or higher redemption proceeds than they would have received if the Fund had not fair-valued securities or had used a different valuation methodology. The ability to value the Fund's investments may be impacted by technological issues and/or errors by pricing services or other third-party service providers. The valuation of the Fund's investments involves subjective judgment, which may prove to be incorrect.

• **Redemption Risk.** The Fund may experience heavy redemptions that could cause it to liquidate its assets at inopportune times or at a loss or

------

depressed value or accelerate taxable gains or transaction costs, which could cause the value of your investment to decline.

• **Cybersecurity Risk.** Like other funds and business enterprises, the Fund, the Adviser and their service providers are subject to the risk of cyber incidents occurring from time to time. Cybersecurity incidents, whether intentionally caused by third parties or otherwise, may allow an unauthorized party to gain access to Fund assets, Fund or customer data (including private shareholder information) or proprietary information, cause the Fund, the Adviser and/or their service providers (including, but not limited to, the Subadviser, fund accountants, custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality, or prevent Fund investors from purchasing, redeeming or exchanging shares, receiving distributions or receiving timely information regarding the Fund or their investment in the Fund. The Fund and the Adviser have limited ability to prevent or mitigate cybersecurity incidents affecting third party service providers, and such third party service providers may have limited indemnification obligations to the Fund and the Adviser. Cybersecurity incidents may result in financial losses to the Fund and its shareholders, and substantial costs may be incurred in order to prevent or mitigate any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers experience cybersecurity incidents. New ways to carry out cyber attacks continue to develop. There is a chance that some risks have not been identified or prepared for, or that an attack may not be detected, which puts limitations on the Fund's ability to plan for or respond to a cyber attack.

These and other risks are discussed in more detail later in this prospectus or in the SAI. Please note that there are many other factors that could adversely affect your investment and that could prevent the Fund from achieving its goals.

------

**Investment results:** The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year for Investor shares and by showing how the Fund's average annual total returns for 1, 5, and 10 years compare with those of a broad measure of market performance, the Bloomberg U.S. Aggregate Bond Index. Wellington Management commenced submanagement services for the Fund on January 7, 2015. A different subadviser served as the Fund's subadviser for periods prior to January 6, 2015. The returns for each class of the Fund will differ from Investor shares because of the different expenses applicable to those share classes. The returns presented in the table for periods prior to the inception of the Class Y shares are those of the Investor shares. Class Y shares commenced operations on June 1, 2021. These returns have not been adjusted to take into account the lower expenses applicable to Class Y shares.

Updated information on the Fund's investment results can be obtained by visiting *domini.com/performance* and by calling 1-800-582-6757.

*The Fund's past results (before and after taxes) are not necessarily an indication of how the Fund will perform in the future.*![LOGO](g806602g04a04.jpg)

Highest/lowest quarterly results during this time period were: 7.03% (quarter ended 12/31/2023) and –6.54% (quarter ended 3/31/2022). The Fund's year-to-date results as of the most recent calendar quarter ended 09/30/2025 were 5.36%.

------

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** | &nbsp;&nbsp;&nbsp; **Average annual total returns for periods ended December 31, 2024** |
|  | **1 Year** | **5 Years** | **10 Years** |
| &nbsp;&nbsp;&nbsp; Domini Impact Bond Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investor shares: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return before taxes | 1.73% | 0.03% | 1.48% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions | 0.44% | -1.16% | 0.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Return after taxes on distributions and sale of shares | 1.02% | -0.43% | 0.68% |
| &nbsp;&nbsp;&nbsp;&nbsp; Institutional shares return before taxes | 2.02% | 0.33% | 1.77% |
| &nbsp;&nbsp;&nbsp;&nbsp; Class Y shares return before taxes | 1.95% | 0.19% | 1.56% |
| &nbsp;&nbsp;&nbsp; Bloomberg U.S. Aggregate Bond Index <br>(reflects no deduction for fees, expenses, or taxes) | 1.25% | -0.33% | 1.35% |

---

After-tax returns are shown only for Investor shares; after-tax returns for other share classes will vary. After-tax returns are calculated using the highest individual marginal federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above. In addition, after-tax returns are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as a 401(k) plan or individual retirement account (IRA).

#### Investment management:
**Investment adviser:** Domini Impact Investments LLC ("Domini" or the "Adviser")

**Subadviser:** Wellington Management Company LLP ("Wellington Management" or the "Subadviser")

**Portfolio managers:** Campe Goodman, CFA, Senior Managing Director, and Fixed Income Portfolio Manager of Wellington Management (portfolio manager of the Fund since January 7, 2015).

Samuel Epee-Bounya, Senior Managing Director and Portfolio Manager on the Broad Markets Team of Wellington Management (portfolio manager of the Fund since November 30, 2024) and an investment professional with Wellington Management since 2010.

Robert D. Burn, CFA, Senior Managing Director and Fixed Income Portfolio Manager on the Broad Markets Team of Wellington Management (portfolio manager of the Fund since November 30, 2024) and an investment professional with Wellington Management since 2007.

For important information about purchase and sale of Fund shares, tax information, and financial intermediary compensation, please turn to "Purchase and Sale of Fund Shares, Tax Information and Payments to Broker-Dealers and Other Financial Intermediaries" on page 47 of the prospectus.

------

PURCHASE AND SALE OF FUND SHARES, TAX INFORMATION, AND PAYMENTS TO BROKER-DEALERS, AND OTHER FINANCIAL INTERMEDIARIES

**Purchase and Sale of Fund Shares.** You may redeem shares of the Funds each day the New York Stock Exchange (NYSE) is open. You should contact your financial intermediary or service organization, or if you hold your shares directly, you should contact the Fund by phone (Shareholder Services at 800-582-6757 for Investor and Institutional shares), by mail (Domini Funds, P.O. Box 46707, Cincinnati, OH, 45246-0707), or online at

*domini.com/manage-account*.

The Funds' initial investment minimums for eligible shareholders generally are as follows:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Initial Investment minimum** | **Share classes** | **Share classes** | **Share classes** |
| &nbsp;&nbsp;&nbsp; **Initial Investment minimum** | **Investor**<br> **(DSEFX/**<br> **CAREX/**<br> **DOMIX/**<br> **DSBFX)** | **Institutional**<br> **(DIEQX/**<br> **LIFEX/**<br> **DOMOX/**<br> **DSBIX)** | **Class Y**<br> **(DSFRX/**<br> **DOMYX/**<br> **DSBYX)** |
| &nbsp;&nbsp;&nbsp; Individual and Joint Accounts (nonretirement) | $2500 | $500000 |  |
| &nbsp;&nbsp;&nbsp; Retirement Accounts (e.g., IRA, SEP-IRA, SIMPLE IRA) | $1500 | $500000 |  |
| &nbsp;&nbsp;&nbsp; Uniform Gifts/Transfers to Minor Accounts (UGMA/ UTMA); Coverdell Education Savings Accounts | $1500 | $500000 |  |
| &nbsp;&nbsp;&nbsp; Accounts for Organizations (e.g.,401k, trust, corporation, partnership, foundation, endowment, or other entity) | $2500 | $500000 |  |

---

However, the initial investment minimum is $1500 for Investor share purchases through Automatic Investment Plans. Minimums may be waived for purchases through certain omnibus accounts or may be at a different level established by your broker-dealer, financial institution, or financial intermediary.

**Tax information.** The Funds' distributions are generally taxable, and will be taxed as ordinary income, qualified dividend income, or capital gains, unless you are investing through a tax-deferred arrangement, such as a 401(k) plan or an individual retirement account. Withdrawal of monies from those accounts may be subject to tax. For additional information, please see "Taxes" in the Shareholder Manual and "Taxation" in the Statement of Additional Information.

**Payments to broker-dealers and other financial intermediaries.** The Fund and its related companies may pay broker-dealers or other financial intermediaries (such as a bank) for the sale of Fund shares and related services. These payments create a conflict of interest by influencing your broker-dealer or other intermediary or its employees or associated persons to recommend the Fund over another investment. Ask your financial adviser or visit your financial intermediary's website for more information.

------

MORE ON THE FUNDS' INVESTMENT OBJECTIVES AND STRATEGIES

#### Investment Objectives
Each Fund's investment objective may be changed by the Fund's Board of Trustees without shareholder approval, but shareholders will be given notice at least 30 days before any change to the investment objective is implemented. Management currently has no intention to change any Fund's investment objective.

#### Investment Strategies
Each Fund's investment strategies and policies may be changed from time to time without shareholder approval, unless specifically stated otherwise in this Prospectus or in the SAI.

DOMINI IMPACT EQUITY FUND

The investment objective of the Domini Impact Equity Fund (the Fund) is to provide its shareholders with long-term total return. Total return is comprised of current income and capital appreciation.

As a primary strategy, under normal circumstances the Fund invests at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. The Fund will provide shareholders with at least 60 days' prior written notice if it changes this 80% policy. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights, and preferred shares.

The Fund may invest in companies of any capitalization, but under normal market conditions will invest primarily in mid- to large-capitalization U.S. companies. Domini defines mid- and large-capitalization companies to be those with a market capitalization at the time of purchase between $2 and $10 billion, or greater than $10 billion, respectively. It is expected that at least 80% of the Fund's assets will be invested in mid- to large-capitalization companies under normal market conditions.

As a primary strategy, under normal circumstances the Fund invests in stocks of U.S. companies. While Domini expects that most of the securities held by the Fund will be traded in U.S. securities markets, as an additional strategy, the Fund may hold up to 15% of its assets in issuers tied economically to countries outside the U.S.

A security will be deemed to be tied economically to a country if: (1) the issuer is organized under the laws of, or has a principal place of business in that country; or (2) the principal listing of the issuer's securities is in a market that is in that country; or (3) the issuer derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in that country; or (4) the issuer has at least 50% of its assets located in that country.

------

The Fund may have significant exposure to securities of issuers in the information technology, financials, consumer discretionary, and health care sectors.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). All of the investment selections made by the Adviser are based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors"). See "Investment Process" below.

The Fund may, but is not required, to invest in companies that, in addition to being evaluated by the Adviser on environmental and social factors, also demonstrate a commitment to sustainability solutions. The Adviser will consider a company to demonstrate a commitment to sustainability solutions if the Adviser determines, based on its analysis, that the company provides, invests in or creates products or services that seek to help:

• **Accelerate the transition to a low-carbon future**, including through renewable energy, distributed generation, off-grid solutions, energy storage, electric vehicles, energy management solutions, energy-efficient technologies, or related financial services;

• **Contribute to the development of sustainable and resilient communities**, including through energy-efficient transportation systems, affordable and/or resilient housing, sustainable infrastructure solutions, green buildings and materials, or related real estate investments;

• **Promote a circular economy with sustainable production and consumption,** including through efficient usage of natural resources, products using recycled or recyclable materials, products with longer life cycles, or solutions for product life cycle extension;

• **Provide access to clean water**, including through water infrastructure, affordable water services, water treatment solutions, plumbing and flow-control equipment, or water harvesting or conservation solutions;

• **Support more sustainable food and agricultural systems**, including through production or access to healthy, organic, plant-based, and/or fair-trade food, resource-efficient agriculture, support for small-scale farming, or the reduction of food waste;

• **Promote societal health and well-being**, including through vaccines or other preventative health care solutions, diagnostics, medicines, innovative medical equipment or technologies, or solutions related to consumer health, nutrition, fitness or safety;

• **Broaden financial inclusion and/or promote sustainable finance**, including through improvement of, or access to, capital, banking, insurance, investment, or other financial products or services; or

------

• **Bridge the digital divide and/or support sustainable information and communication systems**, including through access to information and communication technologies/services, education, training, or job placement, communications or network infrastructure, cybersecurity solutions, or related enterprise technology solutions.

For a company that demonstrates a commitment to sustainability solutions, the Adviser also conducts financial analysis to help evaluate the strength of its long-term investment potential. Depending on each company's size, maturity, profitability, and business model, the Adviser may consider various financial criteria, such as its balance sheet structure, earnings growth, dividend yield, cash burn, capital availability, or market potential. The Adviser may also seek to evaluate the quality of management, business focus, and potential risks and catalysts for such companies.

A security will be sold if the Adviser determines that the company is no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors, financial criteria, and/or the company no longer demonstrates a commitment to sustainability solutions, as applicable.

DOMINI SUSTAINABLE SOLUTIONS FUND

The investment objective of the Domini Sustainable Solutions Fund (the Fund) is to provide its shareholders with long-term total return. Total return is comprised of current income and capital appreciation.

As a primary strategy, under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in securities of companies that demonstrate a commitment to sustainability solutions. The Fund will provide shareholders with at least 60 days prior written notice if it changes this 80% policy.

The Fund may invest in equity securities issued by companies of any market capitalization located throughout the world, including the U.S. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights and preferred shares. Securities of foreign issuers may be purchased directly or through depositary receipts, including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs), or other securities representing underlying shares of foreign companies. The Fund may invest in fewer than fifty securities.

Investment selections are not constrained by benchmark weightings in any regions, countries, or sectors. The Fund may have significant exposure to securities of issuers in the industrials, information technology, financials, health care, and consumer discretionary sectors. In addition, because the Fund is unconstrained to any benchmark, these exposures may change over time. The Fund may have significant exposure to any region, country or sector at any time.

------

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). All of the investment selections made by the Adviser are based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors"). See "Investment Process" below.

For purposes of the Fund's 80% policy, a company demonstrates a commitment to sustainability solutions if the Adviser determines, based on its analysis, that the company provides, invests in or creates products or services that seek to help:

• **Accelerate the transition to a low-carbon future**, including through renewable energy, distributed generation, off-grid solutions, energy storage, electric vehicles, energy management solutions, energy-efficient technologies, or related financial services;

• **Contribute to the development of sustainable and resilient communities**, including through energy-efficient transportation systems, affordable and/or resilient housing, sustainable infrastructure solutions, green buildings and materials, or related real estate investments;

• **Promote a circular economy with sustainable production and consumption,** including through efficient usage of natural resources, products using recycled or recyclable materials, products with longer life cycles, or solutions for product life cycle extension;

• **Provide access to clean water**, including through water infrastructure, affordable water services, water treatment solutions, plumbing and flow-control equipment, or water harvesting or conservation solutions;

• **Support more sustainable food and agricultural systems**, including through production or access to healthy, organic, plant-based, and/or fair-trade food, resource-efficient agriculture, support for small-scale farming, or the reduction of food waste;

• **Promote societal health and well-being**, including through vaccines or other preventative health care solutions, diagnostics, medicines, innovative medical equipment or technologies, or solutions related to consumer health, nutrition, fitness or safety;

• **Broaden financial inclusion and/or promote sustainable finance**, including through improvement of, or access to, capital, banking, insurance, investment, or other financial products or services; or

• **Bridge the digital divide and/or support sustainable information and communication systems**, including through access to information and

------

communication technologies/services, education, training, or job placement, communications or network infrastructure, cybersecurity solutions, or related enterprise technology solutions.

For a company that demonstrates a commitment to sustainability solutions, the Adviser also conducts financial analysis to help evaluate the strength of its long-term investment potential. Depending on each company's size, maturity, profitability, and business model, the Adviser may consider various financial criteria, such as its balance sheet structure, earnings growth, dividend yield, cash burn, capital availability, or market potential. The Adviser also seeks to evaluate the quality of management, business focus, and potential risks and catalysts for such companies.

A security will be sold if the Adviser determines that the company is no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors, financial criteria, and/or the company no longer demonstrates a commitment to sustainability solutions, as applicable.

DOMINI IMPACT INTERNATIONAL EQUITY FUND

The investment objective of the Domini Impact International Equity Fund (the Fund) is to provide shareholders with long-term total return. Total return is comprised of current income and capital appreciation.

As a primary strategy, under normal circumstances the Fund invests at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. The Fund will provide shareholders with at least 60 days' prior written notice if it changes this 80% policy. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights, and preferred shares.

The Fund may invest in companies of any market capitalization located in Europe, the Asia-Pacific region, and throughout the rest of the world. Under normal market conditions the Fund primarily invests in mid- to large-capitalization companies tied economically to Europe, the Asia-Pacific region, and throughout the rest of the world. Domini defines mid- and large-capitalization companies to be those with a market capitalization at the time of purchase between $2 and $10 billion, or greater than $10 billion, respectively. It is expected that at least 80% of the Fund's assets will be invested in mid- to large-capitalization companies under normal market conditions.

Under normal circumstances, the Fund's investments will be tied economically to at least 10 different countries other than the U.S. and at least 40% of the Fund's assets will be invested in companies tied economically to countries outside the U.S. The Fund will primarily invest in companies tied economically to developed market countries throughout the world. As an additional strategy, the Fund may invest up to 10% of its assets in securities of issuers tied economically to emerging market countries.

------

A security will be deemed to be tied economically to a particular country if: (1) the issuer is organized under the laws of, or has a principal place of business in that country or emerging market; or (2) the principal listing of the issuer's securities is in a market that is in that country or emerging market; or (3) the issuer derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in that country or emerging market; or (4) the issuer has at least 50% of its assets located in that country or emerging market. Emerging market countries generally will include, but not be limited to, countries included in the Morgan Stanley Capital International (MSCI) Emerging Markets Index.

Securities of foreign issuers may be purchased directly or through depositary receipts, including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs), or other securities representing underlying shares of foreign companies.

The Fund may have significant exposure to securities of issuers tied economically to Japan, the U.K., and Germany. The Fund may invest in securities denominated in major reserve currencies, such as the yen, pound sterling, euro, and U.S. dollar, and currencies of other countries in which it can invest. To the extent that the Fund has significant exposure to securities of companies tied economically to a particular country or countries (including Japan, the U.K., and Germany), it generally will have corresponding exposure to the currency of such countries (including the yen, pound sterling, and euro). The Fund also may have significant exposure to securities of companies in the financials, industrials, health care, consumer discretionary, and information technology sectors.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). All securities identified as eligible for investment by the Adviser are selected based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors"). See "Investment Process" below.

DOMINI IMPACT BOND FUND

The investment objective of the Domini Impact Bond Fund (the Fund) is to provide its shareholders with a high level of current income and total return. Total return is comprised of current income and capital appreciation.

As a primary strategy, under normal circumstances, the Fund invests at least 80% of its assets in investment-grade securities and maintains an effective duration within two years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg U.S. Aggregate Bond Index as calculated by Wellington Management Company LLP (the "Subadviser"), the Fund's subadviser, which as of October 1, 2025, was 6.04 years. The longer a portfolio's duration, the more sensitive it will be to changes in interest rates.

------

For example, if the Fund has a five-year duration, then all other things being equal, the Fund will decrease in value by five percent if interest rates rise one percent.

As a primary strategy, under normal circumstances, the Fund invests at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) in bonds, including government and corporate bonds, mortgage-backed and asset-backed securities, non-U.S. dollar denominated bonds, and U.S. dollar-denominated bonds issued by non-U.S. entities. The Fund will provide shareholders with at least 60 days' prior notice if it changes this 80% policy. The Fund's investments in bonds also may include floating and variable rate loans, and municipal securities. A significant portion of the Fund's assets may be invested in securities issued by government-sponsored entities such as Freddie Mac, Fannie Mae, and the Federal Home Loan Banks. A significant portion of the Fund's assets may also be invested in "to be announced" securities, including mortgage dollar roll, when-issued, delayed delivery and forward commitment securities. A "to be announced" transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount, and price at the time the contract is entered into, but the mortgage-backed securities are delivered in the future, generally 30 days later. The Fund generally has a high rate of portfolio turnover as a consequence of investing in "to be announced" securities.

The Fund may invest up to 20% of its net assets in below investment grade debt securities (sometimes referred to as "junk bonds") or, if unrated, of equivalent credit quality as determined by the Subadviser. The Fund may invest in privately issued mortgage-backed and asset-backed securities. The Fund may invest in securities that are in default and illiquid securities. The Fund's investments may change significantly from time to time based on current market conditions and investment eligibility determinations.

Domini Impact Investments LLC (the "Adviser"), the Fund's adviser, seeks to identify investment opportunities for the Fund that, in the Adviser's view, create positive environmental and social outcomes for people and the planet, while also seeking competitive financial returns ("Impact Investing"). All securities identified as eligible for investment by the Adviser are selected based on the evaluation of environmental and social factors, including the core business in which a company engages and/or how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors ("environmental and social factors"). See "Investment Process" below.

DOMINI IMPACT EQUITY FUND, DOMINI SUSTAINABLE SOLUTIONS FUND, DOMINI IMPACT INTERNATIONAL EQUITY FUND AND DOMINI IMPACT BOND FUND

#### Investment Process

#### Domini
The Adviser seeks to identify investment opportunities for each Fund that, in the Adviser's view, create positive environmental and social outcomes for

------

people and the planet, while also seeking competitive financial returns ("Impact Investing"). All of the investment and/or eligibility selections made by the Adviser are based on the evaluation of environmental and social factors ("environmental and social factors") (as discussed below). The Adviser's analysis generally includes studying the company, issuer or bond, its industry, products and services, and/or competitors, and with respect to companies that demonstrate a commitment to sustainability solutions as described above, financial criteria, and/or quality of a company's management practices. With respect to debt instruments, the Adviser may also seek to identify investments that may provide access to capital, creation of public goods, and/or fill capital gaps left by current financial practices.

The Adviser uses the following environmental and social factors in making Fund investment and eligibility selections:

• **Business Alignment.** The Adviser seeks to determine the degree to which a company's core business model or corporate debt instrument, as applicable, is aligned with the Adviser's fundamental goals of universal human dignity and ecological sustainability. The Adviser seeks to invest each Fund in the securities of companies that are aligned with the universal values of fairness, equality, justice, respect for human rights, and/or long-term environmental sustainability, including climate change mitigation and adaptation. Certain businesses, like manufacturing vaccines or distributing renewable energy, are fundamentally aligned with the Adviser's fundamental goals of universal human dignity and ecological sustainability.

With respect to noncorporate debt instruments the Adviser seeks to identify asset classes, issuers, or individual securities that, among other things, play a positive role with respect to community development or otherwise generate positive environmental or social impact, particularly when serving historically underserved communities. In general, the Adviser seeks to identify those debt instruments the Adviser believes will help to build strong communities, and in particular those that support affordable housing, education, health care, and climate change mitigation and adaptation. When non-corporate entities, including government agencies, states, counties, municipalities, educational institutions and/or hospitals, issue debt related to a specific project the Adviser may also evaluate the specific project's alignment with the Adviser's fundamental goals of universal human dignity and ecological sustainability.

The Adviser seeks to avoid investment in entities that it determines to be sufficiently involved with certain goods or services, based on factors such as percentage of revenue, magnitude of involvement, or ownership. These goods and services include, but may not be limited to, weapons and firearms, nuclear power, the operation of for-profit prisons and immigration detention centers, tobacco, alcohol, and gambling. The Adviser also typically avoids investment in major producers of synthetic pesticides and agricultural chemicals.

The Adviser also excludes investments in entities in the energy sector that the Adviser determines are substantially involved in coal or uranium

------

mining and oil and natural gas exploration and production, storage, transportation, refining, and related services. In addition, the Adviser excludes investments in electric utility companies that have either announced plans for new construction after the Paris Agreement was adopted in 2015 or that have over 50% installed capacity from coal-fired generation.

• **Stakeholder Relations.** The Adviser may also seek to assess a company's or issuer's relations with key stakeholders, such as the entity's customers, employees, suppliers, ecosystems, local, national, and global communities, and/or investors. In its evaluation, the Adviser seeks to identify entities that the Adviser believes, among other things:

- Enrich the ecosystems on which they depend;

- Contribute to their local, national, and global communities;

- Produce high-quality, safe, and useful products and services;

- Invest in the wellbeing and development of their employees;

- Strengthen the capabilities of their suppliers; and

- Communicate transparently with their investors.

The Adviser may limit a Fund's investment in certain geographic areas due to prevailing conditions that the Adviser believes affect the environmental and social performance of entities in those regions. In addition, the Adviser does not invest the Funds in U.S. Treasuries, the general obligation securities issued by the U.S. government. While the Adviser recognizes that these securities support many essential public goods, they may also help support the country's leadership position in the world's nuclear weapons arsenal.

The Adviser may determine that a company or issuer is eligible for investment by a Fund even when the entity's profile reflects a mixture of positive and negative environmental and social characteristics (for example, certain automobile or electric utility companies may have mixed degrees of business alignment). The Adviser recognizes that relationships with key stakeholders are complicated and that even the best of companies often run into problems. The Adviser's approach recognizes that an entity with a mixed record may still be effectively grappling with the important issues in its industry and may determine that an entity with a combination of controversies and strengths and weaknesses is eligible for investment. The Adviser will evaluate entities on a case-by-case basis, looking for what the Adviser believes are signs of improvement, positive trends, and the entity's overall environmental and social performance.

For the Domini Impact Equity Fund and Domini Sustainable Solutions Fund, the Adviser will notify the applicable Fund Subadviser to sell a security if the Adviser determines that an entity is no longer eligible for investment based on the Adviser's ongoing assessment of the Adviser's environmental and social factors, financial criteria, and/or no longer demonstrates a commitment to sustainability solutions, as applicable.

------

For Domini Impact International Equity Fund and Domini Impact Bond Fund, the Adviser will notify the applicable Fund Subadviser to sell a security if the Adviser determines that a company or issuer is no longer eligible for investment based on the Adviser's ongoing assessment of the Adviser's environmental and social factors.

There may be a delay in removing a security from a Fund's portfolio after such a determination. The determination to remove a security from a Fund's portfolio and the timing of implementation of such a determination may result in a Fund having to sell a security when it might be disadvantageous to do so.

The Adviser's evaluation of environmental and social factors, and the Adviser's evaluation of whether an issuer demonstrates a commitment to sustainability solutions, as applicable, is subjective and may evolve over time.

At the Adviser's discretion, a portion of the International Equity Fund's portfolio may be invested in companies that, based solely on the Adviser's evaluation, are consistent with the environmental and social factors discussed above or support shareholder advocacy initiatives without reference to the Subadviser's investment process.

At the Adviser's discretion, a portion of the Bond Fund's portfolio may be invested in mortgages, loans or pools of loans issued by community development banks, credit unions, non-profit community development organizations, government agencies or instrumentalities and government-sponsored entities. In addition, it may place deposits or make loans with such organizations, or community loan funds, or make investments in, other debt or equity instruments issued by these or similar organizations that seek a positive environmental or social impact. Such investments are not subject to the Subadviser's investment process. These investments may not be insured by the FDIC and may earn below-market rates of return. Some of these investments may be in unrated or lower-rated securities that carry a higher degree of risk than the Fund's investment-grade securities. Some of these investments may be illiquid but are subject to the Fund's limit on illiquid securities (which is 15% of the Fund's net assets).

**Engagement.** When appropriate, as determined by the Adviser, the Adviser may engage in dialogue with the management of companies or issuers encouraging them to address the environmental and social impacts of their operations. The Adviser may seek to raise issues of environmental and social performance with the management of certain companies through proxy voting, dialogue with management, and/or by filing shareholder proposals on behalf of a Fund, where appropriate. Such efforts may not produce the desired outcomes. In foreign regions, including European and Asia-Pacific countries, various barriers, including regulatory systems, geography, and language, may impair the Adviser's ability to use its influence effectively. In particular, due to onerous regulatory barriers, the Adviser does not generally expect to file shareholder proposals outside the U.S.

------

#### Subadviser
With respect to the **Domini Impact Equity Fund**and **Domini Sustainable Solutions Fund**, SSGA Funds Management, Inc. (the "Subadviser"), the subadviser for the Equity Fund and Sustainable Solutions Fund, invests in securities the Adviser has selected and notified the Subadviser are to be included in the Fund's portfolio. The Subadviser will purchase or sell securities at a time determined appropriate by the Subadviser and in accordance with, but not necessarily in the identical amounts as provided with the Adviser's investment selections, or as necessary to manage the amount of a Fund's assets to be held in short term investments.

The Subadviser will seek to remove a security from a Fund's portfolio at a time determined appropriate by the Subadviser after notification from the Adviser that an investment in such security is no longer eligible for investment. Such notifications may cause a Fund to dispose of a security at a time when it may be disadvantageous to do so.

With respect to the **Domini Impact International Equity Fund**, Wellington Management Company LLP (the "Subadviser"), the International Equity Fund's subadviser, uses a proprietary quantitative model to select investments to buy and sell from among those which the Adviser has notified the Subadviser are eligible for investment. The portfolio construction process seeks to manage risk and ensure that the Fund's holdings and characteristics are consistent with the Fund's investment objective. The Subadviser's quantitative stock selection models determine a security's attractiveness by utilizing models with broad coverage of the investable equity universe. The models comprise multiple themes that may include valuation, momentum, earnings quality, and management behavior and capital deployment metrics. The weight or emphasis on each theme varies by industry, region and stock, depending on which themes are most effective predictors of return potential. The Subadviser integrates these return-based models with models of both risk and transactions costs, seeking to build the most attractive portfolio by purchasing the most attractive stocks (as determined by the Subadviser's models) and selling the least attractive stocks (as determined by the Subadviser's models) within reasonable turnover constraints. The Subadviser manages the Fund's portfolio sector weights relative to its performance benchmark, the MSCI EAFE NR.

Under normal circumstances, the Subadviser will seek to remove a security from the International Equity Fund's portfolio within 90 days after receiving a notification from the Adviser that an investment in such security is no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors. Such notifications may cause the Fund to dispose of a security at a time when it may be disadvantageous to do so.

With respect to the **Domini Impact Bond Fund**, Wellington Management Company LLP (the "Subadviser"), the Bond Fund's subadviser, uses proprietary fundamental research to select investments to buy and sell from among those which the Adviser has notified the Subadviser are eligible for investment. The Subadviser selects investments that it considers to be

------

Under normal circumstances, the Subadviser will seek to remove a security from the Bond Fund's portfolio within 90 days after receiving a notification from the Adviser that an investment in such security is no longer eligible for investment based on the Adviser's ongoing evaluation of environmental and social factors. Such notifications may cause the Fund to dispose of a security at a time when it may be disadvantageous to do so.

#### Common Debt Instruments and Investments
The following describes the most common types of bonds and other debt instruments and investments the **Domini Impact Bond Fund** will hold. Certain tactical investments may result in exposure to high-yield bonds, non-dollar bonds, and foreign market debt.

**Securities of U.S. Government Agencies and Instrumentalities** are bonds issued by government agencies and instrumentalities and government-sponsored entities. The Fund generally invests in securities related to a number of initiatives, including but not limited to housing, farming, and education. These investments represent loans to the issuing agency or instrumentality.

Please keep in mind that some securities issued by U.S. government agencies and instrumentalities may not be backed by the full faith and credit of the U.S. Treasury. The Fund currently invests a significant portion of its assets in securities issued by government-sponsored entities such as Freddie Mac, Fannie Mae, and the Federal Home Loan Banks. Although these entities were chartered or sponsored by Congress, they are not funded by the government, and the securities they issue are not guaranteed or insured by the U.S. government or the U.S. Treasury. Securities issued by these government-sponsored entities are backed by their respective issuers only. The U.S. government has provided financial support to Fannie Mae and Freddie Mac, but there can be no assurance that it will support these or other government-sponsored enterprises in the future.

The Fund does not currently intend to invest in direct obligations of the U.S. Treasury such as U.S. Treasury bills, notes, and bonds.

**State and Municipal Bonds** represent loans to a state or municipal government, or one of its agencies or instrumentalities.

------

**Corporate Debt Instruments (bonds, notes and debentures)** are securities representing a debt of a corporation. A debt security (IOU) is issued by a corporation in exchange for the money you lend it. As with other types of bonds, the issuer typically promises to repay the principal on a specific date and to make interest payments in the meantime. The amount of interest offered depends on market conditions and also on the financial health of the company issuing the bonds. For example, a company whose credit rating is weak will have to offer a higher interest rate to obtain buyers for its bonds. The Fund invests primarily in investment-grade corporate bonds, which are corporate bonds rated in one of the four highest rating categories by independent bond rating agencies, and those that the Fund's portfolio managers believe to be of comparable quality. The Fund may also invest up to 20% of its assets in below investment-grade securities.

**Mortgage-Backed and Asset-Backed Securities** represent interests in underlying pools of mortgages or consumer or commercial loans — most often home loans, or credit card, automobile, or trade receivables. The Fund may invest extensively in mortgage-backed and asset-backed securities, including delegated underwriting service bonds ("DUS" bonds) that provide funds for multi-family properties.

Because the mortgages and loans underlying mortgage-backed securities and asset-backed securities can generally be prepaid at any time by homeowners or consumer or corporate borrowers, these securities are particularly susceptible to prepayment and extension risks. Pre-payments on underlying mortgages and loans tend to increase when interest rates fall and decrease when interest rates rise. As a result, the prepayment and extension risks borne by the Fund in connection with mortgage and asset-backed securities, may be higher than those for a bond fund that does not invest in these types of securities. Prepayment risk is generally lower with respect to DUS bonds that are issued with prepayment penalties that may help protect investors in cases of voluntary prepayment by the underlying borrowers.

Mortgage-backed securities may be issued by private issuers, by government-sponsored entities such as the Federal National Mortgage Association (Fannie Mae) or Federal Home Loan Mortgage Corporation (Freddie Mac) or by agencies of the U.S. government, such as the Government National Mortgage Association (Ginnie Mae). Mortgage-backed securities represent direct or indirect participation in, or are collateralized by and payable from, mortgage loans secured by real property. Investments in mortgage-related securities may include mortgage derivatives and structured securities.

A collateralized mortgage obligation (CMOs) is a mortgage-backed bond that is issued in multiple classes, each with a specified fixed or floating interest rate and a final scheduled distribution date. The holder of an interest in a CMO is entitled to receive specified cash flows from a pool of underlying mortgages or other mortgage-backed securities. Depending upon the class of CMO purchased, the holder may be entitled to payment before the cash flow from the pool is used to pay holders of other classes of the CMO or, alternatively, the holder may be paid only to the extent that there is cash remaining after

------

the cash flow has been used to pay other classes. A subordinated interest may serve as a credit support for the senior securities purchased by other investors.

Ginnie Mae is a wholly owned government corporation that guarantees privately issued securities backed by pools of mortgages insured by the Federal Housing Administration, the Department of Veterans Affairs, and the Department of Agriculture under the Rural Housing Service Program. Ginnie Maes are guaranteed by the full faith and credit of the U.S. Treasury as to the timely payment of principal and interest. Freddie Mac and Fannie Mae are government-chartered, but shareholder-owned, corporations whose mandate is to enhance liquidity in the secondary mortgage markets. Freddie Macs and Fannie Maes are backed by their respective issuer only and are not guaranteed or insured by the U.S. government or the U.S. Treasury. Although the U.S. government has provided support to Freddie Mac and Fannie Mae, there can be no assurances that it will support these or other government-sponsored enterprises in the future. The Fund may also invest to a lesser extent in conventional mortgage securities, which are packaged by private entities, and are not guaranteed or insured by the U.S. government or the U.S. Treasury.

Asset-backed securities represent participations in, or are secured by and payable from, assets such as installment sales or loan contracts, leases, credit card receivables, and other categories of receivables. The Fund's investments in asset-backed securities may include derivative and structured securities.

Asset-backed securities may be issued by special entities, such as trusts, that are backed by a pool of financial assets. The Fund may invest in collateralized debt obligations (CDOs), which include collateralized bond obligations (CBOs), collateralized loan obligations (CLOs), and other similarly structured securities. A CDO is a trust backed by a pool of fixed income securities. The trust typically is split into two or more portions, called tranches, which vary in credit quality, yield, credit support and right to repayment of principal and interest. Lower tranches pay higher interest rates but represent lower degrees of credit quality and are more sensitive to the rate of defaults in the pool of obligations. Certain CDOs may use derivatives, such as credit default swaps, to create synthetic exposure to assets rather than holding such assets directly.

**International Dollar-Denominated Bonds** (or Yankee bonds) are bonds denominated in U.S. dollars issued by foreign governments and companies.

Because the bond's value is designated in dollars rather than the currency of the issuer's country, the investor is not exposed to currency risk. To the extent that the Fund owns bonds issued by foreign governments and companies, the Fund is subject to risks relating to political, social, and economic developments abroad.

**Zero Coupon Obligations.** The Fund may invest in obligations that do not pay current interest, known as "zero coupon" obligations. The prices of zero coupon obligations tend to be more volatile than those of securities that offer regular payments of interest. This makes the Fund's net asset value more volatile. Zero coupon obligations are more likely to respond to changes in interest rates than other securities that have similar maturities and credit quality and are more sensitive to the credit quality of the underlying issuer.

------

Unlike bonds that pay interest throughout the period to maturity, the Fund generally will realize no cash from a zero coupon obligation until maturity and, if the issuer defaults, the Fund may obtain no return at all on its investment. In order to pay cash distributions representing income on zero coupon obligations, the Fund may have to sell other securities on unfavorable terms. These sales may generate taxable gains for shareholders.

**Floating and Variable Rate Obligations.** The Fund may invest in obligations that pay interest at rates that change based on market interest rates, known as "floating" or "variable" rate obligations. Variable rate securities reset at specified intervals, while floating rate securities reset whenever there is a change in a specified interest rate. These securities tend to be highly sensitive to interest rate changes. Floating and variable rate obligations with interest rates that change based on a multiple of a market interest rate may have the effect of magnifying the Fund's gains or losses.

Commercial banks and other financial institutions or institutional investors make floating rate loans to companies that need capital to grow or restructure. Borrowers generally pay interest on these loans at rates that change in response to changes in market interest rates such as the London Interbank Offered Rate ("LIBOR") or the prime rates of U.S. banks. As a result, the value of loan investments is generally less exposed to the adverse effects of shifts in market interest rates than investments that pay a fixed rate of interest. However, because the trading market for certain loans may be less developed than the secondary market for bonds and notes, the Fund may experience difficulties in selling its loans. Leading financial institutions often act as agent for a broader group of lenders, generally referred to as a syndicate. The syndicate's agent arranges the loans, holds collateral and accepts payments of principal and interest. If the agent develops financial problems, the Fund may not recover its investment or recovery may be delayed. By investing in such a loan, the Fund may become a member of the syndicate.

**To Be Announced (TBA) Securities.** The Bond Fund may invest a significant portion of its assets in TBA securities, including mortgage dollar rolls, when-issued and delayed-delivery securities and forward commitments. The Fund is permitted to purchase or sell securities on a when-issued or delayed delivery basis. A "to be announced" transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount, and price at the time the contract is entered into but the mortgage-backed securities are delivered in the future, generally 30 days later.

When-issued or delayed-delivery transactions arise when securities are purchased or sold in accordance with trade parameters agreed upon at the time the contract is entered such as settlement date, par amount and price, but with payment and delivery taking place in the future in order to secure what is considered to be an advantageous price and yield at the time of entering into the transaction. The Fund may sell the securities before the settlement date if the portfolio manager deems it advisable. Distributions attributable to any gains realized on such a sale are taxable to shareholders.

------

**Debt Obligations of Non-U.S. Governments.** The Bond Fund may invest in all types of debt obligations of non-U.S. governments. An investment in debt obligations of non-U.S. governments and their political subdivisions (sovereign debt) involves special risks that are not present in corporate debt obligations. The non-U.S. issuer of the sovereign debt or the non-U.S. governmental authorities that control the repayment of the debt may delay, refuse or be unable or unwilling to repay principal or interest on its sovereign debt due to cash flow problems, insufficient foreign currency reserves, political considerations, the relative size of the governmental entity's debt position in relation to the economy or the failure to put in place economic reforms, and the Fund may have limited recourse in the event of a default. As a sovereign entity, the issuing government may be immune from lawsuits in the event of its failure or refusal to pay the obligations when due. During periods of economic uncertainty, the values of sovereign debt and of securities of issuers that purchase sovereign debt may be more volatile than prices of debt obligations of U.S. issuers. In the past, certain non-U.S. countries have encountered difficulties in servicing their debt obligations, withheld payments of principal and interest, declared moratoria on the payment of principal and interest on their sovereign debt, or restructured their debt to effectively eliminate portions of it, and similar occurrences may happen in the future. There is no bankruptcy proceeding by which sovereign debt on which governmental entities have defaulted may be collected in whole or in part. Sovereign debtors may also be dependent on disbursements or assistance from non-U.S. governments, multinational agencies and other entities to reduce principal and interest arrearages on their debt. Assistance may be dependent on a country's implementation of austerity measures and reforms, which measures may limit or be perceived to limit economic growth and recovery. The failure of a sovereign debtor to implement economic reforms, achieve specified levels of economic performance or repay principal or interest when due may result in the cancellation of third-party commitments to lend funds to the sovereign debtor, which may further impair such debtor's ability or willingness to service its debts.

OTHER FUND INVESTMENT STRATEGIES

In addition to the principal investment strategies discussed above, a Fund may also invest or engage in the following investments/strategies:

#### Use of Depositary Receipts
Securities of foreign issuers may be purchased by each Fund directly or through depositary receipts, including American Depositary Receipts (ADRs), European Depositary Receipts (EDRs), and Global Depositary Receipts (GDRs), or other securities representing underlying shares of foreign companies. Generally, ADRs, in registered form, are designed for use in U.S. securities markets, and EDRs and GDRs, in bearer form, are designed for use in European and global securities markets. ADRs are receipts typically issued by a U.S. bank or trust company evidencing ownership of the underlying securities. EDRs and GDRs are European and global receipts, respectively, evidencing a similar arrangement. The use of all such instruments is subject to

------

Domini's evaluation of environmental and social factors (see "Investment Process" above).

#### Use of Options, Futures, and Other Derivatives
Although it is not a principal investment strategy, each Fund may purchase and sell futures, options, swap agreements, currency forwards, and/or utilize other derivative contracts and securities with respect to stocks, bonds, groups of securities (such as financial indexes), foreign currencies, interest rates, or inflation indexes. A Fund may also utilize derivative instruments, such as equity-linked securities, to gain exposure to certain emerging-markets, but not as a principal investment strategy. These techniques, which are incidental to a Fund's primary strategy, permit the Fund to gain exposure to a particular security, group of securities, currency, interest rate, or index, and thereby have the potential for a Fund to earn returns that are similar to those that would be earned by direct investments in those securities or instruments. A Fund may choose not to make use of derivatives for a variety of reasons, and any use may be limited by applicable laws and regulations. The use of all such instruments is subject to Domini's evaluation of environmental and social factors (see "Investment Process" above).

These techniques are also used to hedge against adverse changes in the market prices of securities, interest rates, or currency exchange rates. Hedging techniques may not always be available to a Fund, and it may not always be feasible for a Fund to use hedging techniques even when they are available.

Derivatives are instruments whose value depends on, or is derived from, the value of an underlying asset, reference rate or index. Derivatives may be riskier than other types of investments because they may be more sensitive to changes in economic or market conditions than other types of investments and could result in losses that significantly exceed the Fund's original investment. If the issuer of the derivative instrument does not pay the amount due, the Fund could lose money on the instrument. In addition, the underlying security or investment on which the derivative is based, or the derivative itself, may not perform the way the Fund's Subadviser expected. Certain derivatives may be less liquid, which may reduce the returns of a Fund if it cannot sell or terminate the derivative at an advantageous time or price. A Fund also may have to sell assets at inopportune times to satisfy its obligations. A Fund may be unable to terminate or sell its derivative positions, in fact, many over-the-counter derivative instruments will not have liquidity beyond the counterparty to the instrument. Some derivatives may involve the risk of improper valuation.

Successful use of derivative instruments by a Fund depends on the Subadviser's judgment with respect to a number of factors and the Fund's performance could be worse and/or more volatile than if it had not used these instruments. In addition, the fluctuations in the value of derivatives may not correlate perfectly with the value of any portfolio assets being hedged, the performance of the asset class to which the Subadviser seeks exposure, or the overall securities markets. As a result, the use of these techniques may result in losses to the Fund or increase volatility in the Fund's performance.

------

Some derivatives are sophisticated instruments that typically involve a small investment of cash relative to the magnitude of risks assumed. Some derivatives have the potential for unlimited loss, regardless of the size of a Fund's initial investment. Derivatives may have a leveraging effect on a Fund's portfolio. Leverage generally magnifies the effect of a change in the value of an asset and creates a risk of loss of value in a larger pool of assets than the Fund would otherwise have had. Derivative securities are subject to market risk, which could be significant for those that have a leveraging effect. New derivatives regulations require a Fund, to the extent it uses derivatives to a material extent, to, among other things, comply with certain overall limits on leverage. These regulations may limit the ability of a Fund to pursue its investment strategies and may not be effective to mitigate the Fund's risk of loss from derivatives. Use of derivatives or similar instruments may have different tax consequences for a Fund than an investment in the underlying security, and those differences may affect the amount, timing and character of income distributed to shareholders.

A Fund's use of derivatives may also increase the amount of taxes payable by shareholders. Suitable derivatives may not be available in all circumstances or at reasonable prices. Risks associated with the use of derivatives are magnified to the extent that a large portion of a Fund's assets are committed to derivatives in general or are invested in just one or a few types of derivatives.

The U.S. government and foreign governments are in the process of adopting and implementing regulations governing derivative markets, including mandatory clearing of certain derivatives and, margin and reporting requirements. The ultimate impact of the regulations remains unclear. Additional regulation of derivatives may make derivatives more costly, may limit their availability or utility or otherwise adversely affect their performance, or may disrupt markets. The Fund may be exposed to additional risks as a result of the additional regulations. The extent and impact of the regulations are not yet fully known and may not be for some time.

For derivatives that are required to be traded through a clearinghouse or exchange, a Fund also will be exposed to the credit risk of the clearinghouse and the broker that submits trades for the Fund. It is possible that certain derivatives that are required to be cleared, such as certain swap contracts, will not be accepted for clearing. The Fund will be required to maintain its positions with a clearing organization through one or more clearing brokers. The clearing organization will require the Fund to post margin and the broker may require the Fund to post additional margin to secure the Fund's obligations. The amount of margin required may change from time to time. In addition, cleared transactions may be more expensive to maintain than over-the-counter transactions and may require the Fund to deposit larger amounts of margin. The Fund may not be able to recover margin amounts if the broker has financial difficulties. Also, the broker may require the Fund to terminate a derivatives position under certain circumstances. This may cause the Fund to lose money.

The Adviser has claimed an exclusion from registration as a commodity pool operator. CFTC rules therefore limit the ability of the Funds to use futures,

------

options on futures, or engage in swap transactions. The use of certain derivatives in some circumstances will require that the Funds segregate cash or other liquid assets to the extent the Funds' obligations are not otherwise "covered" through ownership of the underlying security, financial instrument, or currency.

#### Credit Default Swap Contracts
The Bond Fund may utilize credit default swap contracts. Credit default swap contracts are a type of derivative instrument that involves heightened risks and may result in losses to the Fund. Credit default swaps may in some cases be illiquid and difficult to value, and they increase credit risk since the Fund has exposure to both the issuer of the referenced obligation and the counterparty to the credit default swap. If the Fund buys a credit default swap, it will be subject to the risk that the credit default swap may expire worthless, as the credit default swap would only generate income in the event of a default on the underlying debt security or other specified event. As a buyer, the Fund would also be subject to credit risk relating to the seller's payment of its obligations in the event of a default (or similar event). If the Fund sells a credit default swap, it will be exposed to the credit risk of the issuer of the obligation to which the credit default swap relates. As a seller, the Fund would also be subject to leverage risk, because it would be liable for the full notional amount of the swap in the event of default (or similar event). Swaps may be difficult to unwind or terminate. Certain index-based credit default swaps are structured in tranches, whereby junior tranches assume greater default risk than senior tranches. The absence of a central exchange or market for swap transactions may lead, in some instances, to difficulties in trading and valuation, especially in the event of market disruptions. New regulations require many kinds of swaps to be executed through a centralized exchange or regulated facility and be cleared through a regulated clearinghouse. Although this clearing mechanism is generally expected to reduce counterparty credit risk, it may disrupt or limit the swap market and may not result in swaps being easier to trade or value. As swaps become more standardized, the Fund may not be able to enter into swaps that meet its investment needs. The Fund also may not be able to find a clearinghouse willing to accept the swaps for clearing. In a cleared swap, a central clearing organization will be the counterparty to the transaction. The Fund will assume the risk that the clearinghouse may be unable to perform its obligations. The new regulations may make using swaps more costly, may limit their availability, or may otherwise adversely affect their value or performance.

#### Cash Reserves
Although each of the Funds seeks to be fully invested at all times, each Fund may hold a percentage of its assets in cash or cash equivalents. These reserves provide each Fund with flexibility to meet redemptions and expenses, and to readjust its portfolio holdings. Each Fund may hold these cash reserves uninvested or may invest them in high-quality, short-term debt securities issued by agencies or instrumentalities of the U.S. government, bankers'

------

acceptances, commercial paper, certificates of deposit, bank deposits, or repurchase agreements. Some of the investments may be with community development banks and financial institutions and may not be insured by the FDIC. All such securities are subject to Domini's evaluation of environmental and social factors (see "Investment Process" above).

#### Temporary Investments
Each Fund may temporarily use a different investment strategy for defensive purposes in response to adverse market conditions, economic factors, or other occurrences, and may invest part or all of its assets in securities with remaining maturities of less than one year or cash equivalents or may hold cash. This may adversely affect a Fund's performance. During such periods, it may be more difficult for a Fund to achieve its investment objective. It is important to note, however, that the Funds have not used a different investment strategy for defensive purposes in the past and may decide not to do so in the future — even in the event of deteriorating market conditions.

#### Additional Information
The Funds are not required to use every investment technique or strategy listed in this prospectus or in the Statement of Additional Information. For additional information about the Funds' investment strategies and risks, the Funds' Statement of Additional Information is available, free of charge, from Domini, or online at *domini.com/funddocuments*.

MORE ON THE RISKS OF INVESTING IN THE FUNDS

The value of your investment in the Domini Funds changes with the values of its investments. Many factors can positively or negatively affect those values. The factors that are most likely to have a material negative effect on your investment are called "Principal Risks". The Principal Risks of investing in the Domini Funds are identified in the "Fund at a Glance" section and are described in more detail below.

**Impact Investing Risk.** With respect to the Domini Impact Equity Fund, Domini Impact International Equity Fund, and Domini Impact Bond Fund (each a Fund), Domini's evaluation of environmental and social factors in its investment selections, as well as its evaluation of a company's commitment to sustainability solutions, and the timing and amount of the Subadviser's implementation of Domini's investment selections will affect the Fund's exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities including investments in certain market sectors that are available to funds that do not consider environmental and social factors in their investment selections.

**Sustainable Investing Risk.** Since the Domini Sustainable Solutions Fund (the Fund) seeks to make sustainable investments, it may choose to sell, or not purchase, investments that are otherwise consistent with its investment

------

objective. In general, the Adviser's evaluation of environmental and social factors, the application of sustainable investing criteria, and the timing and amount of the Subadviser's implementation of the Adviser's investment selections will affect the Fund's exposure to certain issuers, industries, sectors, regions, and countries and may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor. The Fund may forego some investment opportunities including investments in certain market sectors that are available to funds that do not consider sustainable investing criteria in their investment selections.

**Portfolio Management Risk.** The value of an investment in each Domini Fund may decrease if the Adviser's or Subadviser's judgment about the attractiveness or value of, or market trends affecting a particular security, industry, sector or region, or about market movements, or the timing or amount of an investment decision, is incorrect or does not produce the desired results. In addition, the Adviser's or Subadviser's investment process or approach may change from time to time. Those changes may not lead to the results intended by the Adviser or Subadviser and could have an adverse effect on the Fund's value or performance.

**Style Risk.** The value of an investment in the Domini Impact Bond Fund may decrease if the Subadviser's investment strategy does not respond well to current market conditions or its judgment regarding the quantity, value, or market trends affecting a particular security, industry, sector or region is incorrect.

**Quantitative Investment Approach Risk.** With respect to the Domini Impact International Equity Fund, the Subadviser seeks to identify stocks it believes are both undervalued by the market and favorably positioned according to earnings growth and price momentum with its proprietary quantitative stock selection approach. There is a risk that this approach may fail to produce the intended results, for example, if stocks remain undervalued during a given period, or because of a failure to anticipate which stocks or industries would benefit from changing market or economic conditions. The investment process and security selection decisions for each Fund rely critically upon a complex software system, and the failure of the system to function or the presence of software, data or other errors, or if the model or data is incorrect or incomplete, could have an adverse impact on Fund performance.

**Information Risk.** Domini generally relies on information that is provided by third parties or is self-reported by issuers to evaluate an investment, including environmental and social factors. Therefore, there is a risk in certain circumstances that sufficient information may not be readily available, complete, or accurate, or may be biased. This may affect the way Domini evaluates such information, in a particular situation, which may negatively impact each Domini Fund's performance. In certain circumstances, this may also lead Domini to avoid certain issuers, markets, industries, sectors, or regions.

**Market Risk.** For each Domini Fund, the market values of securities or other assets will fluctuate, sometimes sharply and unpredictably, due to changes in

------

general market conditions, overall economic trends or events, governmental actions or intervention, actions taken by the U.S. Federal Reserve or foreign central banks, market disruptions caused by trade disputes labor strikes or other factors, political developments, armed conflicts, economic sanctions and countermeasures in response to sanctions, major cybersecurity events, political instability, recessions, inflation, changes in interest or currency rates, the global and domestic effects of widespread or local health, weather or climate events, armed conflict, market disruptions caused by tariffs, trade disputes, sanctions or other government actions, or other factors or adverse investor sentiment that may or may not be related to the issuer of the security or other asset. Economies and financial markets throughout the world are increasingly interconnected. Economic, financial or political events, trading or tariff arrangements, public health events, terrorism, wars, natural disasters and other circumstances in one country or region could have profound impacts on other countries or regions and on global economies or markets. As a result, whether or not a Fund invests in securities of issuers located in or with significant exposure to the countries or markets directly affected, the value and liquidity of the Fund's investments may be negatively affected. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East have caused and could continue to cause significant market disruptions and volatility. The hostilities and sanctions resulting from those hostilities have and could continue to have a significant impact on certain Fund investments as well as Fund performance and liquidity. Following Russia's invasion of Ukraine in 2022, Russian stocks lost all, or nearly all, of their market value. Other securities or markets could be similarly affected by past or future geopolitical or other events or conditions. Furthermore, events involving limited liquidity, defaults, nonperformance or other adverse developments that affect one industry, such as the financial services industry, or concerns or rumors about any events of these kinds, have in the past and may in the future lead to market-wide liquidity problems, may spread to other industries, and could negatively affect the value and liquidity of the Fund's investments. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions.

The long-term impact of the COVID-19 pandemic and its subsequent variants on economies, markets, industries and individual issuers, is not known. The U.S. government and the Federal Reserve, as well as certain foreign governments and central banks, took extraordinary actions to support local and global economies and the financial markets in response to the COVID-19 pandemic. This and other government intervention into the economy and financial markets have resulted in a large expansion of government deficits and debt, the long term consequences of which are not known.

Raising the ceiling on U.S. government debt has become increasingly politicized. Any failure to increase the total amount that the U.S. government is authorized to borrow could lead to a default on U.S. government obligations, with unpredictable consequences for economies and markets in the U.S. and elsewhere. Recently, inflation and interest rates have been volatile and may increase in the future. These circumstances could adversely

------

affect the value and liquidity of the Fund's investments, impair the Fund's ability to satisfy redemption requests, and negatively impact the Fund's performance.

The U.S. and other countries are periodically involved in disputes over trade and other matters, which may result in tariffs, investment restrictions and adverse impacts on affected companies and securities. For example, the U.S. has imposed tariffs and other trade barriers on Chinese exports, has restricted sales of certain categories of goods to China, and has established barriers to investments in China. Trade disputes may adversely affect the economies of the U.S. and its trading partners, as well as companies directly or indirectly affected and financial markets generally. The U.S. government has prohibited U.S. persons, such as the Fund, from investing in Chinese companies designated as related to the Chinese military. These and possible future restrictions could limit the Fund's opportunities for investment and require the sale of securities at a loss or make them illiquid. Moreover, China's long-running conflict over Taiwan's sovereignty, other disputes with many neighbors and historically strained relations with other Asian countries could result in military conflict. If the political climate between the U.S. and China does not improve or continues to deteriorate, if China enters into military conflict with Taiwan, the Philippines or another neighbor, or if other geopolitical conflicts develop or get worse, economies, markets and individual securities may be severely affected both regionally and globally, and the value of the Fund's assets may go down.

**Equity Securities Risk.** Equity securities held by each of Domini Impact Equity Fund, Domini Sustainable Solutions Fund, and Domini Impact International Equity Fund (each a Fund) may have greater price volatility than other asset classes, such as fixed income securities. The market price of a security may fluctuate based on overall market conditions, such as real or perceived adverse economic or political conditions or trends, tariffs and trade disruptions, inflation, substantial economic downturn or recession, changes in interest rates, or adverse investor sentiment. The market price of a security may also fall due to specific conditions that affect a particular sector of the securities market or a particular issuer. Changes in market conditions will not typically have the same impact on all types of securities. If the market prices of the equity securities owned by a Fund fall, the value of your investment in the Fund will decline. If a Fund holds equity securities in a company that becomes insolvent, the Fund's interests in the company will be subordinated to the interests of debtholders and general creditors of the company, and the Fund may lose its entire investment.

**Mid- to Large-Capitalization Companies Risk.** Under normal circumstances, the Domini Impact Equity Fund, Domini Sustainable Solutions Fund, and Domini Impact International Equity Fund (each a Fund) will invest primarily in mid- to large-capitalization companies. Mid-capitalization and large-capitalization stocks tend to go through cycles when they do better, or worse, than other asset classes or the stock market overall. The performance of each shareholder's investment will be affected by these market trends. Each Fund reserves the right to invest in companies of any capitalization, including small- capitalization companies. Compared to large companies, small- and mid-size

------

companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations, or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss.

**Small-Capitalization Companies Risk.** The Domini Impact Equity Fund and Domini Sustainable Solutions Fund invest in small-capitalization companies. Compared to large- and mid-capitalization companies, small- capitalization companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss. Therefore, securities of small-capitalization companies may be subject to wider and more erratic price fluctuations which may negatively impact the value of your investment in each Fund.

**Foreign Investing Risk.** The investment of each Domini Fund in securities of issuers tied economically to a foreign country or foreign regions may represent a greater degree of risk than investment in U.S. securities due to political, social, and economic developments, such as nationalization or expropriation of assets, imposition of currency controls or restrictions, investment and repatriation restrictions, confiscatory taxation, tariffs, trade disputes, weather or climate events, natural disasters, military conflicts and sanctions, terrorism, arbitrary application of laws and regulations or lack of rule of law, and political or financial instability. Additionally, there is risk resulting from the differences between the regulations to which U.S. and foreign issuers and markets are subject, such as accounting, auditing, and financial reporting and recordkeeping standards and practices, and the degree of government oversight and supervision, as well as the information that may be publicly available regarding foreign issuers. These factors can make foreign investments more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market.

The Public Company Accounting Oversight Board, which regulates auditors of U.S. public companies, may, from time to time, be unable to inspect audit work papers in certain foreign countries. Investors in foreign countries often have limited rights and few practical remedies to pursue shareholder claims, including class actions or fraud claims, and the ability of the Securities and Exchange Commission, the U.S. Department of Justice and other authorities to bring and enforce actions against foreign issuers or foreign persons is limited. Foreign investments may also be adversely affected by U.S. government or international interventions, restrictions or economic sanctions, which could negatively affect the value of an investment or result in the Fund selling an investment at a disadvantageous time.

------

The value of a Fund's foreign investments may also be affected by foreign tax laws, special U.S. tax considerations and restrictions on receiving the investment proceeds from a foreign country. Dividends or interest on, or proceeds from the sale or disposition of, foreign securities may be subject to non-U.S. withholding or other taxes.

It may be difficult for a Fund to pursue claims against a foreign issuer or other parties in the courts of a foreign country. Some securities issued by non-U.S. governments or their subdivisions, agencies and instrumentalities may not be backed by the full faith and credit of such governments. Even where a security is backed by the full faith and credit of a government, it may be difficult for the Fund to pursue its rights against the government. In the past, some non-U.S. governments have defaulted on principal and interest payments.

Foreign investing risk also involves the risk of negative foreign currency rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which a Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.

In certain foreign markets, settlement and clearance of trades may experience delays in payment for or delivery of securities not typically associated with settlement and clearance of U.S. investments. Settlement of trades in these markets can take longer than in other markets and the Fund may not receive its proceeds from the sale of certain securities for an extended period (possibly several weeks or even longer) due to, among other factors, low trading volumes and volatile prices. The custody or holding of securities, cash and other assets by local banks, agents and depositories in securities markets outside the United States may entail additional risks. Governments or trade groups may compel local agents to hold securities in designated depositories that may not be subject to independent evaluation. Local agents are held only to the standards of care of their local markets, and may be subject to limited or no government oversight. In extreme cases, a Fund's securities may be misappropriated, or the Fund may be unable to sell its securities. In general, the less developed a country's securities market is, the greater the likelihood of custody problems.

These risks may be more pronounced in connection with a Fund's investments in securities of issuers located in emerging market countries. Some markets in which a Fund may invest are located in parts of the world that have historically been prone to natural disasters that could result in a significant adverse impact on the economies of those countries and investments made in those countries.

China and other developing market countries may be subject to considerable degrees of economic, political and social instability. Markets in China and other Asian countries are relatively new and undeveloped. China's economic health is largely dependent upon exports and may be dependent upon the economies of other Asian countries. Investments in Chinese and other Asian issuers could be adversely affected by changes in government policies, or trade or political disputes with major trading partners, including the U.S. China's growing trade surplus with the U.S. has given rise to trade disputes and the

------

imposition of tariffs. The U.S. has also restricted the sale of certain goods to China. In addition, the U.S. government has imposed restrictions on U.S. investor participation in certain Chinese investments. These matters could adversely affect China's economy. China's central government exercises significant control over China's economy and may intervene in the financial markets, such as by imposing trading restrictions, and investments in Chinese issuers could be adversely affected by changes in government policies. The Chinese economy could be adversely affected by supply chain disruptions. An economic slowdown in China could adversely affect economies of other emerging market countries that trade with China, as well as companies operating in those countries. Economies of Asian countries and Asian issuers could be adversely affected by regional security threats. In addition, China's long-running conflict over Taiwan's sovereignty, border disputes with many neighbors, and historically strained relations with other Asian countries could result in military conflict that could adversely impact the economies of China and other Asian countries, disrupt supply chains, and severely affect global economies and markets.

Russia launched a large-scale invasion of Ukraine on February 24, 2022. In response to the military action by Russia, various countries, including the U.S., the U.K., and European Union issued broad-ranging economic sanctions against Russia and Belarus and certain companies and individuals. Russia has taken retaliatory actions, including preventing repatriation of capital by U.S. and other investors. Since then, Russian securities lost all, or nearly all, their market value, and many other issuers, securities and markets have been adversely affected. The ongoing conflict has resulted in significant market disruptions, including in certain markets, industries and sectors, such as the oil and natural gas markets, and negatively affected global supply chains, food supplies, inflation and global growth. The U.S. and other countries may impose sanctions on other countries, companies and individuals in light of Russia's military invasion. The extent and duration of the military action or future escalation of such hostilities, the extent and impact of existing and future sanctions, market disruptions and volatility, and the result of any diplomatic negotiations cannot be predicted. These and any related events could have a significant impact on the value and liquidity of certain Fund investments, on Fund performance and the value of an investment in a Fund. Circumstances that impact one country could have profound impacts on other countries and on global economies or markets.

**Emerging Markets Risk.** To the extent the Domini Impact International Equity Fund (the Fund) holds companies that are tied economically to emerging market countries, including those in Central and Eastern Europe and/or in the Asia-Pacific region, the Fund will be subject to emerging markets risk. The securities markets in these and other emerging market countries are less liquid, are subject to greater price volatility, have smaller market capitalizations, may have less government regulation, and are not subject to as extensive and frequent accounting, financial, and other reporting requirements as the securities markets of more-developed countries. Further, investment in equity securities of issuers located in emerging market countries involves risk of loss resulting from problems in share registration and custody

------

and substantial economic and political disruptions. These risks are not normally associated with investments in more-developed countries. Emerging market economies tend to be less diversified than those of more developed countries. They typically have fewer medical and economic resources than more developed countries and thus they may be less able to control or mitigate the effects of a pandemic.

**Geographic Focus Risk.** To the extent that the Domini Sustainable Solutions Fund or the Domini Impact International Equity Fund (each a Fund) invest from time to time a significant portion of their assets in issuers organized or located in a particular country or geographic region, market changes or other factors affecting such regions, including political instability and unpredictable economic conditions, as well as by the spread of infectious illness or other public health issues, weather or climate events, natural disasters, armed conflict and market disruptions caused by tariffs, trade disputes, sanctions or other government actions affecting those countries or regions could have a significant impact on each Fund due to its geographic focus.

**Country Risk.** The Domini Impact International Equity Fund (the Fund) expects to diversify its investments primarily among issuers with exposure to various countries throughout the world. To the extent that the Fund invests from time to time a significant percentage of its assets in issuers tied economically to a particular country or countries, including Japan, the United Kingdom (the "U.K."), and Germany, the Fund may be particularly affected by the economic, political, regulatory, security, and social conditions in that country, as well as by the spread of infectious illness or other public health issues.

**Investing in Japan.** With respect to the Fund, the Japanese economy is highly dependent upon international trade, particularly with the U.S. and other Asian countries. Because of its trade dependence, the Japanese economy is particularly exposed to the risks of currency fluctuation, foreign trade policy and regional and global economic disruption. In the past, Japan's economic growth rate has remained relatively low, and it may remain low in the future. The Japanese economic growth rate could be impacted by Bank of Japan monetary policies, rising interest rates, tax increases, budget deficits, consumer confidence, and volatility in the Japanese yen. Japan's economy has been adversely affected by trade tariffs, other protectionist measures, competition from emerging economies, and the economic conditions of trading partners. Strained foreign relations with neighboring countries (China, South Korea, North Korea, and Russia) may not only negatively impact the Japanese economy but also the geographic region as well as globally. Economic growth in Japan is heavily dependent on continued growth in international trade, government support of the financial services sector, among other troubled sectors, and consistent government policy. In addition, the Japanese economy has been adversely affected by certain structural issues, including an aging population, significant non-performing loan portfolios at major financial institutions, substantial government deficits, low domestic consumption, and natural and environmental disasters.

------

**Investing in the United Kingdom.** With respect to the Fund, the U.K. has one of the largest economies in Europe, and the U.S. and other European countries are substantial trading partners of the U.K. As a result, the U.K.'s economy may be impacted by changes to the economic condition of the U.S., China, and other European countries. The profitability of U.K. issuers may also be influenced by the economies of other European countries and economic and market regulations of the European Union. The U.K.'s economy will also be significantly affected by the U.K.'s exit from the European Union, commonly referred to as "Brexit". Following a transition period, the U.K.'s post-Brexit trade agreement with the European Union passed into law in December 2020 and went into effect on January 1, 2021. The U.K. has officially left the European Union (EU). The U.K. and EU have reached an agreement on the terms of their future trading relationship, which principally relates to the trading of goods rather than services, including financial services. Notwithstanding this agreement, uncertainty remains in the market regarding the ramifications of the U.K.'s withdrawal from the EU. The impact on the U.K. and European economies and the broader global economy could be significant, resulting in increased volatility and illiquidity, currency fluctuations, impacts on arrangements for trading and on other existing cross-border cooperation arrangements, and in potentially lower growth for companies in the U.K., Europe and globally, which could have an adverse effect on the value of the Fund's investments.

**Investing in Germany.** With respect to the Domini International Equity Fund, Germany has a large export-reliant manufacturing and industrials sector and the German economy is dependent to a significant extent on the economies of certain key trading partners, including the Netherlands, China, the U.S., the U.K., France, Italy, and other European countries. Reduction in spending on German products and services, or changes in any of the economies may have an adverse impact on the German economy. In addition, heavy regulation of labor, energy, and product markets in Germany may have an adverse impact on German issuers. Such regulations may negatively impact economic growth or cause prolonged periods of recession. Ongoing concerns in relation to the economic health of the European Union continue to constrain the economic resilience of certain European Union member states, including Germany.

**Currency Risk.** Fluctuations between the U.S. dollar and foreign currency exchange rates could negatively affect the value of the Domini Sustainable Solutions Fund, Domini Impact International Equity Fund, and Domini Impact Bond Fund's investments. This fluctuation can affect both the value of the currencies in which a Fund's investments are traded or an active investment position. Each Fund will benefit when foreign currencies, including the yen, the pound sterling, and the euro, strengthen against the dollar and will be hurt when foreign currencies weaken against the dollar. Currency exchange rates can be volatile and are affected by factors such as general economic conditions, the actions of U.S. and foreign governments or central banks, the imposition of currency controls or restrictions, speculation, and the

------

spread of infectious illness or other public health issues. Devaluation of a currency by a country's government or banking authority also will have a significant impact on the value of any investments denominated in that currency. Currency markets generally are not as regulated as securities markets, may be riskier than other types of investments, and may increase the volatility of the Fund.

**Issuer Focus Risk***.* The Domini Sustainable Solutions Fund (the Fund) may invest in fewer than fifty issuers, and as a result, the Fund's performance may be more volatile than the performance of funds holding more securities.

**Interest Rate Risk.** The market prices of securities held by Domini Impact Bond Fund (the Fund) may fluctuate significantly when interest rates change. When interest rates rise, the value of fixed income securities, and therefore the value of your investment in the Fund, generally goes down. A general rise in interest rates could adversely affect the price and liquidity of fixed income securities and could also result in increased redemptions from the Fund. A change in interest rates will not have the same impact on all fixed income securities.

Recently, there have been inflationary price movements. As a result, fixed income securities markets may experience heightened levels of interest rate volatility and liquidity risk. The U.S. government and the U.S. Federal Reserve, as well as certain foreign governments and central banks, have from time to time taken steps to support financial markets. The U.S. government and the U.S. Federal Reserve may, conversely, reduce market support activities, including by taking action intended to increase certain interest rates. This and other government intervention may not work as intended, particularly if the efforts are perceived by investors as being unlikely to achieve the desired results. Changes in government activities in this regard, such as changes in interest rate policy, can negatively affect financial markets generally, increase market volatility and reduce the value and liquidity of securities in which the Fund invests.

Generally, the longer the maturity or duration of a fixed income security, the greater the impact of a rise in interest rates on the security's market price. However, calculations of duration and maturity may be based on estimates and may not reliably predict a security's price sensitivity to changes in interest rates. Under normal market conditions, the Fund's effective duration will be within two years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg U.S. Aggregate Bond Index as calculated by the Subadviser. The maturity of a security may be significantly longer than its effective duration. A security's maturity and other features may be more relevant than its effective duration in determining the security's sensitivity to other factors affecting the issuer or markets generally such as changes in credit quality or in the yield premium that the market may establish for certain types of securities (sometimes called "credit spread"). In general, the longer its maturity the more a security may be susceptible to these factors. When the credit spread for a fixed income security goes up, or "widens," the value of the security will generally go down. Calculations of maturity and duration may be based on estimates and may not reliably predict a security's price

------

sensitivity to changes in interest rates. Moreover, securities can change in value in response to other factors, such as credit risk. In addition, different interest rate measures (such as short- and long-term interest rates and U.S. and foreign interest rates), or interest rates on different types of securities or securities of different issuers, may not necessarily change in the same amount or in the same direction. Prepayments of the debt instruments held by the Fund that are greater than or less than expected may cause its effective duration to differ from its normal range. This deviation is not a violation of investment policy. When interest rates decline, investments made by the Fund may pay a lower interest rate, which would reduce income received and distributed by the Fund. Also, when interest rates go down, the Fund's yield will decline.

**Credit Risk.** The value of your investment in the Domini Impact Bond Fund (the Fund) could decline if the issuer of a security held by the Fund or another obligor for that security (such as a party offering credit enhancement) fails to pay, otherwise defaults, is perceived to be less creditworthy, becomes insolvent, or files for bankruptcy. The value of your investment in the Fund could also decline if the credit rating of a security held by the Fund is downgraded or the credit quality or value of any assets underlying the security declines. Changes in actual or perceived creditworthiness may occur quickly. If the Fund enters into financial contracts (such as certain derivatives, repurchase agreements, reverse repurchase agreements, and, when-issued, delayed delivery and forward commitment transactions), the Fund will be subject to the credit risk presented by the counterparty. The Fund may incur expenses and suffer delays in an effort to protect the Fund's interests or to enforce its rights. In addition, the value of any debt instrument held by the Fund may be negatively affected for a number of reasons that directly relate to the issuer of that debt instrument, such as management performance, financial leverage, and reduced demand for the issuer's goods or services.

All of these factors contribute to the debt issuer's perceived creditworthiness. A major factor affecting the pricing of debt instruments is how creditworthy the issuers of these instruments are perceived to be. This perception is often related to credit ratings assigned by industry-recognized credit rating agencies.

Debt instruments with lower ratings tend to be more volatile than those with higher ratings. Lower-rated or unrated securities may also be hard to value accurately or sell at a fair price.

Credit risk is broadly gauged by the credit ratings of the securities in which the Fund invests. However, ratings are only the opinions of the companies issuing them and are not absolute guarantees as to quality. Investment-grade debt instruments include those that are rated investment-grade by a nationally recognized statistical rating organization, and those securities that the Domini Impact Bond Fund's portfolio managers believe to be of comparable quality.

Debt securities that are below investment grade, called "junk bonds," are speculative, have a higher risk of default or are already in default, tend to be less liquid and are more difficult to value than higher grade securities. Junk bonds tend to be volatile and more susceptible to adverse events and negative sentiments. These risks are more pronounced for securities that are already in default.

------

If the credit quality of a security declines after the Fund buys it, the Fund's portfolio managers will decide whether the Fund should continue to hold or should sell the security. Community development investments that are unrated and/or illiquid may be riskier than investment-grade securities, and some may earn below-market rates of return. The Fund may not be able to sell illiquid investments at an advantageous time or price. The Fund may invest in securities which are subordinated to more senior securities of the issuer, or which represent interests in pools of such subordinated securities. The Fund is more likely to suffer a credit loss on subordinated securities than on non-subordinated securities of the same issuer. If there is a default, bankruptcy or liquidation of the issuer, most subordinated securities are paid only if sufficient assets remain after payment of the issuer's non-subordinated securities. In addition, any recovery of interest or principal may take more time. As a result, even a perceived decline in creditworthiness of the issuer is likely to have a greater impact on subordinated securities. Subordinated securities will be disproportionately affected by a default or even a perceived decline in creditworthiness of the issuer.

**Prepayment and Extension Risk.** Many fixed-income securities give the issuer the option to repay or call the security prior to its maturity date. Issuers often exercise the right when interest rates fall. This can reduce the returns of the Domini Impact Bond Fund (the Fund) because it may have to reinvest that money at the lower prevailing interest rates. On the other hand, rising interest rates may cause debt instruments to be repaid later than expected, forcing the Fund to endure the relatively low interest rates on these instruments. This also extends the effective duration of certain debt instruments, making them more sensitive to changes in interest rates and the Fund's net asset value more volatile. Because the Fund invests in mortgage-backed securities, it is particularly sensitive to this type of risk.

**Liquidity Risk.** Liquidity risk exists when particular investments are or become difficult to purchase or sell. When the Domini Impact Bond Fund (the Fund) holds these types of investments, the Fund's portfolio may be more difficult to value, especially during periods of market turmoil or due to adverse changes in the conditions of a particular issuer. Markets may become illiquid when there are few, if any, interested buyers or sellers or when dealers are unwilling or unable to make a market for certain securities. As a general matter, dealers recently have been less willing to make markets for fixed income securities. During times of market turmoil, there have been, and may be, no buyers for securities in entire asset classes, including U.S. Treasury securities. When a Fund holds illiquid investments, the Fund may be harder to value, especially in changing markets. Investments by the Fund in derivatives, below investment grade securities, foreign securities, and corporate loans tend to involve greater liquidity risk. If a Fund is forced to sell or unwind these investments to meet redemptions or for other cash needs, or to try to limit losses, the Fund may suffer a substantial loss or may not be able to sell at all. A Fund may experience heavy redemptions that could cause the Fund to liquidate its assets at inopportune times or at a loss or depressed value, which could cause the value of your investment to decline. Additionally, the market for certain investments may become illiquid under adverse market or

------

economic conditions independent of any specific adverse changes in the conditions of a particular issuer. In such cases, the Fund, due to limitations on investments in illiquid securities and the difficulty in purchasing and selling such securities, may be unable to achieve its desired level of exposure to certain sectors. The liquidity of certain assets, particularly of privately-issued and noninvestment grade mortgage-backed securities, asset-backed securities and collateralized debt obligations, may be difficult to ascertain and may change over time. Transactions in less liquid or illiquid securities may entail transaction costs that are higher than those for transactions in liquid securities. Further, certain securities, once sold, may not settle for an extended period. The Fund will not receive its sales proceeds until that time, which may constrain the Fund's ability to meet its obligations (including obligations to redeeming shareholders). Liquidity risk may be magnified in an environment of rising interest rates or widening credit spreads in which investor redemptions from fixed income mutual funds may be higher than normal.

**Government-Sponsored Entity Risk.** The Domini Impact Bond Fund currently invests a significant portion of its assets in securities issued by government-sponsored entities such as Fannie Mae (formally known as the Federal National Mortgage Association), Freddie Mac (formally known as the Federal Home Loan Mortgage Corporation), and the Federal Home Loan Banks. These entities were chartered or sponsored by Congress. However, they are not funded by the government, and their securities are not issued, guaranteed, or insured by the U.S. government or the U.S. Treasury. Although the U.S. government has provided financial support to Fannie Mae and Freddie Mac, there can be no assurance that it will support these or other government-sponsored enterprises in the future.

**Mortgage-Related and Asset-Backed Securities Risk.** Under normal circumstances, the Domini Impact Bond Fund (the Fund) may invest in mortgage-related and asset-backed securities. The repayment of certain mortgage-backed and asset-backed securities depends primarily on the cash collections received from the issuer's underlying asset portfolio and, in certain cases, the issuer's ability to issue replacement securities. As a result, there could be losses to the Fund in the event of credit or market value deterioration in the issuer's underlying portfolio, mismatches in the timing of the cash flows of the underlying asset interests and the repayment obligations of maturing securities, or the issuer's inability to issue new or replacement securities. Mortgage-backed securities tend to be more sensitive to changes in interest rates than other types of debt securities. These securities are also subject to interest rate, prepayment, and extension risks. Prepayment risk is generally lower with respect to delegated underwriting and servicing ("DUS") bonds issued with prepayment penalties that help protect investors in cases of voluntary repayment by the underlying borrower. Upon the occurrence of certain triggering events or defaults, the investors in a security held by the Fund may become the holders of underlying assets at a time when those assets may be difficult to sell or may be sold only at a loss. In the event of a default, the value of the underlying collateral may be insufficient to pay certain expenses, such as litigation and foreclosure expenses, and inadequate to pay any principal or unpaid interest. The risk of default is generally higher in the

------

case of mortgage-backed investments offered by private issuers and those that include so-called "sub-prime" mortgages. Privately issued mortgage-backed and asset-backed securities are not traded on an exchange and may have a limited market. Without an active trading market, these securities may be particularly difficult to value given the complexities in valuing the underlying collateral.

Certain mortgage-backed and asset-backed securities may pay principal only at maturity or may represent only the right to receive payments of principal or interest on the underlying obligations, but not both. The value of these types of instruments may change more drastically than debt securities that pay both principal and interest during periods of changing interest rates. Principal only instruments generally increase in value if interest rates decline but are also subject to the risk of prepayment. Interest only instruments generally increase in value in a rising interest rate environment when fewer of the underlying obligations are prepaid. Interest only instruments could lose their entire value in a declining interest rate environment if the underlying obligations are prepaid.

Unlike mortgage-related securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, mortgage-related securities issued by private issuers do not have a government or government-sponsored entity guarantee (but may have other credit enhancement), and may, and frequently do, have less favorable collateral, credit risk, or other characteristics. The Fund may invest in other mortgage-related securities, including mortgage derivatives and structured securities. These securities typically are not secured by real property. Because these securities have embedded leverage features, small changes in interest or prepayment rates may cause large and sudden price movements. These securities also can become illiquid and difficult to value in volatile or declining markets. Privately-issued mortgage-related securities are also not subject to the same under writing requirements for the underlying mortgages that are applicable to those mortgage-related securities that have a government or government-sponsored entity guarantee. Privately- issued mortgage-related securities are not traded on an exchange and there may be a limited market for the securities, especially when there is a perceived weakness in the mortgage and real estate market sectors. Without an active trading market, mortgage-related securities held in the Fund's portfolio may be particularly difficult to value because of the complexities involved in assessing the value of the underlying mortgage loans.

Mortgage-backed securities are particularly susceptible to prepayment and extension risks, because prepayments on the underlying mortgages tend to increase when interest rates fall and decrease when interest rates rise. Prepayments may also occur on a scheduled basis or due to foreclosure. When market interest rates increase, mortgage refinancings and prepayments slow, which lengthens the effective duration of these securities. As a result, the negative effect of the interest rate increase on the market value of mortgage-backed securities is usually more pronounced than it is for other types of fixed income securities, potentially increasing the volatility of the Fund. Conversely, when market interest rates decline, while the value of mortgage-backed

------

securities may increase, the rates of prepayment of the underlying mortgages tend to increase, which shortens the effective duration of these securities. Mortgage-backed securities are also subject to the risk that the underlying borrowers will be unable to meet their obligations.

At times, some of the mortgage-backed securities in which the Fund may invest will have higher than market interest rates and therefore will be purchased at a premium above their par value. Prepayments may cause losses on securities purchased at a premium.

The value of mortgage-backed and asset-backed securities may be affected by changes in credit quality or value of the mortgage loans or other assets that support the securities. In addition, for mortgage-backed securities, when market conditions result in an increase in the default rates on the underlying mortgages and the foreclosure values of the underlying real estate are below the outstanding amount of the underlying mortgages, collection of the full amount of accrued interest and principal on these investments may be less likely. Certain types of real estate may be adversely affected by changing usage trends, such as office buildings as a result of work-from-home practices and commercial facilities as a result of an increase in online shopping, which could in turn result in defaults and declines in value of mortgage-backed securities secured by such properties.

The Fund may invest in CMOs. Principal prepayments on the underlying mortgage loans may cause a CMO to be retired substantially earlier than its stated maturity or final distribution date. If there are defaults on the underlying mortgage loans, the Fund will be less likely to receive payments of principal and interest and will be more likely to suffer a loss. This risk may be increased to the extent the underlying mortgages include sub-prime mortgages. As market conditions change, and particularly during periods of rapid or unanticipated changes in market interest rates, the attractiveness of a CMO class and the ability of the structure to provide the anticipated investment characteristics may be significantly reduced. Such changes can result in volatility in the market value, and in some instances reduced liquidity, of a CMO class.

The Fund may invest in credit risk transfer ("CRT") securities. CRT securities are unguaranteed and unsecured fixed income securities issued by government-sponsored or private entities that transfer the credit risk related to certain types of mortgage-backed securities to the holder of the CRT security. In the event of an issuer default, the holder of a CRT security has no direct recourse to the underlying mortgage loans. In addition, if the underlying mortgage loans default, the principal of the holders of the CRT security is used to pay back holders of the mortgage-backed securities. As a result, all or part of the mortgage default or credit risk associated with the underlying mortgage loans is transferred to the Fund. Therefore, the Fund could lose all or part of its investments in credit risk transfer securities in the event of default by the underlying mortgage loans.

The Fund may invest in commercial mortgage-backed securities ("CMBS"). CMBS are subject to the risks generally associated with mortgage-backed securities. CMBS may not be backed by the full faith and credit of the U.S.

------

government and are subject to risk of default on the underlying mortgages. CMBS issued by non-government entities may offer higher yields than those issued by government entities, but also may be subject to greater volatility than government issues. CMBS react differently to changes in interest rates than other bonds and the prices of CMBS may reflect adverse economic and market conditions. Small movements in interest rates (both increases and decreases) may quickly and significantly reduce the value of CMBS.

Asset-backed securities are structured like mortgage-backed securities and are subject to many of the same risks. The ability of an issuer of asset-backed securities to enforce its security interest in the underlying asset or to otherwise recover from the underlying obligor may be limited. Certain asset-backed securities present a heightened level of risk because, in the event of default, the liquidation value of the underlying assets may be inadequate to pay any unpaid principal or interest.

**Floating and Variable Rate Loan Risk.** The Domini Impact Bond Fund's (the Fund) investment in floating and variable rate loans and similar investments may be illiquid or less liquid than other investments and difficult to value. The value of collateral, if any, securing a floating rate loan can decline or may be insufficient to meet the issuer's obligations or may be difficult to liquidate. In the event of a default, the Fund may have difficulty collecting on any collateral and would not have the ability to collect on any collateral for an uncollateralized loan. Further, the Fund's access to collateral, if any, may be limited by bankruptcy law. Market quotations for these securities may be volatile and/or subject to large spreads between bid and ask prices. No active trading market may exist for many floating rate loans, and many loans are subject to restrictions on resale. Any secondary market may be subject to irregular trading activity and extended trade settlement periods. In particular, loans may take longer than seven days to settle, potentially leading to the sale proceeds of loans not being available to meet redemptions for a substantial period of time after the sale of the loans. To the extent that sale proceeds of loans are not available, the Fund may sell securities that have shorter settlement periods or may access other sources of liquidity to meet redemption requests. During periods of heightened redemption activity or distressed market conditions, the Fund may seek to obtain expedited trade settlement, which will generally incur additional costs (although expedited trade settlement will not always be available). If the Fund invests in loans that contain fewer or less restrictive constraints on the borrower than certain other types of loans ("covenant lite" loans), it may have fewer rights against the borrowers of such loans, including fewer protections against the possibility of default and fewer remedies in the event of default. An economic downturn generally leads to a higher non-payment rate, and a loan may lose significant value before a default occurs. There is less readily available, reliable information about most floating rate loans than is the case for many other types of securities. Loans may not be considered "securities," and purchasers, such as the Fund, therefore may not be entitled to rely on the anti-fraud protections afforded by federal securities laws.

------

**Municipal Securities Risk.** The Domini Impact Bond Fund (the Fund) may invest in municipal securities. The municipal bond market can be susceptible to unusual volatility, particularly for lower-rated and unrated securities. Liquidity can be reduced unpredictably in response to overall economic conditions or credit tightening. Municipal issuers may be adversely affected by rising health care costs, increasing unfunded pension liabilities, and by the phasing out of federal programs providing financial support. Unfavorable conditions and developments relating to projects financed with municipal securities can result in lower revenues to issuers of municipal securities, potentially resulting in defaults. Issuers often depend on revenues from these projects to make principal and interest payments. The value of municipal securities can also be adversely affected by changes in the financial condition of one or more individual municipal issuers or insurers of municipal issuers, regulatory and political developments, tax law changes or other legislative actions, and by uncertainties and public perceptions concerning these and other factors. Municipal issuers may be more susceptible to downgrades or defaults during recessions or similar periods of economic stress. Financial difficulties of municipal issuers may continue or get worse, particularly in the event of political, economic or market turmoil or a recession. To the extent that the Fund invests significantly in a single state, city, territory or region, or in securities the payments on which are dependent upon a single project or source of revenues, or that relate to a sector or industry, the Fund will be more susceptible to associated risks and developments.

**Mortgage Dollar Roll Transactions Risk.** The benefits to Domini Impact Bond Fund (the Fund) from mortgage dollar roll transactions depend upon the Subadviser's ability to forecast mortgage prepayment patterns on different mortgage pools. The Fund may lose money if, during the period between the time it agrees to the forward purchase of the mortgage securities and the settlement date, these securities decline in value due to market conditions or prepayments on the underlying mortgages.

**To Be Announced (TBA) Securities Risk.** TBA securities, including forward commitments and when-issued or delayed-delivery transactions, arise when securities are purchased or sold in accordance with certain trade parameters agreed upon at the time of contract with payment and delivery taking place in the future in order to secure what is considered to be an advantageous price and yield at the time of entering into the transaction. TBA security transactions involve the risk that the TBA security the Domini Impact Bond Fund (the Fund) buys will lose value prior to its delivery. There also is the risk that the security will not be issued or that the other party to the transaction will not meet its obligation. If this occurs, the Fund could lose both the investment opportunity for the assets it set aside to pay for the security and any gain in the security's price.

**Market Sector Risk.** Each Domini Fund may hold a large percentage of securities in a particular market sector. To the extent a Fund holds a large percentage of securities in a particular sector, its performance will be tied closely to and affected by the performance of that sector and the Fund will be subject to a greater degree to any market price movements, regulatory or

------

technological change, economic conditions, the spread of infectious illness or other public health issues, or other developments affecting the issuers or companies in such market sectors.

**Financials Sector Risk.** The investment by each Domini Fund of a large percentage of its holdings in securities of issuers in the financials sector will subject the Fund to a greater degree to any market price movements, regulatory or technological change, economic conditions or other developments affecting the issuers or companies in the financials sector. Issuers in the financials sector, such as banks, insurance companies, and broker-dealers, may be sensitive to changes in interest rates, credit rating downgrades, decreased liquidity in credit markets, and general economic activity, and are generally subject to extensive government regulation.

**Information Technology Sector Risk.** The investment by the Domini Impact Equity Fund, Domini Sustainable Solutions Fund, and Domini Impact International Equity Fund (each of Fund) of a large percentage of its holdings in securities of issuers in the information technology sector will subject the Fund to a greater degree to any market price movements, regulatory or technological change, economic conditions or other developments affecting the issuers or companies in the information technology sector. Information technology companies face intense competition and potentially rapid obsolescence. They are also heavily dependent on intellectual property rights and may be adversely affected by the loss or impairment of those rights.

**Industrials Sector Risk.** The investment by the Domini Sustainable Solutions Fund and Domini Impact International Equity Fund of a large percentage of its holdings in securities of issuers in the industrials sector, such as companies engaged in the production, distribution or service of products or equipment for manufacturing, agriculture, forestry, mining, and construction, can be significantly affected by general economic trends, including such factors as employment and economic growth, interest rate changes, changes in consumer spending, legislative and governmental regulation and spending, import controls, litigation, liability for environmental damage and product liability claims, trading and tariff arrangements, trade disruptions, commodity prices and availability, exchange rates, and worldwide competition. The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand related to their specific products or services and industrials sector products in general. The products of manufacturing companies may face obsolescence due to rapid technological developments and frequent new product introduction.

**Health Care Sector Risk.** The investment by each of the Domini Impact Equity Fund, Domini Sustainable Solutions Fund, and Domini Impact International Equity Fund (each of Fund) of a large percentage of its holdings in securities of issuers in the health care sector will subject the Fund to a greater degree to any market price movements, regulatory or technological change, economic conditions or other developments affecting the issuers or companies in the health care sector. Securities in

------

the health care sector, such as health care supplies, health care services, biotechnology, and pharmaceuticals, may be significantly affected by government regulation and reimbursement rates, approval of products by government agencies, increases or decreases in the cost of medical products, services, and patient care, shortages of skilled personnel and increased personnel costs, and product liability claims, among other factors. Many health care companies are heavily dependent on patent protection, and the expiration of a company's patent may adversely affect that company's profitability. Healthcare companies are subject to competitive forces that may result in price discounting and may be thinly capitalized and susceptible to product obsolescence.

**Consumer Discretionary Sector Risk.** The investment by each of the Domini Impact Equity Fund, Domini Sustainable Solutions Fund, and Domini Impact International Equity Fund (each a Fund) of a large percentage of its holdings in securities of issuers in the consumer discretionary sector will subject the Fund to a greater degree to any market price movements, regulatory or technological change, economic conditions or other developments affecting the issuers or companies in the consumer discretionary sector. Securities in the consumer discretionary sector, such as consumer durables, hotels, restaurants, media, retailing and automobiles, may be significantly affected by the performance of the overall economy, interest rates, competition, consumer confidence and spending, and changes in demographics and consumer tastes.

**Portfolio Turnover Risk.** If the Domini Impact International Equity Fund or Domini Impact Bond Fund (each a Fund) does a lot of trading, the Fund may incur additional operating expenses, which would reduce performance, and could cause shareowners to incur a higher level of taxable income on capital gains. These effects of higher than normal portfolio turnover may adversely affect Fund performance. With respect to the Domini Impact Bond Fund, investment in mortgage dollar rolls and participation in to-be-announced ("TBA") transactions may significantly increase the Fund's portfolio turnover rate.

**Valuation Risk.** Each Domini Fund may be subject to valuation risk. Many factors may influence the price at which a Fund could sell any particular portfolio investment. The sales price a Fund could receive for any particular portfolio investment may well differ from the Fund's valuation of the investment, and such differences could be significant, particularly for securities that trade in relatively thin markets and/or markets that experience volatility. If markets make it difficult to value some investments, the Fund may value these investments using more subjective methods, such as fair valuation methodologies. These differences may increase significantly and affect Fund investments more broadly during periods of market volatility. Nearly all of the Domini Impact Bond Fund's and Domini Impact International Equity Fund's investments are valued using fair value methodologies. Investors who purchase or redeem Fund shares may receive fewer or more shares or lower or higher redemption proceeds than they would

------

have received if the Fund had not fair-valued securities or had used a different valuation methodology. The value of foreign securities, certain fixed-income securities and currencies, as applicable, may be materially affected by events after the close of the market on which they are traded, but before a Fund determines its net asset value. The ability to value a Fund's investments may be impacted by technological issues and/or errors by pricing services or other third-party service providers. The valuation of a Fund's investments involves subjective judgment, which may prove to be incorrect.

**Redemption Risk.** Each Domini Fund may experience periods of heavy redemptions that could cause the Fund to liquidate its assets at inopportune times or at a loss or depressed value or accelerate taxable gains or transaction costs, particularly during periods of declining or illiquid markets. Redemption risk is greater to the extent that a Fund has investors with large shareholdings, short investment horizons, or unpredictable cash flow needs. In addition, redemption risk is heightened during periods of overall market turmoil. The redemption by one or more large shareholders of their holdings in a Fund could hurt performance and/or cause the remaining shareholders in the Fund to lose money. Further, if one decision maker has control of fund shares owned by separate Fund shareholders, including clients or affiliates of the Fund's adviser, redemptions by these shareholders may further increase the Fund's redemption risk. If a Fund is forced to liquidate its assets under unfavorable conditions or at inopportune times, the Fund's share price could decline.

**Cybersecurity Risk.** Like other funds and business enterprises, each Domini Fund, the Adviser and their service providers are subject to the risk of cyber incidents occurring from time to time. Cybersecurity incidents, whether intentionally caused by third parties or otherwise, may allow an unauthorized party to gain access to Fund assets, Fund or customer data (including private shareholder information) or proprietary information, cause a Fund, the Adviser and/or their service providers (including, but not limited to, the Fund's Subadviser, fund accountants, custodians, sub-custodians, transfer agents and financial intermediaries) to suffer data breaches, data corruption or loss of operational functionality, or prevent Fund investors from purchasing, redeeming or exchanging shares, receiving distributions or receiving timely information regarding the Fund or their investment in the Fund. Each Fund and the Adviser have limited ability to prevent or mitigate cybersecurity incidents affecting third party service providers, and such third party service providers may have limited indemnification obligations to the Fund and the Adviser. Cybersecurity incidents may result in financial losses to a Fund and its shareholders, and substantial costs may be incurred in order to prevent or mitigate any future cybersecurity incidents. Issuers of securities in which the Fund invests are also subject to cybersecurity risks, and the value of these securities could decline if the issuers experience cybersecurity incidents. New ways to carry out cyber attacks continue to develop. There is a chance that some risks have not been identified or prepared for, or that an attack may not be detected, which puts limitations on a Fund's ability to plan for or respond to a cyber attack.

------

Information regarding additional risks of investing in the Domini Funds is set forth below. A Domini Fund may be subject to additional risks other than those described in the Prospectus because the types of investments made by a Fund can change over time. Additional investment policies and risks of the Domini Funds are set forth in the Statement of Additional Information, which is available upon request.

**Emerging Markets Risk.** To the extent that the Domini Impact Equity Fund or Domini Sustainable Solutions Fund (each a Fund) holds companies that are tied economically to emerging market countries, including those in Central and Eastern Europe and/or in the Asia-Pacific region, the Fund will be subject to emerging markets risk.

**Liquidity Risk.** Each Domini Fund may be subject to liquidity risk. Liquidity risk exists when particular investments are or become difficult to purchase or sell. When a Fund holds these types of investments, the Fund's portfolio may be more difficult to value, especially during periods of market turmoil or due to adverse changes in the conditions of a particular issuer. Markets may become illiquid when there are few, if any, interested buyers or sellers or when dealers are unwilling or unable to make a market for certain securities. As a general matter, dealers recently have been less willing to make markets for fixed income securities. During times of market turmoil, there have been, and may be, no buyers for securities in entire asset classes, including U.S. Treasury securities. When a Fund holds illiquid investments, the Fund may be harder to value, especially in changing markets. Investments by the Fund in derivatives, below investment grade securities, foreign securities, and corporate loans tend to involve greater liquidity risk. If a Fund is forced to sell or unwind these investments to meet redemptions or for other cash needs, or to try to limit losses, the Fund may suffer a substantial loss or may not be able to sell at all. A Fund may experience heavy redemptions that could cause the Fund to liquidate its assets at inopportune times or at a loss or depressed value, which could cause the value of your investment to decline. Additionally, the market for certain investments may become illiquid under adverse market or economic conditions independent of any specific adverse changes in the conditions of a particular issuer. In such cases, the Fund, due to limitations on investments in illiquid securities and the difficulty in purchasing and selling such securities, may be unable to achieve its desired level of exposure to certain sectors. The liquidity of certain assets, particularly of privately-issued and noninvestment grade mortgage-backed securities, asset-backed securities and collateralized debt obligations, may be difficult to ascertain and may change over time. Transactions in less liquid or illiquid securities may entail transaction costs that are higher than those for transactions in liquid securities. Further, certain securities, once sold, may not settle for an extended period. A Fund will not receive its sales proceeds until that time, which may constrain the Fund's ability to meet its obligations (including obligations to redeeming shareholders). Liquidity risk may be magnified in an environment of rising interest rates or widening credit spreads in which investor redemptions from fixed income mutual funds may be higher than normal.

------

**Small-Capitalization Companies Risk.** The Domini Impact International Equity Fund (the Fund) may invest in small-capitalization companies. Compared to large- and mid-capitalization companies, small-capitalization companies, and the market for their equity securities, may be more sensitive to changes in earnings results and investor expectations or poor economic or market conditions, including those experienced during a recession, have more limited product lines, operating histories, markets, capital resources and depth of management, experience sharper swings in market values, have limited liquidity, be harder to value or to sell at the times and prices the Adviser or Subadviser thinks appropriate, and offer greater potential for gain and loss. Therefore, securities of small-capitalization companies may be subject to wider and more erratic price fluctuations which may negatively impact the value of your investment in the Fund.

**Zero Coupon Bonds Risk.** With respect to the Domini Impact Bond Fund (the Fund) zero coupon bonds (which do not pay interest until maturity) may be more speculative and may fluctuate more in value than securities which pay income periodically and in cash. These securities are more likely to respond to changes in interest rates than interest-bearing securities having similar maturities and credit quality. These securities are more sensitive to the credit quality of the underlying issuer. Unlike bonds that pay interest throughout the period to maturity, the Fund generally will realize no cash until maturity and, if the issuer defaults, the Fund may obtain no return at all on its investment. In addition, although the Fund receives no periodic cash payments on such securities, the Fund is deemed for tax purposes to receive income from such securities, which applicable tax rules require the Fund to distribute to shareholders. Such distributions may be taxable when distributed to shareholders and, in addition, could reduce the Fund's reserve position and require the Fund to sell securities and incur a gain or loss at a time it may not otherwise want in order to provide the cash necessary for these distributions.

**Derivatives Risk.** With respect to each Domini Fund, using derivatives can increase Fund losses and reduce opportunities for gains when market prices, interest rates, currencies, or the derivatives themselves behave in a way not anticipated by the Fund. Using derivatives also can have a leveraging effect and increase Fund volatility. Certain derivatives have the potential for unlimited loss, regardless of the size of the initial investment. Derivatives may not be available at the time or price desired, may be difficult to sell, unwind or value, and the counterparty may default on its obligations to the Fund. Derivatives are generally subject to the risks applicable to the assets, rates, indices or other indicators underlying the derivative. The value of a derivative may fluctuate more than the underlying assets, rates, indices or other indicators to which it relates. Use of derivatives may have different tax consequences for the Fund than an investment in the underlying security, and those differences may affect the amount, timing and character of income distributed to shareholders. The U.S. government and foreign governments have adopted and implemented or are in the process of adopting and implementing regulations governing derivatives markets, including mandatory clearing of certain derivatives, margin, and reporting requirements. The

------

ultimate impact of the regulations remains unclear. Additional regulation of derivatives may make derivatives more costly, limit their availability or utility, otherwise adversely affect their performance or disrupt markets.

Credit default swap contracts involve heightened risks and may result in losses to the Domini Impact Bond Fund. Credit default swaps may be illiquid and difficult to value. When the Bond Fund sells credit protection via a credit default swap, credit risk increases since the Fund has exposure to both the issuer whose credit is the subject of the swap and the counterparty to the swap.

PORTFOLIO HOLDINGS INFORMATION

A description of the Funds' policies and procedures with respect to the disclosure of the Funds' portfolio securities is available in the Funds' Statement of Additional Information and at *domini.com/funddocuments*. Currently, disclosure of each Fund's holdings is made within 60 days of the end of each fiscal semi-annual period (each July 31 and January 31) and as of the end of its first and third fiscal quarters (each October 31 and April 30). To obtain copies of the Funds' portfolio holdings information free of charge, call 1-800-582-6757. The Funds' portfolio holdings information is also available online at *domini.com/funddocuments* and in publicly available filings on the EDGAR database on the SEC's website, *sec.gov.*

WHO MANAGES THE FUNDS?

#### Investment Adviser
Domini Impact Investments LLC (Domini or the Adviser), 180 Maiden Lane, Suite 1302, New York, NY 10038, has been managing money since November 1997. As of July 31, 2025, Domini managed about $2.3 billion in assets for individual and institutional investors who are working to create positive change in society by using environmental and social standards in their investment decisions. Domini provides the Funds with investment supervisory services, overall operational support, and administrative services.

With respect to the Domini Impact Equity Fund and Domini Sustainable Solutions Fund, Domini uses proprietary environmental and social research to select the Fund's investments. With respect to the Domini Impact International Equity Fund and Domini Impact Bond Fund, Domini uses proprietary environmental and social research to determine which securities are eligible for investment by the Funds' Subadviser. For all Funds, Domini also has authority to determine from time to time what securities are purchased, sold, or exchanged, and what portion of assets are held uninvested.

Domini's environmental and social research is conducted by a team of analysts led by Amy Domini Thornton and Carole Laible. Ms. Domini and Ms. Laible are responsible for approving the sustainability themes for such Funds. The development and oversight of Domini's environmental and social factors is the responsibility of its Standards Committee which may be

------

convened as necessary for interpretation of Domini's environmental and social factors. The Standards Committee currently includes Amy Domini Thornton, Carole Laible, and may include other Domini employees or industry experts.

The Funds employ a "manager of managers" structure under which the Adviser has responsibility to oversee any investment subadvisers and to recommend their hiring, termination, and replacement, subject to the oversight of the Board of Trustees of the Fund (the "Board"). The Funds have obtained an exemptive order from the SEC that permits the Adviser, upon approval of the Board, to change subadvisers without obtaining shareholder approval. Within 90 days of hiring any new subadviser, affected shareholders will be furnished with the information that would be included in a proxy statement regarding a new subadviser. The Adviser will not enter into a subadvisory agreement with an affiliated subadviser without shareholder approval.

Domini has claimed an exclusion from registration as a "commodity pool operator" with respect to the Funds under the Commodity Exchange Act, and therefore is not subject to registration or regulation with respect to the Funds under the Commodity Exchange Act.

#### Investment Subadviser
The Adviser may employ one or more subadvisers who are responsible for the day-to-day management of the Funds' investments, subject to the oversight of the Adviser. Subadvisers are paid out of the fees paid to the Adviser.

#### Domini Impact Equity Fund and Domini Sustainable Solutions Fund
The Adviser employs a subadviser, SSGA Funds Management, Inc. ("SSGA FM" or the "Subadviser"), to purchase and sell securities to implement Domini's investment selections and manage the amount of assets to be held in short-term investments for the Domini Impact Equity Fund (Equity Fund) and Domini Sustainable Solutions Fund (Sustainable Solutions Fund). The Subadviser is paid out of the fees paid to the Adviser.

SSGA FM is a wholly-owned subsidiary of State Street Global Advisors, Inc. which itself is a wholly-owned subsidiary of State Street Corporation ("State Street"), a publicly traded financial holding company organized in Massachusetts. SSGA FM is registered with the U.S. Securities and Exchange Commission ("SEC") under the Investment Advisers Act of 1940, as amended. SSGA FM and certain other advisory affiliates of State Street make up State Street Investment Management, the investment management arm of State Street. As of July 31, 2025, SSGA FM managed approximately $1.19 trillion in assets and State Street Investment Management managed approximately $5.17 trillion in assets. SSGA FM's principal business address is One Congress Street, Boston, Massachusetts 02114.

------

#### Portfolio Managers
Amy Domini Thornton, Carole Laible, and Maria Llerena of Domini, and Kathleen Morgan and Michael Finocchi of State Street Investment Management, are primarily responsible for the day-to-day management of the **Equity Fund**. Ms. Domini, Ms. Laible, and Ms. Llerena are assisted by Domini's research and financial analysts. Ms. Morgan and Mr. Finocchi are assisted by other members of SSGA FM's Systematic Equity Team. Each of Ms. Domini, Ms. Laible, and Ms. Morgan has been a portfolio manager of the Equity Fund since December 1, 2018. Mr. Finocchi has been a portfolio manager of the Equity Fund since November 30, 2024. Ms. Llerena has been a portfolio manager of the Equity Fund since November 30, 2025.

Amy Domini Thornton, Carole Laible, and Maria Llerena of Domini, and Kathleen Morgan and Michael Finocchi of State Street Investment Management, are primarily responsible for the day-to-day management of the **Sustainable Solutions Fund**. Ms. Domini, Ms. Laible, and Ms. Llerena are assisted by Domini's research and financial analysts. Ms. Morgan and Mr. Finocchi are assisted by other members of SSGA FM's Systematic Equity Team. Each of Ms. Domini, Ms. Laible, and Mr. Finocchi has been a portfolio manager of the Sustainable Solutions Fund since April 1, 2020. Ms. Morgan has been a portfolio manager of the Sustainable Solutions Fund since November 30, 2024. Ms. Llerena has been a portfolio manager of the Sustainable Solutions Fund since November 30, 2025.

#### Domini
Amy Domini Thornton, CFA and Co-Manager, is the founder and Chair of Domini. She has served as Chair since 2016 and Chief Executive Officer from 2002 to 2015. Ms. Domini has also served as Chair and Trustee of the Board of Trustees of the Domini Funds from 1990 through 2024 and was President of the Domini Funds from 1990 through 2017. She served as portfolio manager for Domini's separately managed account program from 2013 through 2020. Ms. Domini also serves as a Private Trustee (since 1987) of Loring Wolcott & Coolidge as well as a Partner (since 1994) with Loring Wolcott & Coolidge Fiduciary Advisors LLP, a registered investment adviser. In this capacity she has responsibility for the investments of private trust accounts and works with individuals to integrate social or ethical criteria into their investments.

Carole M. Laible, Co-Manager, is the Chief Executive Officer of Domini (since 2016), President of Domini Funds (since 2017), and Chair and Trustee of the Board of Trustees of the Domini Funds (since 2024). She previously served as the President of Domini from 2005 to 2015, Chief Operating Officer of Domini 2002 to 2011, and served as the Treasurer of the Domini Funds from 1997 through 2017.

Maria Llerena, CFA, is the Director of Financial Research of Domini (since 2024). In this capacity she has led Domini's team of financial analysts (since 2024) and is responsible for overseeing research initiatives

------

to enhance Domini's investment strategies. She also conducts fundamental equity analysis supporting the investment team for the Equity Fund and Sustainable Solutions Fund. She has been working in the investment management field since 1997. Prior to joining Domini, she worked for Neuberger Berman as a global equity analyst and co-portfolio manager (since 1997).

Ms. Domini and Ms. Laible currently serve on Domini's Standards Committee, which may be convened as necessary for interpretation of Domini's environmental and social factors, and in this capacity are responsible for the development and oversight of Domini's environmental and social standards, along with other members of the Committee.

#### SSGA FM
Kathleen Morgan, CFA, is a Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team. In this capacity, she is responsible for the management of various equity index funds that are benchmarked to both domestic and international strategies. Prior to joining State Street Investment Management in 2017, Ms. Morgan worked in Equity Product Management at Wellington Management, conducting independent risk oversight and developing investment product marketing strategy. Prior experience also includes index equity portfolio management at BlackRock.

Michael Finocchi is a Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team. He is responsible for managing a wide variety of equity index and tax-efficient strategies for institutional clients and high net worth individuals. Prior to assuming his current role in March 2012, Mr. Finocchi was a senior manager in Portfolio Administration responsible for the operations of funds managed by the Systematic Equity Team. Before joining State Street Investment Management in 2005, he worked for Investors Bank & Trust as a senior tax analyst following his role in custody servicing.

The Statement of Additional Information contains additional information about the portfolio managers' compensation, other accounts managed by them, and their ownership of the securities of each applicable Fund.

#### Domini Impact International Equity Fund and Domini Impact Bond Fund
The Adviser employs Wellington Management Company LLP ("Wellington Management" or the "Subadviser") as the Subadviser of the Domini Impact International Fund (the "International Equity Fund") and Domini Impact Bond Fund (the "Bond Fund"). Wellington Management is a Delaware limited liability partnership with principal offices at 280 Congress Street, Boston, Massachusetts 02210. Wellington Management is a professional investment counseling firm which provides investment services to investment companies, employee benefit plans, endowments, foundations, and other institutions. Wellington Management and its predecessor organizations have

------

provided investment advisory services for over 80 years. Wellington Management is owned by the partners of Wellington Management Group LLP, a Massachusetts limited liability partnership. Wellington Management provides investment submanagement services to the International and Bond Funds pursuant to Submanagement Agreements with Domini. As of July 31, 2025, Wellington Management and its investment advisory affiliates had investment management authority with respect to approximately $1.292 trillion in assets.

#### Portfolio Managers
Christopher Grohe and Mark Yarger are primarily responsible for the day-to-day management of the **International Equity Fund**. They are assisted by other members of Wellington Management's quantitative management group. Campe Goodman, Samuel Epee-Bounya, and Robert D. Burn are primarily responsible for the day-to-day management of the **Bond Fund**. They are assisted by other members of Wellington Management's US broad market team.

Christopher R. Grohe, CFA, Senior Managing Director, Director of the Quantitative Investments Group of Wellington Management, has been a member of the Quantitative Management Group supporting the Domini Funds since 2005, and has served on the portfolio management team responsible for the **International Equity Fund** since November 2021. Mr. Grohe has been an investment professional with Wellington Management since 2002.

Mark A. Yarger, CFA, Managing Director and Associate Director of Portfolio Management, Quantitative Investment Group of Wellington Management, has been a member of the Quantitative Investment Group since 2005, and has served on the portfolio management team responsible for the **International Equity Fund** since February 2024. Mr. Yarger has been an investment professional with Wellington Management since 2000.

Campe Goodman, CFA, Senior Managing Director, and Fixed-Income Portfolio Manager on the US broad market team of Wellington Management, has served as a portfolio manager responsible for the **Bond Fund** since January 7, 2015. Mr. Goodman joined Wellington Management as an investment professional in 2000 and has served as a Fixed-Income Portfolio Manager on the US broad market team of Wellington Management since 2013.

Samuel Epee-Bounya, Senior Managing Director and Portfolio Manager on the Broad Markets Team of Wellington Management, has served as a portfolio manager responsible for the **Bond Fund** since November 30, 2024. Mr. Epee-Bounya joined Wellington Management as an investment professional and has served on the US broad market team of Wellington Management since 2010.

------

Robert D. Burn, CFA, Senior Managing Director and Fixed Income Portfolio Manager on the Broad Markets Team of Wellington Management, has served as a portfolio manager for the **Bond Fund** since November 30, 2024. Mr. Burn has served as an investment professional with Wellington Management and on the broad market team of Wellington Management since 2007.

The Statement of Additional Information contains additional information about the compensation of the Wellington Management investment professionals, other accounts managed by them, and their ownership of the securities of the applicable Fund.

#### Management, Sponsorship, and Administrative Services Fees
**Domini Impact Equity Fund (Equity Fund).** The Equity Fund pays Domini fees for managing the Fund and for providing certain services. For managing the Equity Fund, Domini's annual fee is equal to 0.20% of the first $2 billion of net assets managed, 0.19% of the next $1 billion, and 0.18% of net assets managed in excess of $3 billion.

Domini, and not the Fund, pays a portion of the management fee it receives from the Fund to SSGA FM as compensation for SSGA FM's subadvisory services to the Fund.

Under the Sponsorship Agreement between Domini and the Equity Fund for administrative services provided to the Fund, Domini's fee is equal to 0.45% of the first $2 billion of net assets managed, 0.44% of the next $1 billion, and 0.43% of net assets managed in excess of $3 billion.

Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Investor, Institutional and Class Y share expenses to 1.09%, 0.74%, and 0.80% through November 30, 2026, absent an earlier modification by the Equity Fund's Board.

During the fiscal year ended July 31, 2025, the Equity Fund paid a total of 0.65% of its average daily net assets, before and after waivers, for investment advisory and administrative services.

Discussions regarding the basis of the Board of Trustees' approval of the continuance of the Equity Fund's Management Agreement with Domini and Submanagement Agreement with SSGA FM, respectively, are available in the Fund's reports filed on Form N-CSR for the fiscal year ended July 31, 2025.

**Domini Sustainable Solution Fund (Sustainable Solutions Fund).** The Fund pays Domini fees for managing the Fund and for providing certain services. For managing the Fund, Domini receives fees at the following rates: 0.85% of the first $500 million of net assets managed, 0.83% of the next $500 million, and 0.80% of net assets managed in excess of $1 billion.

------

Domini, and not the Fund, pays a portion of the management fee it receives from the Fund to the Subadviser as compensation for subadvisory services to the Fund.

Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Investor and Institutional share expenses to 1.30% and 1.05%, respectively, through November 30, 2026, absent an earlier modification by the Fund's Board.

During the fiscal year ended July 31, 2025, the Sustainable Solutions Fund paid a total of 0.85% of its average daily net assets, after waivers, for investment advisory services.

Discussions regarding the basis of the Board of Trustees' approval of the continuance of the Sustainable Solutions Fund's Management Agreement with Domini and Submanagement Agreement with SSGA FM, respectively, are available in the Fund's reports filed on Form N-CSR for the fiscal year ended July 31, 2025.

**Domini Impact International Equity Fund (International Equity Fund).** The International Equity Fund pays Domini fees for managing the Fund and for providing certain services. For managing the International Equity Fund Domini receives fees at the following rates: 0.94% of the first $250 million of net assets managed, 0.83% of the next $250 million of net assets managed, 0.75% of the next $250 million of net assets managed, 0.73% of the next $250 million of net assets managed, and 0.70% of the net assets managed in excess of $1 billion. The current management fee schedule took effect August 1, 2024. From August 1, 2020, through July 31, 2024, Domini received fees at the following rates: 0.96% of the first $250 million of net assets managed, 0.88% of the next $250 million, and 0.785% of net assets managed in excess of $500 million. From May 1, 2017, through July 31, 2020, Domini received fees at the following rates: 0.97% of the first $250 million of net assets managed, 0.92% of the next $250 million, and 0.855% of the next $500 million of net assets managed, and 0.83% of net assets managed in excess of $1 billion. Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Class Y share expenses to 1.12% through November 30, 2026, absent an earlier modification by the Fund's Board.

Domini, and not the International Equity Fund, pays a portion of the management fee it receives from the Fund to Wellington Management as compensation for Wellington's subadvisory services to the Fund.

During the fiscal year ended July 31, 2025, the International Fund paid a total of 0.83% of its average daily net assets, before and after waivers, for investment advisory services.

------

A discussion regarding the basis of the Board of Trustees' approval of the continuance of the International Fund's Management and Submanagement Agreements with Domini and Wellington Management, respectively, is available in the Fund's reports filed on Form N-CSR for the fiscal year ended July 31, 2025.

**Domini Impact Bond Fund (Bond Fund).** The Bond Fund pays Domini fees for managing the Fund and for providing certain services. For managing the Bond Fund, Domini receives fees at the following rates: 0.33% of the first $50 million of net assets managed, 0.32% of the next $50 million of net assets managed, and 0.315% of net assets managed in excess of $100 million.

Under the Administrative Services Agreement between Domini and the Bond Fund, Domini's fee is 0.25% of the average daily net assets of the Fund. Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses) in order to limit Investor, Institutional, and Class Y share expenses to 0.87%, 0.57%, and 0.65%, respectively, through November 30, 2026, absent an earlier modification by the Fund's Board.

Domini, and not the Bond Fund, pays a portion of the management fee it receives from the Fund to Wellington Management as compensation for Wellington's subadvisory services to the Fund.

During the fiscal year ended July 31, 2025, the Bond Fund paid a total of 0.57% of its average daily net assets, after waivers, for investment advisory and administrative services. A discussion regarding the basis of the Board of Trustees' approval of the continuance of the Bond Fund's Management Agreement with Domini and Submanagement Agreement with Wellington Management is available in the Fund's reports filed on Form N-CSR for the fiscal year ended July 31, 2025.

THE FUNDS' DISTRIBUTION PLAN

DSIL Investment Services LLC, a wholly owned subsidiary of Domini, is the distributor of each Fund's shares. Each Fund has adopted a Rule 12b-1 plan with respect to its Investor shares that allows the Fund to pay its distributor on an annual basis for the sale and distribution of the Investor shares and for services provided to shareholders. These annual distribution and service fees may equal up to 0.25% of the average daily net assets of each Fund's Investor shares. The Funds do not pay any distribution fees with respect to the Institutional shares and Class Y shares. Because distribution and service fees are paid out of the assets of the Investor shares, respectively, on an ongoing basis, over time the fee will increase the cost of your investment and may cost you more than paying other types of sales charges.

For more information about the Funds' distribution plan relating to Investor shares, see the expense tables in the "Funds at a Glance" section and the Statement of Additional Information.

------

ADDITIONAL PAYMENTS TO FINANCIAL INTERMEDIARIES

Certain financial intermediaries may request, and the Funds' distributor and/or its affiliates may agree, to make payments in addition to 12b-1 fees and sales charges, if any, out of the distributor's and/or its affiliate's own resources. These additional payments are sometimes referred to as "revenue sharing". These payments assist in the efforts to promote the sale of the Funds' shares. The Funds' distributor and/or its affiliates agree with the financial intermediary on the methods for calculating any additional compensation, which may include the level of sales or assets attributable to the firm. Not all intermediaries receive additional compensation and the amount of compensation varies. These payments could be significant to an intermediary. The Funds' distributor and/or its affiliates determine which financial intermediaries to support and the extent of the payments they are willing to make.

The Funds' distributor and/or its affiliates hope to benefit from revenue sharing by increasing the Funds' net assets, which, as well as benefiting the Funds, would result in additional management and other fees for the investment adviser and its affiliates. In consideration for revenue sharing, an intermediary may include the Funds in its sales system or give access to members of its sales force or management. In addition, the intermediary may provide marketing support, shareholder servicing, and/or other activities. Although an intermediary may seek revenue sharing payments to offset costs incurred by the firm in servicing its clients that have invested in the Funds, the intermediary may earn a profit on these payments.

If you purchase shares though a financial intermediary, revenue sharing payments provide your firm, its employees, or associated persons with an incentive to favor the Funds. **You should ask your firm about any payments it receives from the Funds' distributor, its affiliates, and/or the Funds, as well as about fees and/or commissions it charges.** 

The Funds' distributor and/or its affiliates may have other relationships with various banks, trust companies, broker-dealers, or other financial intermediaries relating to the provision of services to the Funds, such as providing omnibus account services, networking services, transaction processing services, or effecting portfolio transactions for Funds. If your intermediary provides these services, the Funds, the Funds' distributor, and/or its affiliates may compensate the intermediary for these services.

------

SHAREHOLDER MANUAL

*This section provides you with information about how to contact the Funds, how to open an account, how to choose a share class, buying, selling, and exchanging shares of the Funds, how Fund shares are valued, Fund distributions, and the tax consequences of an investment in a Fund.* 

#### **Table of Contents**

---

| | |
|:---|:---|
|  **[For More Information](#a806602_1)** | A-2 |
| &nbsp;&nbsp;&nbsp;&nbsp; *Providing contact information, ticker symbols, and information regarding Fund statements, confirmations, and reports* |  |
|  **[Opening an Account](#a806602_2)** | A-4 |
|  **[Description of Share Classes](#a806602_3)** | A-6 |
|  **[Types of Accounts](#a806602_4)** | A-9 |
|  **[Paper Document Delivery Fee](#a806602_5)** | A-10 |
|  **[Buying, Selling, and Exchanging Shares](#a806602_6)** | A-11 |
| &nbsp;&nbsp;&nbsp;&nbsp; [— Investor Shares](#a806602_7) | A-11 |
| &nbsp;&nbsp;&nbsp;&nbsp; [— Institutional Shares](#a806602_8) | A-15 |
| &nbsp;&nbsp;&nbsp;&nbsp; [— Class Y Shares](#a806602_9) | A-15 |
|  **[Automatic Transaction Plans](#a806602_10)** | A-16 |
|  **[Additional Information on Selling Shares](#a806602_11)** | A-17 |
| &nbsp;&nbsp;&nbsp;&nbsp; *Providing information about signature guarantees, unusual circumstances, large redemptions, redemptions in kind, and market timing* |  |
|  **[How the Price of Your Shares Is Determined](#a806602_12)** | A-21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How can I find out the NAV of my shares?](#a806602_13) | A-21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How do you determine what price I will get when I buy shares?](#a806602_14) | A-21 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How do you determine what price I will get when I sell shares?](#a806602_15) | A-22 |
| &nbsp;&nbsp;&nbsp;&nbsp; [How is the value of securities held by the Funds determined?](#a806602_16) | A-23 |
|  **[Fund Statements and Reports](#a806602_17)** | A-24 |
|  **[Dividends and Capital Gains](#a806602_18)** | A-26 |
|  **[Taxes](#a806602_19)** | A-26 |
|  **[Rights Reserved by the Funds](#a806602_20)** | A-28 |

---

------

#### For More Information
All investors may visit our website at *domini.com* for more information on the following:

• Investing directly in the Funds

• The daily price of Investor shares

• Impact Investing

For Investor share accounts investing directly in the Funds: Once you have established online account access, you may manage and review account information 24 hours a day, 7 days a week, by visiting *domini.com/manage-account.* You may also obtain the price for Investor shares by visiting *domini.com/performance* or by calling **1-800-582-6757**. Shareholder Services personnel are available to take your call on business days, generally 9 a.m. to 6 p.m. Eastern Time.

For Institutional share and Class Y share accounts seeking to invest directly in the Funds: You may also call our Shareholder Services department toll-free at **1-800-582-6757** for additional information.

For Investor shares, Institutional shares, or Class Y shares accounts seeking to invest in the Funds through a financial intermediary or brokerage account, you may call your financial intermediary or brokerage account service organization for additional information. Investment professionals, financial intermediaries, and service organizations may call the Fund Services Department at 1-800-498-1351 for additional information or assistance.

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**FUND NAME** | **SYMBOL** |
| &nbsp;&nbsp;&nbsp;**Domini Impact Equity Fund** | |
| &nbsp;&nbsp;&nbsp;Investor shares | DSEFX |
| &nbsp;&nbsp;&nbsp;Institutional shares | DIEQX |
| &nbsp;&nbsp;&nbsp;Class Y shares | DSFRX |
| &nbsp;&nbsp;&nbsp;**Domini Sustainable Solutions Fund** | |
| &nbsp;&nbsp;&nbsp;Investor shares | CAREX |
| &nbsp;&nbsp;&nbsp;Institutional shares | LIFEX |
| &nbsp;&nbsp;&nbsp;**Domini Impact International Equity Fund** | |
| &nbsp;&nbsp;&nbsp;Investor shares | DOMIX |
| &nbsp;&nbsp;&nbsp;Institutional shares | DOMOX |
| &nbsp;&nbsp;&nbsp;Class Y | DOMYX |
| &nbsp;&nbsp;&nbsp;**Domini Impact Bond Fund** | |
| &nbsp;&nbsp;&nbsp;Investor shares | DSBFX |
| &nbsp;&nbsp;&nbsp;Institutional shares | DSBIX |
| &nbsp;&nbsp;&nbsp;Class Y | DSBYX |

---

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;Account Statements are mailed quarterly or monthly (Institutional shares only). Account statements are also available on our website if you are able to register for online account access. |
| &nbsp;&nbsp;&nbsp;Trade Confirmations are sent after purchases (except for Automatic Investment Plan purchases and dividend reinvestments) and redemptions (except Systematic Withdrawal Plan redemptions). |
| &nbsp;&nbsp;&nbsp;Annual and Semi-Annual Reports are mailed in late September and March, respectively, and are available online at domini.com/funddocuments. |

---

------

OPENING AN ACCOUNT

#### How to Open an Account
1. Read this prospectus (and please keep it for future reference).

2. Review the "Description of Share Classes" and decide which class is appropriate for you.

3. Review "Types of Accounts" and decide which type is appropriate for you. Note that Class Y shares are not available directly to individual investors.

4. Decide how much you want to invest. Please see "Description of Share Class" for minimum initial investment requirements.

5. For Investor shares Domini offers two methods to open an account directly with the Funds:

• Online at *domini.com/manage-account*; or

• By mail (regular mail or overnight delivery). Download or order an application at *domini.com/get-started/* or call us at 1-800-582-6757 to request a copy by mail.

You will need to have your social security number and date of birth for each account owner available to complete the application. (Beneficiary information can be added in the application or later if necessary). Please review "Important Information about Procedures for Opening a New Account".

When opening an account you will need to select the Fund, share class, and account type you wish to invest in.

• For an online account opening you will need to provide electronic payment instructions for an electronic funds transfer via Automated Clearing House ("ACH transfer") from your financial institution, send a personal check payable to Domini Funds by mail along with an investment slip, or arrange for payment from your financial institution via wire along with investment instructions.

• For an account opening by mail you will need to send a personal check payable to Domini Funds along with an investment slip to Domini Funds or arrange for payment from your financial institution via wire along with investment instructions.

To arrange for payment directly from your financial institution via wire, you will need to call 1-800-582-6757 to obtain the Domini Funds information your financial institution will require to process your wire request as set forth in "*Bank Wire or Electronic Funds Transfer".* 

You will also be able to set up regularly scheduled automatic investments or withdrawals. For more information see "Automatic Transaction Plans".

Please note that SEP and SIMPLE IRAs must be opened by mail. Representatives of trusts, corporations, or other legal entities will also need to submit an application via mail.

------

For more information see "Buying, Selling, and Exchanging Shares — Investor Shares".

6. For Institutional shares and Class Y shares follow the applicable instructions under "Buying, Selling, and Exchanging —" Institutional Shares or Class Y Shares.

When using a paper application to open an account directly with the Funds be sure to completely fill out and sign the Account Application appropriate for the account type and share class you have selected. If you need assistance, please call 1-800-582-6757, business days, generally 9 a.m. to 6 p.m. Eastern Time.

For more information on transferring assets from another mutual fund family, please call 1-800-582-6757.

&nbsp;&nbsp; **What Is "Good Order"?**<br>Purchase, exchange, and sale requests must be in "good order" to be accepted by a Fund. To be in "good order" a request must include the following:<br>•  The Fund name and account number<br>•  The receipt of payment for purchase of shares by check, wire, electronic funds transfer via Automated Clearing House ("ACH transfer"), or the amount of the transaction (in a specific dollar amount, number of shares, or percentage of account value) for the exchange or sale.<br>•  Name, address, and other information that will allow us to identify you<br>•  The signatures of all owners exactly as registered on the account (for redemption requests by mail)<br>•  For corporate or institutional accounts, a certified copy of a current list of authorized signatories or a related certified corporate resolution, as applicable<br>•  A Medallion Signature Guarantee, if required (see "Additional Information on Selling Shares")<br>•  Any other supporting legal documentation that may be required<br>Exchange and sale requests that exceed the available balance or number of shares in the account will be rejected.<br>

#### Important Information about Procedures for Opening a New Account
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens a new account. What this means for you: When you open a new account, you will be asked to provide your name, residential address, date of birth, Social Security number, and other information that identifies you. You may also be asked to show your driver's license or other identifying documents.

For businesses and other entities seeking to open an account or establish a relationship, federal law requires us to obtain, verify, and record information that identifies each business or entity. What this means for you: When you

------

open an account or establish a relationship, we will ask for your business name or other entity name, a street address, and a tax identification number, and information about certain owners and officers, which federal law requires us to obtain.

If a Fund is not adequately able to identify you, or certain owners or officers, within the time frames set forth in the law, your shares may be automatically redeemed. If the net asset value per share has decreased since your purchase, you will lose money as a result of this redemption. You may also incur any applicable charges and expenses.

DESCRIPTION OF SHARE CLASSES

The Domini Impact Equity Fund and Domini Impact International Equity Fund each offer three classes of shares: Investor, Institutional, and Class Y shares. The Domini Sustainable Solutions Fund offers two classes of shares: Investor shares and Institutional shares. The Domini Impact Bond Fund offers three classes of shares: Investor shares, Institutional, and Class Y shares. As described herein, each share class has its own cost structure and eligibility requirements, allowing you to choose the one that best meets your needs, subject to the eligibility requirements. The Funds, the Adviser, and/or its affiliates may modify the qualifications for purchase of each class of shares at any time.

The Investor shares have adopted a Rule 12b-1 plan that allows the class to pay distribution fees for the sale and distribution of its shares and for providing services to shareholders. Because these fees are paid out of a Fund's assets on an ongoing basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges.

Dealers and other financial intermediaries purchasing shares for their customers in omnibus accounts are responsible for compliance with class eligibility restrictions.

Your investment professional or financial intermediary may receive different compensation depending upon which class you choose and may impose their own investment fees and practices for purchasing and selling Fund shares, which are not described in this prospectus or in the SAI. Consult your investment professional or financial intermediary about the availability of Fund share classes, the investment professional or financial intermediary's practices, and other information.

Please note that the Funds do not charge any front-end sales charge, contingent deferred sales charge or asset-based fee for sales or distribution of Institutional or Class Y shares. However, if you invest in Institutional or Class Y shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission or asset-based fee in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

------

Because the Funds are not a party to any compensation arrangement between you and your investment professional or financial intermediary, any purchases and redemptions of Institutional or Class Y shares will be made by a Fund at the applicable net asset value (before imposition of any sales commission or asset-based fee). Any commissions or asset-based fees charged by an investment professional or financial intermediary are not reflected in the fees and expenses listed in each Fund's fee table or expense example in this prospectus nor are they reflected in each Fund's performance in the bar chart and table in this prospectus because such amounts are not charged by the Funds.

If you purchase Fund shares through a broker-dealer or other financial intermediary or financial institution that has entered into an agreement with the Fund's distributor or affiliates, your transaction may be subject to transaction and other charges or investment minimums established by that entity. Investors in the Funds do not pay such charges if shares are purchased directly from the Funds.

#### INVESTOR SHARES
• No front-end sales charge.

• Distribution and service (12b-1) fees of 0.25%.

• The minimum *initial* investment in each Fund is as follows:

• $2,500 for regular accounts ($1,500 if using our Automatic Investment Plan)

• $1,500 for Retirement Accounts, UGMA/UTMA Accounts, and Coverdell Education Savings Accounts (Automatic Investment Plan also available)

• Each Fund may waive minimums for initial purchases for investors who purchase shares through omnibus accounts.

------

#### INSTITUTIONAL SHARES
• No front-end sales charge. However, if you invest in Institutional shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission or asset-based fee in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

• No 12b-1 fees.

• May only be purchased by or for the benefit of investors that meet the minimum investment requirements, have been approved by the distributor, and fall within the following categories: endowments, foundations, religious organizations, and other nonprofit entities, individuals, retirement plan sponsors, family office clients, private trusts, certain corporate or similar institutions, or omnibus accounts maintained by financial intermediaries.

• The minimum *initial* investment is $500,000.

• Investors may meet the minimum initial investment amount by aggregating up to three separate accounts within the Institutional share class of a Fund.

• Accounts will not generally be established for omnibus or other accounts for which Domini provides recordkeeping and other shareholder service payments or for which the Fund is required to pay any type of administrative payment per participant account.

#### CLASS Y SHARES
• No front-end sales charge. However, if you invest in Class Y shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission or asset-based fee in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

• No 12b-1 fees.

• Generally available only through omnibus accounts held on the books of the Fund for financial intermediaries that have been approved by the Funds' distributor.

• Also available to endowments, foundations, religious organizations, or other tax-exempt entities, as well as, certain eligible retirement and benefit plans, including 401(k) plans, 457 plans, profit sharing and money purchase pension plans, defined benefit plans, and nonqualified deferred compensation plans. The sponsors of these retirement plans provide various shareholder services to the accounts.

• No investment minimum.

------

TYPES OF ACCOUNTS

You may invest in the Funds through the following types of accounts:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Individual and Joint**<br> **Accounts (nonretirement)** | Invest as an individual or with one or more people. If you are opening a joint account, joint tenancy with rights of survivorship will be assumed unless other ownership is noted on your Account Application. You may also open an account to invest assets held in an existing personal trust. |
| &nbsp;&nbsp;&nbsp;**Individual Retirement Accounts (IRAs)** | An individual may open an account to fund a traditional IRA or a Roth IRA, subject to IRS eligibility rules and limits. Custodian and other account level fees will apply. |
| &nbsp;&nbsp;&nbsp;**Uniform Gifts/Transfers to Minors Act (UGMA/UTMA) Accounts** | These accounts are maintained by a custodian you choose (which may be you) on behalf of a minor. They provide a simple method for giving irrevocable gifts to children without having to establish a formal trust. |
| &nbsp;&nbsp;&nbsp;**Coverdell Education Savings Accounts (formerly <br>Education IRAs)** | These accounts may be established on behalf of any child with a Social Security number and are used to save for higher education expenses. Custodian and other account level fees will apply. |
| &nbsp;&nbsp;&nbsp;**Employer-Sponsored Retirement and Benefit Plans** | You may be able to open an account for or as part of an employer-sponsored retirement or benefit plan, such as a 401(k) plan, SEP-IRA, or SIMPLE IRA. Custodian and other account level fees will apply. |
| &nbsp;&nbsp;&nbsp; **For an Organization/**<br> **Omnibus Accounts** | An authorized representative may open an account for a trust, corporation, partnership, endowment, foundation, or other entity.<br>Financial intermediaries may invest through omnibus accounts held on the books of the Funds. Individuals may only invest in an omnibus account through financial intermediaries which maintain an omnibus account on the books of the Fund. |

---

------

PAPER DOCUMENT DELIVERY FEE

An annual paper document delivery fee of $15 is deducted from each direct Domini Fund account that has a balance below $10,000. This fee is charged to help defray the significant costs associated with printing and mailing paper statements and documents for each account.

**You may avoid this paper document delivery fee by choosing paperless e-delivery of statements, prospectuses, shareholder reports, and other materials for each of your Fund accounts.** 

To sign up for e-delivery, you must first establish online account access. Visit *domini.com/manage-account* to register. Once you are logged on to your account, select "Document Delivery Settings" option. You can then choose e-delivery for various documents and provide your e-mail address. See "Fund Statements and Reports — E-Delivery" for more information.

The paper document delivery fee applies to both retirement and nonretirement Fund accounts held directly with Domini. The paper document delivery fee, which will be collected by redeeming Fund shares in the amount of $15, will be deducted from a Fund account only once per calendar year (generally December). The fee will be assessed based on your account balance as of the day account balances are reviewed and will not take into account your average account balance for the year.

The paper document delivery fee will not be deducted on accounts held through intermediaries or participant accounts in employer-sponsored defined contribution plans.

At its discretion, Domini reserves the right to waive or modify the paper document delivery fee at any time.

------

BUYING, SELLING, AND EXCHANGING INVESTOR SHARES

The following chart describes all the ways you can buy, sell, and exchange Investor shares of the Domini Funds in accounts held directly with the Funds. If you need any additional information or assistance, please call 1-800-582-6757 business days, generally 9 a.m. to 6 p.m. Eastern Time.

---

| | | |
|:---|:---|:---|
| **METHOD** | **INSTRUCTIONS** | **INSTRUCTIONS** |
| **Mail**<br> By Mail you may:<br> **Buy**<br> **Sell<sup>7,8</sup>**<br> **Exchange** | For regular mail:<br> Domini Funds<br> P.O. Box 46707<br> Cincinnati, OH 45246-0707 | For overnight delivery only:<br> Domini Funds<br> c/o Ultimus Fund Solutions, LLC<br> 225 Pictoria Drive, Suite 450<br> Cincinnati, OH 45246 |
|  | *To buy shares by mail:*<br> •  For your *initial investment*, complete an Account Application and mail it with your personal check, or arrange for a bank wire (see "Bank Wire or Electronic Funds Transfer via ACH").<br>•  For *subsequent investments*, fill out the investment slip included with trade confirmations, account statements, or printed from *domini.com/accountforms*, or send a note with your check indicating the Fund name, the account number, and the dollar amount, or arrange for a bank wire, (see "Bank Wire or Electronic Funds Transfer via ACH").<br>•  Your check must be made payable to ''Domini Funds.'' Always include your account number on your check. Note: To comply with anti-money laundering rules and for our mutual protection, the Funds generally do not accept cash or cash equivalents. For example, cash, cashier's checks, bank official checks, certified checks, bank money orders, third party checks (except for properly endorsed IRA transfer and rollover checks), counter checks, starter checks, traveler's checks, money orders, credit card checks, and checks drawn on non-U.S. financial institutions will generally not be accepted.<br>•  Please note that if you purchase shares by check and you sell those shares soon after purchase, your redemption proceeds will not be sent to you until your check clears, which may take up to 10 calendar days after purchase.<br>*To sell shares by mail* (you must include the following information in your written instruction, or your request may be returned):<br>•  The Fund name<br>•  The Fund account number<br>•  The dollar amount or number of shares<br>•  The signatures of all necessary authorized signers exactly as they appear on the initial application<br>•  A Medallion Signature Guarantee, if required (see "Additional Information on Selling Shares")<br>•  Additional supporting documentation may be required for certain types of accounts of circumstances | *To buy shares by mail:*<br> •  For your *initial investment*, complete an Account Application and mail it with your personal check, or arrange for a bank wire (see "Bank Wire or Electronic Funds Transfer via ACH").<br>•  For *subsequent investments*, fill out the investment slip included with trade confirmations, account statements, or printed from *domini.com/accountforms*, or send a note with your check indicating the Fund name, the account number, and the dollar amount, or arrange for a bank wire, (see "Bank Wire or Electronic Funds Transfer via ACH").<br>•  Your check must be made payable to ''Domini Funds.'' Always include your account number on your check. Note: To comply with anti-money laundering rules and for our mutual protection, the Funds generally do not accept cash or cash equivalents. For example, cash, cashier's checks, bank official checks, certified checks, bank money orders, third party checks (except for properly endorsed IRA transfer and rollover checks), counter checks, starter checks, traveler's checks, money orders, credit card checks, and checks drawn on non-U.S. financial institutions will generally not be accepted.<br>•  Please note that if you purchase shares by check and you sell those shares soon after purchase, your redemption proceeds will not be sent to you until your check clears, which may take up to 10 calendar days after purchase.<br>*To sell shares by mail* (you must include the following information in your written instruction, or your request may be returned):<br>•  The Fund name<br>•  The Fund account number<br>•  The dollar amount or number of shares<br>•  The signatures of all necessary authorized signers exactly as they appear on the initial application<br>•  A Medallion Signature Guarantee, if required (see "Additional Information on Selling Shares")<br>•  Additional supporting documentation may be required for certain types of accounts of circumstances |

---

------

---

| | |
|:---|:---|
| **METHOD** | **INSTRUCTIONS** |
| **Mail**<br> (Continued) | *To exchange shares by mail* (selling shares of one Domini Fund and using the proceeds to purchase shares of another Domini Fund), you must include the following information, or your request may be returned:<br>•  The Fund names<br>•  The Fund account numbers<br>•  The dollar amount or number of shares<br>•  The signatures of all necessary authorized signers exactly as they appear on the initial application<br>The Domini Funds and their transfer agent do not consider the U.S. Postal Service or other independent delivery services to be their agents. Therefore, deposit in the mail or with such services or receipt of transaction requests at the Domini Funds' regular mail address does not constitute receipt by the transfer agent or the Domini Funds. Accordingly, there may be a delay in receipt of transaction requests submitted to the Domini Funds' regular mail or overnight delivery addresses referenced above. |
| **Online<sup>2,3,9</sup>**<br> Online you may:<br> **Buy**<br> **Sell<sup>7,8</sup>**<br> **Exchange** | You may communicate orders to buy, sell,\* and exchange shares online 24 hours a day\*\* by following these steps:<br>•  Visit *domini.com/manage-account* to open a new account or access your existing account online.<br>•  To buy shares online, you will need to establish bank instructions on your account. To do this while opening a new account online, have your bank details ready and follow the on-screen instructions.<br>To add or change bank instructions for an existing account, you may add, update, and verify your bank instructions online by accessing your existing account at *domini.com/manage-account*.<br>Alternatively, you may submit a Wire/ACH Processing Form by mail, which can be downloaded at *domini.com/accountforms*, or submit a written request that contains the following information:<br>•  Bank name and address<br>•  ABA/routing number<br>•  Account Name and Number<br>•  Account type (checking, money market, or savings) and a voided check, if applicable<br>Your signature on the Wire/ACH Processing Form or other written request must be accompanied by a Medallion Signature Guarantee, which can be obtained at a local bank or other financial firm (see "Additional Information on Selling Shares" for more information).<br>To buy, sell, or exchange Fund shares online in an existing account, please go to *domini.com/manage-account* to access your existing account. A letter of instruction with a Medallion Signature Guarantee may be required for sales or exchanges if bank instructions have recently been added or changed (see "Additional Information on Selling Shares").<br>Online help is available at each screen. |

---

\* Online distribution requests are not available for Coverdell Education Savings Accounts.

\*\* Access to the online account management system may be limited during periods of peak demand, market volatility, system upgrades or maintenance, or for other reasons. Your transaction will be processed as of the first business day it is deemed to be in good order before the close of trading (normally 4 p.m. Eastern Time each business day). 

------

---

| | |
|:---|:---|
| **METHOD** | **INSTRUCTIONS** |
| **Phone<sup>1,2,3,4,5,6</sup>**<br> By Phone you may:<br> **Buy**<br> **Sell<sup>7,8</sup>**<br> **Exchange** | Speak to a live Shareholder Services Representative:<br>Current shareholders may buy, sell, and exchange shares by calling 1-800-582-6757, business days, generally 9 a.m. to 6 p.m. Eastern Time. Follow the prompts and choose option "2" to speak with a representative.<br>Your transaction will be processed as of the first business day it is deemed to be in good order before the close of trading (normally 4 p.m. Eastern Time each business day). |
| **Bank Wire or <br>Electronic Funds <br>Transfer via ACH<sup>2,3</sup>**<br> By Bank Wire or <br>Electronic Funds <br>Transfer you may:<br> **Buy**<br> **Sell<sup>7,8</sup>** | *To buy shares:*<br>For your initial investment, you may open an account and arrange for an electronic funds transfer via Automated Clearing House ("ACH transfer") online at *domini.com/manage-account*.<br>For initial investments by wire, note that an account application must be completed online or signed and returned by mail to the Domini Funds before payment by wire can be arranged.<br>Before requesting a wire call 1-800-582-6757, business days, generally 9 a.m. to 6 p.m. Eastern Time, to obtain the necessary Domini Funds information your financial institution will require to process your request.<br>*To sell shares:*<br>If you have had banking instructions established on your account for at least 30 days, you may request receipt of redemption proceeds by wire or via ACH transfer online, in writing, or by speaking with a Shareholder Services representative at 1-800-582-6757, business days, generally 9 a.m. to 6 p.m. Eastern Time. A letter of instruction with a Medallion Signature Guarantee may be required if bank instructions have recently been added or changed (see "Additional Information on Selling Shares"). Alternatively, redemption proceeds may be sent to you by check to the address of record.<br>If you would like to establish privileges for ACH transfer or update the ACH transfer instructions for an account online, you may add, update, and verify your banking information (for participating financial institutions) by accessing your online account at *domini.com/manage-account*.<br>If you would like to establish privileges for wire redemption or ACH transfer or change the redemption proceeds delivery instructions for an existing account by mail, you must fill out and submit the Wire/ACH Processing Form available at *domini.com/accountforms* or submit a written request that contains the following information:<br>•  Bank name and address<br>•  ABA/routing number<br>•  Account name and number<br>•  Account type (checking, money market, or savings) and a voided check, if applicable<br>Your signature on the Wire/ACH Processing Form or other written request must be accompanied by a Medallion Signature Guarantee, which can be obtained at a local bank or other financial firm (see "Additional Information on Selling Shares" for more information).<br>There is a $15 outgoing wire transfer fee (deducted directly from sale proceeds). The wire transfer fee may be waived for certain individuals and institutions at Domini's discretion. ACH transfers have no outgoing fee, but it may take at least two business days for the funds to reach your bank account. |

---

------

(1) Neither the Funds nor their transfer agent, distributor, agents, or affiliates will be liable for any loss, liability, cost, or expense for acting on telephone instructions believed to be genuine. The Funds, or their transfer agent, or both, will employ reasonable procedures to confirm that instructions communicated by telephone are genuine. These procedures may include, among other things, requiring forms of personal identification prior to acting upon telephone instructions, providing written confirmation of the transactions and/or recording telephone instructions.

(2) After establishing electronic funds transfer via Automated Clearing House ("ACH transfer") privileges, shareholders may place ACH transfer orders by telephone or online. All electronic deposits are subject to review. ACH transfer orders received in good order by the Fund before the close of regular trading (normally 4 p.m. Eastern Time on a day that the NYSE is open for trading) are priced at that day's net asset value.

(3) Sales (redemptions) exceeding $100,000 must be requested in writing (see "Buying, Selling, and Exchanging Shares by Mail" and "Additional Information on Selling Shares" for more information) and generally require a medallion signature guarantee.

(4) The telephone redemption privilege is automatically available to new accounts. If you do not want the telephone redemption privilege, you must indicate this in the appropriate area on your account application or you must write to the Funds and instruct us to remove this privilege from your account. If you own an IRA, you will be asked whether or not the Fund(s) should withhold federal income tax at the time of each distribution request.

(5) During periods of high market activity, you may encounter higher than usual wait times. Please allow sufficient time to ensure that you will be able to complete your telephone transaction prior to market close. Neither the Funds nor their transfer agent, distributor, agent, or affiliates will be held liable if you are unable to place your trade due to high call volume.

(6) The Funds reserve the right to suspend the telephone redemption privileges with respect to your account if the name(s) or the address on the account has been changed within the previous 30 days.

(7) If you own an IRA or other retirement plan, you must indicate on your distribution request whether the Fund should withhold federal income tax. Unless you elect in your distribution request that you do not want to have federal tax withheld, the redemption will be subject to withholding.

(8) Shares purchased by electronic funds transfer via Automated Clearing House ("ACH transfer") are not immediately available for redemption. Note that the delivery of redemption proceeds related to shares purchased and funded by ACH transfer may be limited to the bank account associated with the ACH transfer funding the purchase.

(9) You automatically have the ability to establish online transaction privileges unless you decline the privileges on your New Account Application or IRA Application. For accounts opened online, you will be required to enter into a user's agreement through the Funds' online account management system in order to establish online transaction privileges. To purchase shares through the Funds' online account management system, you must establish bank instructions on your account. Redemption proceeds may be sent to you by check to the address of record, or if your account has had existing bank information established for at least 30 days, by wire or ACH. Only bank accounts held at domestic financial institutions that are ACH members can be used for transactions through the Funds' online account management system. Transactions through the online account management system are subject to the same restrictions as other transaction methods. Please call 800-582-6757 for assistance in establishing online account access.

------

You should be aware that the internet is an unsecured, unstable, unregulated and unpredictable environment. Your ability to use an online account for transactions is dependent upon the internet and equipment, software, systems, data and services provided by various vendors and third parties. While the Funds and their service providers have established certain security procedures, the Funds, their transfer agent, distributor, agents, and affiliates, cannot assure you that trading information will be completely secure. <br>

There may also be delays, malfunctions, or other inconveniences generally associated with this medium. There also may be times when online account access is unavailable for Fund transactions or other purposes. Should this happen, you should consider purchasing or redeeming shares by another method. Neither the Funds nor their transfer agent, distributor, agents, or affiliates will be liable for any such delays or malfunctions or unauthorized interception or access to communications or account information. <br>

Existing shareholders may exchange all or a portion of their Fund shares into shares of the same class of any other available Domini Fund. All exchanges must meet applicable minimum investment requirements.

<br> <u>IMPORTANT: Once a redemption order is placed, the transaction cannot be cancelled by the shareholder.</u>

BUYING, SELLING, AND EXCHANGING INSTITUTIONAL SHARES

For information regarding the ways you can buy, sell, and exchange Institutional shares in an account held directly with the Funds please call 1-800-582-6757. Institutional shares are purchased at net asset value with no front-end sales charge and no contingent deferred sales charge when redeemed. However, if you invest in Institutional shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission or other fee in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

BUYING, SELLING, AND EXCHANGING CLASS Y SHARES

For information regarding the ways you can buy, sell, and exchange Class Y shares of the Domini Impact Equity Fund, Domini Impact International Equity Fund or Domini Impact Bond Fund in an account held directly with the Funds please call 1-800-582-6757. Class Y shares are purchased at net asset value with no front-end sales charge and no contingent deferred sales charge when redeemed. However, if you invest in Class Y shares through an investment professional or financial intermediary, that investment professional or financial intermediary may charge you a commission or other fee in an amount determined and separately disclosed to you by that investment professional or financial intermediary.

------

AUTOMATIC TRANSACTION PLANS

Automatic transaction plans are available for your convenience to purchase or to sell Investor, Institutional, and Class Y shares at specified intervals without having to manually initiate each transaction.

#### Automatic Investment Plan – Investor, Institutional, and Class Y shares
For accounts held directly with the Funds, you may authorize a Fund to have specified amounts automatically deducted from your bank account to purchase shares in a Fund in weekly, monthly, quarterly, semi-annual, or annual intervals. The initial investment minimum is $1500 for Investor share purchases through Automatic Investment Plans. This service can be established for your account at any time. For accounts invested directly with the Funds, visit *domini.com/accountforms* to access an Automatic Investment Plan form for printing and return by mail or access your online account at *domini.com/manage-account* to establish or amend Automatic Investment Plan instructions. There is no charge to participate in the Funds' Automatic Investment Plan. You may call 1-800-582-6757 for more information.

Please note that shares purchased by electronic transfer via Automated Clearing House ("ACH transfer") are not immediately available for redemption pending confirmation of receipt of payment and the delivery of redemption proceeds associated with ACH transfer related purchases may be limited to the bank account associated with the ACH transfer funding the purchase.

Each Fund reserves the right to change the terms and conditions of the Automatic Investment Plan and may cease offering the Plan at any time. Also, due to the varying procedures to prepare, process, and forward the bank withdrawal information to the Funds, there may be periodic delays in posting the funds to your account. You may also be able to establish an automatic purchase arrangement for accounts held through a financial intermediary or brokerage account service organization. Such entities may charge you a fee to participate in their automatic investment arrangements. You may call your financial intermediary or brokerage account service organization for more information. If you do not have an appropriate contact with your financial intermediary or brokerage account service organization, call Fund Services at 1-800-498-1351.

#### Systematic Withdrawal Plan – Investor, Institutional, and Class Y shares
For accounts held directly with the Funds, you may authorize by written or online instruction a Fund to establish a Systematic Withdrawal Plan under which shares will be sold, at net asset value, in the amount and for the periods specified. There is no charge to participate in the Funds' Systematic Withdrawal Plan. You may call 1-800-582-6757 for more information.

------

Each Fund reserves the right to change the terms and conditions of the Systematic Withdrawal Plan and may cease offering the Plan at any time.

You may also be able to establish a systematic withdrawal arrangement for accounts held through a financial intermediary or brokerage account service organization. Such entities may charge you a fee to participate in their systematic withdrawal arrangements. You may call your financial intermediary or brokerage account service organization for more information. If you do not have an appropriate contact with your financial intermediary or brokerage account service organization, call Fund Services at 1-800-498-1351.

&nbsp;&nbsp; **Dollar-Cost Averaging**<br>Dollar-cost averaging is a long-term investment strategy designed to avoid the pitfalls of timing the market by investing equal amounts of money at regular intervals (monthly, quarterly, and so on) over a long period of time.<br>Although the strategy doesn't assure a profit or protect against a loss, the idea behind dollar-cost averaging is that over time an investor buys more shares at lower prices, and fewer shares at higher prices.<br>The key to dollar-cost averaging is to stick with it for the long term, through periods of rising and falling markets. Strictly adhering to a long-term dollar-cost averaging strategy can help to avoid the mistake of investing all of your money when the market is high. Before using this strategy, investors should consider their financial ability to continue making purchases in a declining market.<br>To facilitate dollar-cost averaging you may purchase Fund shares at regular intervals through the Fund's Automatic Investment Plan, if available.<br>

ADDITIONAL INFORMATION ON SELLING SHARES

#### Share Class Conversions (Same Fund)
Certain shareholders may be eligible to convert their shares of a Fund for another class of shares of the same Fund. If eligible, no charges will apply to any such exchange. Generally, shareholders will not recognize a gain or loss for federal income tax purposes upon such an conversion. Investors should contact Shareholder Services, their intermediary or service organization as applicable, to learn more about the details of this privilege. You should consult your own tax adviser about your particular situation and the status of your account under federal, state, and local laws.

#### Signature Guarantees
To protect your account from fraud, you are required to obtain a Medallion Signature Guarantee from a participating institution in certain circumstances, including for any of the following:

• Sales (redemptions) exceeding $100,000

• Sales made within 30 days following any changes in account address

------

• Sales proceeds to be sent to a third party or to an address other than the address for which the account is registered, unless such information already has been established on your account

• Sales proceeds to a bank account, unless bank instructions already have been established on your account for at least 30 days

• Change to the account name on your account

• For accounts opened online and funded via ACH, sale (redemption) proceeds to be delivered by check, or to a bank account other than the account from which an ACH purchase originated, as required by the Funds or their transfer agent.

The following types of institutions may participate in the Medallion Signature Guarantee program:

• Banks

• Savings institutions

• Credit unions

• Broker-dealers

• Other guarantors acceptable to the Funds and their transfer agent

The Funds and their transfer agent cannot accept guarantees from notaries public or organizations that do not provide reimbursement in the case of fraud. Medallion limits may vary. Please ensure you obtain the proper Medallion. The Funds or their transfer agent may, at their option, request further documentation prior to accepting requests for redemptions.

The Funds may allow Institutional share investors to waive the protection of being required to obtain a Medallion Signature Guarantee for sales requests exceeding $100,000, provided that all the following conditions are met:

• No changes have been made to the applicable account registration within 30 days prior to the request.

• The request is signed in exactly the same way the account is registered, by all necessary registered owners or authorized signers, as applicable.

• The proceeds are directed to an address for which the account is registered or another authorized address on file (e.g., a bank previously authorized by the registered owner).

• A resolution of the registered owner, or similar supporting documentation acceptable to the Fund, authorizing the election of this waiver has been provided.

An Institutional share investor can elect to waive the Medallion Signature Guarantee requirement on a new account, by filling out the appropriate area on the Account Application, and providing a Medallion Signature Guarantee, and a resolution of the registered owner (or similar supporting documentation acceptable to the Fund) authorizing such election. For existing accounts, if

------

you would like to establish this waiver, you must fill out a Medallion Signature Guarantee Waiver form, accompanied by a Medallion Signature Guarantee and a resolution of the registered owner (or similar supporting documentation acceptable to the Fund) authorizing such election.

Neither the Fund, its transfer agent, Domini, nor any of their agents or affiliates will be liable for any loss, liability, cost, or expense for acting upon any written sales request subject to a Medallion Signature Guarantee waiver election reasonably believed to be genuine. Please contact the Fund if you wish to suspend this waiver.

#### Unusual Circumstances
Each Fund reserves the right to revise or terminate the telephone or the online redemption privilege at any time, without notice. If a Fund suspends telephone redemption privileges, or if you have difficulty getting through on the phone, you will still be able to redeem your shares through the other methods listed above.

Each Fund may postpone payment of redemption proceeds under either of these circumstances:

• During any period in which the NYSE is closed or in which trading is restricted

• If the SEC determines that an emergency exists

#### Large Redemptions
It is important that you call the Funds before you redeem any amount in excess of $500,000. We must consider the interests of all Fund shareholders and so reserve the right to delay delivery of your redemption proceeds — up to 7 days — if the amount to be redeemed will disrupt a Fund's operation or performance.

In an effort to protect the Funds from the possible adverse effects of a substantial redemption in a large account, as a matter of general policy no shareholder or group of shareholders controlled by the same person or group of persons will knowingly be permitted to purchase in excess of 5% of the outstanding shares of a Fund, except upon approval of the Adviser.

#### Redemptions in Kind
Each Fund reserves the right to pay part or all of the redemption proceeds in kind, i.e., in securities, rather than cash. If a Fund redeems in kind, it generally will deliver to you a proportionate share of the portfolio securities owned by the Fund. Securities you receive this way may increase or decrease in value while you hold them and you may incur brokerage and transaction charges and tax liability when you convert the securities to cash.

------

#### Market Timing
The Funds are long-term investments. Market timers, who buy and sell rapidly in the hopes of making a short-term profit, drive up costs for all other shareholders, including long-term shareholders who do not generate these costs. Market timers can disrupt portfolio investment strategies, for example by causing a portfolio manager to sell securities to meet a redemption request when the manager might otherwise have continued to hold the securities, and may increase a Fund's transaction costs, such as brokerage expenses. Each of the Domini Impact International Equity Fund and Domini Sustainable Solutions Fund may be more susceptible to market timing by investors seeking to take advantage of time zone arbitrage opportunities when events affecting the value of the Fund's portfolio occur after the close of the overseas markets but prior to the close of the U.S. market and the calculation of the Fund's NAV. **Do not invest with the Domini Funds if you are a market timer.** 

The Funds' Board of Trustees has approved methods for the fair valuation of securities held in each Fund's portfolio in an effort to deter market timing activities. Please see "How the Price of Your Shares Is Determined — How is the value of securities held by the Funds determined?" for more information.

In addition, the Funds' Board of Trustees has adopted policies and procedures that are designed to discourage and detect excessive trading and market timing activities. These policies and procedures provide that Domini reviews transactions in excess of certain thresholds to monitor trading activity. If Domini suspects a pattern of market timing, we may reject the transaction, close the account, and/or suspend or terminate the broker, if possible, to prevent any future activity. The Funds do not knowingly accommodate excessive trading and market timing activities.

In certain circumstances, a financial intermediary, such as a broker, adviser, retirement plan, or third-party administrator, will hold Fund shares on behalf of multiple beneficial owners in an omnibus account. The Funds do not know the identity of shareholders who hold shares through an omnibus account and must rely on the systems of the financial intermediary for that information. Consequently, the Funds' ability to monitor trading or detect market timing in omnibus accounts may be limited. The Funds' distributor, in accordance with applicable law, enters into agreements with financial intermediaries that require the intermediaries to provide certain information to the Funds to help identify excessive trading activity and to restrict or prohibit future purchases or exchanges of Fund shares by shareholders identified as having violated the Funds' policies.

Financial intermediaries may apply purchase and exchange limitations that are different from the limitations imposed by the Funds. If you purchase, exchange, or sell Fund shares through a financial intermediary, you should check with your intermediary to determine what purchase and exchange limitations are applicable to your transactions.

Because the Funds may not be able to detect all instances of market timing, there is no guarantee that the Funds will be able to identify, deter, or eliminate all market timing or excessive trading of Fund shares.

------

HOW THE PRICE OF YOUR SHARES IS DETERMINED

The price of your shares is based on the net asset value of the applicable class of shares of the Fund that you hold. The net asset value (or NAV) of each class of shares of each Fund is determined as of the scheduled close of regular trading on the NYSE, normally 4 p.m., Eastern Time, on each day the Exchange is open for trading. If the NYSE closes at another time, each Fund will determine the NAV of each class of shares of the Fund as of the scheduled closing time.

This calculation is made by deducting the amount of the liabilities (debts) of the applicable class of shares of the applicable Fund, from the value of its assets, and dividing the difference by the number of outstanding shares of the applicable class of the Fund.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Net Asset Value (NAV) = | Total Assets – Total Liabilities |
| &nbsp;&nbsp;&nbsp;Net Asset Value (NAV) = | Number of Shares Outstanding |

---

To calculate the value of your investment, multiply the NAV by the number of shares of the Fund you own.

#### How can I find out the NAV of my shares?
You may obtain the NAV for your shares 24 hours a day online by visiting *domini.com/performance* and choosing your Fund and share class, or by telephoning 1-800-582-6757. You will also receive this information on your periodic account statements.

#### How do you determine what price I will get when I buy shares?
Investments will be processed at the next share price calculated after an order is received in good order by a Fund or its designated agent. Please note that purchase requests received after the share price has been calculated for any Fund (normally 4 p.m. Eastern Time on each day that the NYSE is open for trading) will be processed at the next share price that is calculated by the Fund after the order is received in good order by the Fund or its designated agent. The designated agent is responsible for transmitting your order to the Fund in a timely manner.

After establishing electronic transfer via Automated Clearing House ("ACH transfer") privileges, shareholders may place ACH transfer transaction orders by telephone or online. All electronic deposits are subject to review. ACH transfer purchase orders received in good order by the Fund before the close of regular trading (normally 4 p.m. Eastern Time on a day that the NYSE is open for trading) are priced at that day's net asset value. Each Fund may stop offering its shares for sale at any time and may reject any order for the purchase of its shares.

------

#### How do you determine what price I will get when I sell shares?
Sales will be processed at the next share price that is calculated after your sale request is received by the Funds or its designated agent in good order. See "What Is 'Good Order'?" above for more information. Please note that redemption requests received after the share price has been calculated for any Fund (normally 4 p.m. Eastern Time on each day that the NYSE is open for trading) will be processed at the next share price that is calculated by the Fund after the order is received in good order by the Fund or its designated agent. The designated agent is responsible for transmitting your order to the Fund in a timely manner.

Each Fund may pay redemption proceeds by check or, if your account is eligible and you have completed and/or verified the appropriate information on the Account Application or submitted other written instructions by bank wire, or electronic funds transfer via Automated Clearing House ("ACH transfer"). The appropriate Fund will normally pay redemption proceeds from the sale of shares on the next day the NYSE is open for trading, but in any event within 7 days, regardless of the method the Fund uses to make such payment. If you purchased the shares you are selling by check, a Fund may delay the payment of the redemption proceeds until the check has cleared, which may take up to 10 calendar days from the purchase date. Please note that shares purchased via ACH transfer are not immediately available for redemption pending confirmation of receipt of payment and the delivery of redemption proceeds associated with such purchases may be limited to the bank account associated with the ACH transfer funding the purchase.

Your redemption proceeds may be delayed, or your right to receive redemption proceeds suspended, if the NYSE is closed (other than on weekends or holidays) or trading is restricted, if the Securities and Exchange Commission determines that an emergency or other circumstances exist that make it impracticable for a Fund to sell or value its portfolio securities, or otherwise as permitted by the rules of or by the order of the Securities and Exchange Commission.

Under normal circumstances, each Fund expects to meet redemption requests by using cash or cash equivalents in its portfolio and/or selling portfolio assets to generate cash. Under stressed or abnormal market conditions or circumstances, including circumstances adversely affecting the liquidity of a Fund's investments, a Fund may be more likely to be forced to sell portfolio assets to meet redemptions than under normal market circumstances. Under such circumstances, a Fund could be forced to liquidate assets at inopportune times or at a loss or depressed value. Each Fund also may pay redemption proceeds using cash obtained through borrowing arrangements that may be available from time to time. Each Fund reserves the right to pay part, or all of the redemption proceeds in kind, i.e., in securities, rather than cash. If a Fund redeems in kind, it generally will deliver to you a proportionate share of the portfolio securities owned by the Fund. Securities you receive this way may increase or decrease in value while you hold them, and you may incur brokerage and transaction charges and tax liability when you convert the

------

securities to cash. A Fund may redeem in kind at a shareholder's request or if, for example, the Fund reasonably believes that a cash redemption may have a substantial impact on the Fund and its remaining shareholders.

During periods of deteriorating or stressed market conditions, when an increased portion of a Fund's portfolio may be comprised of less-liquid investments, or during extraordinary or emergency circumstances, a Fund may be more likely to pay redemption proceeds with cash obtained through short-term borrowing arrangements (if available) or by giving you securities.

Access to the automated telephone system and online processing may be limited during periods of peak demand, market volatility, system upgrades or maintenance, or other reasons.

#### How is the value of securities held by the Funds determined?
Equity securities and other instruments held by a Fund that are listed or traded on national securities exchanges are generally valued at the last sale price on the exchange or market on which the security or instrument is primarily traded at the time of valuation. Securities listed on the NASDAQ National Market System are generally valued using the NASDAQ Official Closing Price. Bonds and other fixed income securities held by a Fund generally are valued on the basis of valuations furnished by independent pricing services. When a market price is not available, or when the Adviser has reason to believe that the price does not represent market realities, the securities will be valued using fair value methods. When a Fund uses fair value pricing, a Fund's value for a security may be different from quoted market values or what a Fund would receive upon the sale of such security. The Adviser has been designated as the Funds' valuation designee, with responsibility for fair valuation subject to oversight by the Funds' Board of Trustees.

Because the Domini Impact Equity Fund invests primarily in the stocks of large-capitalization U.S. companies that are traded on U.S. exchanges, it is expected that there would be limited circumstances in which the Fund would use fair value pricing — for example, if the exchange on which a portfolio security is principally traded closed early or if trading in a particular security was halted during the day and did not resume prior to the time the Fund calculated its NAV. In addition, the Domini Impact Bond Fund may invest, for example, in certain community development investments for which a market price might not readily be available, provided that the Fund may not invest more than 15% of its net assets in illiquid securities. In those circumstances, the fair value of the community development investment is determined by the Adviser using fair value methods.

The Domini Sustainable Solutions Fund and Domini Impact International Equity Fund may invest primarily in the stocks of non-U.S. companies. Non-U.S. equity securities are valued on the basis of their most recent closing market prices at 4 p.m. Eastern Time on each day that the NYSE is open for trading except under the circumstances described herein. Most non-U.S. markets close before 4 p.m. Eastern Time. If the Adviser determines that developments between the close of the non-U.S. market and 4 p.m. Eastern

------

Time will, in its judgment, materially affect the value of some or all of the Fund's securities, it will adjust the previous closing prices to reflect what it believes to be the fair value of the securities as of 4 p.m. Eastern Time. In deciding whether to make these adjustments, the Adviser reviews a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. The Fund may also fair value securities in other situations, for example, when a particular foreign market is closed but the Fund is open. Outside pricing services may be used to provide closing market prices and information used for adjusting those prices. The fair value for a foreign security reported on by such service with a confidence level approved by the Funds' valuation designee, generally shall be the value provided by such service. However, the Fund cannot predict how often it will use closing prices and how often it will adjust those prices. As a means of evaluating its fair value process, the Funds routinely compare closing market prices, the next day's opening prices in the same markets, and adjusted prices.

Please note that each Fund may hold securities that are primarily listed on foreign exchanges that may trade during hours, on weekends, or on other days when the Fund does not price its shares. Therefore, the value of the securities held by the Fund may change on days when shareholders will not be able to purchase or sell the Fund's shares.

FUND STATEMENTS AND REPORTS

#### E-Delivery
To keep the Funds' costs as low as possible, and to conserve paper, paperless e-delivery of statements, trade confirmations, prospectuses, shareholder reports, and other materials for each of your Fund accounts is available. To sign up for e-delivery, you must first establish online account access. Visit *domini.com/manage-account* to register for online account access and select e-delivery for each document that you would like to receive e-delivery notifications. You will receive a notice by email when each new document is available. Then you may log on at your convenience to view, print, or save your document. There is no charge to establish e-delivery, and you may view, cancel, or change your e-delivery profile at any time.

By electing e-delivery of Fund documents, you are authorizing Domini to discontinue hard copy mailings of that type of document.

An annual paper document delivery fee of $15 is deducted from each direct Domini Fund account that has a balance below $10,000. See "Paper Document Delivery Fee" for more information. This Paper Document Delivery Fee will not be charged so long as your electronic delivery election remains in effect. At its discretion, Domini reserves the right to waive or modify such fee at any time.

------

#### Delivery of Shareholder Documents
The Funds may mail one copy of shareholder documents, including prospectuses, shareholder reports, proxy statements and other regulatory documents, when we find that two or more Fund shareholders have the same last name and address. This practice is known as "householding" and is intended to eliminate duplicate mailings, save paper and reduce expenses. Call our Shareholder Services department at 1-800-582-6757 if you need additional copies of shareholder documents or if you do not want the mailing of your shareholder documents to be combined with those for other accounts at the same address. The Funds will begin sending you individual copies of shareholder documents thirty days after receiving such a request. Mailings of your shareholder documents may be householded indefinitely unless you instruct us otherwise.

#### Trade Confirmations
Confirmation statements setting forth the trade date and the amount of your transaction are sent each time you buy, sell, or exchange shares (except for Automatic Investment Plan purchases, dividend reinvestments, and Systematic Withdrawal Plan redemptions). Always verify your transactions by reviewing your confirmation statement carefully for accuracy. Please report any discrepancies promptly to our Shareholder Services department at 1-800-582-6757. You may choose to view trade confirmations online rather than receiving a hard copy by signing up for e-delivery. Visit *domini.com/manage-account* to register for online account access and select e-delivery for each document that you would like to receive e-delivery notifications.

#### Account Statements
Account statements set forth all account activity, including the trade date and the amount of each account transaction during the covered period. Account statements are mailed quarterly or monthly (Institutional shares only). Always verify your transactions by reviewing your account statement carefully for accuracy. Please report any discrepancies promptly to our Shareholder Services department at 1-800-582-6757. You may choose to view account statements online rather than receiving a hard copy by signing up for e-delivery. Visit *domini.com/manage-account* to register for online account access and select e-delivery for each document that you would like to receive e-delivery notifications.

#### Fund Financial Reports
The Funds' Annual Report is mailed in September, and the Funds' Semi-Annual Report is mailed in March. These reports include information about a Fund's performance. You may choose to view these reports online rather than receiving a hard copy by signing up for e-delivery. Visit *domini.com/manage-account* to register for online account access and select e-delivery for each document that you would like to receive e-delivery notifications.

------

#### Tax Statements
Each year we will provide you a statement for the previous year that reflects all dividend and capital gains distributions, proceeds from the sale of shares in nonretirement accounts, and distributions from IRAs or other retirement accounts as required by the IRS. Tax statements are generally mailed in January or February as required by law. Statements regarding annual IRA contributions are generally provided in May.

DIVIDENDS AND CAPITAL GAINS

Each Fund pays to its shareholders substantially all of its net income in the form of dividends. Dividends from net income (excluding capital gains), if any, are typically paid by the Domini Impact Equity Fund, Domini Sustainable Solutions Fund, and Domini Impact International Equity Fund semi-annually (usually in June and December), and by the Domini Impact Bond Fund monthly. Any capital gain dividends are distributed annually in December.

You may elect to receive dividends either by check or reinvested in additional shares of a Domini Fund. Unless you choose to receive your dividends by check, all dividends will be reinvested in additional shares of the designated Domini Fund. In either case, dividends are normally taxable to you in the manner described below.

Any check for payment of dividends or other distributions that cannot be delivered by the post office or that remains uncashed for a period of more than one year may be reinvested in your account.

TAXES

This discussion of taxes is for general information only. You should consult your own tax adviser about your particular situation and the status of your account under federal, state, and local laws.

#### Taxability of Dividends
Each year the Funds will mail you a report of your distributions, if required, for the prior year and how they are treated for federal tax purposes. If you are otherwise subject to federal income taxes, you will normally have to pay federal income taxes on the dividends you receive from the Funds, whether you take the dividends in cash or reinvest them in additional shares. Noncorporate shareholders will be taxed at reduced rates on distributions reported by a Fund as "qualified dividend income," provided the recipient shareholder satisfies certain holding period requirements and refrains from making certain elections. Dividends reported by a Fund as capital gain dividends are taxable as long-term capital gains, which for noncorporate shareholders are also subject to tax at reduced rates. Other dividends are generally taxable as ordinary income. Some dividends paid in January may be taxable to you as if they had been paid the previous December.

------

#### Buying a Dividend
Dividends paid by a Fund will reduce that Fund's net asset value per share. If, at the time you purchase shares of a Fund, the Fund has recognized net capital gains and has not yet distributed those capital gains or has unrealized capital gains, you may, in effect, receive a portion of the purchase price back as a taxable dividend.

#### Taxability of Transactions
Any time you sell or exchange shares held in a taxable account, it is generally considered a taxable event for you. Depending on the purchase price and the sale price of the shares you sell or exchange, you may have a gain or a loss on the transaction. An exchange between classes of shares of the same Fund is normally not taxable. Distributions out of a retirement account may have tax consequences. You are responsible for any tax liabilities generated by your transactions.

#### Cost Basis
The Funds must report to the IRS and furnish to shareholders the cost basis information for shares purchased and sold as legally required. The Funds have chosen the "average cost basis" method as their standing (default) tax lot identification method for all shareholders, which means this is the method each Fund will use to determine which specific shares are deemed to be sold when there are multiple purchases on different dates at differing NAVs, and the entire position is not sold at one time. Shareholders may, however, choose a method other than the Fund's standing method at the time of their purchase or upon sale of covered shares. Shareholders should consult their tax advisors to determine the best IRS-accepted cost basis method for their tax situation and to obtain more information about how cost basis reporting applies to them. Shareholders also should carefully review the cost basis information provided to them by the Funds and make any additional basis, holding period or other adjustments that are required when reporting these amounts on their tax returns.

&nbsp;&nbsp;&nbsp;IMPORTANT: By law, you must certify that the Social Security or taxpayer identification number you provide to a Fund is correct and that you are not otherwise subject to backup withholding for failing to report income to the IRS. The Funds may be required to apply backup withholding to certain distributions and proceeds payable to you if you fail to provide this information or otherwise violate IRS requirements. The backup withholding rate is currently 24%.

------

RIGHTS RESERVED BY THE FUNDS

Each Fund and its agents reserve the following rights:

• To waive or change investment minimums

• To waive or change the Paper Document Delivery Fee

• To refuse any purchase or exchange order

• To stop selling shares at any time

• To change, revoke, or suspend the exchange privilege

• To suspend telephone or online transactions

• To reject any purchase or exchange order (including, but not limited to, orders that involve, in the Adviser's opinion, excessive trading, market timing, fraud, or 5% ownership) upon notice to the shareholder

• To change or implement additional policies designed to prevent excessive trading

• To adopt policies requiring redemption of shares in certain circumstances

• To freeze any account and suspend account services when notice has been received of a dispute between the registered or beneficial account owners or there is a reason to believe a fraudulent transaction may occur

• To otherwise modify the conditions of purchase and any services at any time

• To act on instructions believed to be genuine and waive submission of a medallion signature guarantee in certain circumstances.

• To redeem shareholder accounts: with incomplete account qualifications, documentation, or payment; with a small account balance; or transfer your shares or proceeds to the appropriate state after a period of inactivity, as determined by state law, or upon notice of undeliverable address. For additional information and conditions please see the Statement of Additional Information under "Account Closings".

These actions will be taken when, in the sole discretion of management, they are deemed to be in the best interest of a Fund.

#### Responsibility for Fraud
Domini and the Funds will not be responsible for any account losses because of fraud if we reasonably believe that the person transacting business on an account is authorized to do so. Please take precautions to protect yourself from fraud. Keep your account information private, and immediately review any account statements or other information that we provide to you. It is important that you contact the Domini Funds immediately about any transactions or changes to your account that you believe to be unauthorized.

------

---

| | |
|:---|:---|
| ![LOGO](g806602g01k01.jpg) | , Domini Impact Investments<sup>®</sup>, Domini<sup>®</sup>, Investing for Good<sup>®</sup>, and |
| The Way You Invest Matters<sup>®</sup> are registered service marks of Domini. Domini Sustainable Solutions Fund<sup>SM</sup>, Domini Impact Equity Fund<sup>SM</sup>, Domini Impact International Equity Fund<sup>SM</sup>, and Domini Impact Bond Fund<sup>SM</sup> are service marks of Domini Impact Investments LLC ("Domini"). The Domini Impact Investment Standards is copyright<sup>©</sup> 2006-2025 by Domini Impact Investments LLC. All rights reserved. | The Way You Invest Matters<sup>®</sup> are registered service marks of Domini. Domini Sustainable Solutions Fund<sup>SM</sup>, Domini Impact Equity Fund<sup>SM</sup>, Domini Impact International Equity Fund<sup>SM</sup>, and Domini Impact Bond Fund<sup>SM</sup> are service marks of Domini Impact Investments LLC ("Domini"). The Domini Impact Investment Standards is copyright<sup>©</sup> 2006-2025 by Domini Impact Investments LLC. All rights reserved. |

---

------

FINANCIAL HIGHLIGHTS

The financial highlights tables are intended to help you understand a Fund's financial performance for the past five years. Certain information reflects financial results for a single Fund share. The total returns in the tables represent the rate that an investor would have earned (or lost) on an investment in the applicable Fund (assuming reinvestment of all dividends and distributions). This information has been derived from the applicable Fund's financial statements which have been audited by KPMG LLP. To obtain copies of the Funds' most recent annual and semi-annual financial statements free of charge, call 1-800-582-6757. Each Fund's annual and semi-annual financial statement and other information is also available online at *domini.com/funddocuments.*

------

DOMINI IMPACT EQUITY FUND — INVESTOR SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net asset value, beginning of period | $37.08 | $31.12 | $28.71 | $34.82 | $26.72 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.14 | 0.17 | 0.16 | 0.03 | 0.08 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 3.82 | 6.11 | 2.80 | (4.08) | 8.74 |
|  Total Income (loss) From Investment Operations | 3.96 | 6.28 | 2.96 | (4.05) | 8.82 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.10) | (0.12) | (0.11) | (0.01) | (0.09) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain | (1.85) | (0.20) | (0.44) | (2.05) | (0.63) |
|  Total Distributions | (1.95) | (0.32) | (0.55) | (2.06) | (0.72) |
|  Redemption fee proceeds<sup>1</sup>  |  |  |  | 0.00<sup>2</sup> | 0.00<sup>2</sup> |
|  Net asset value, end of period | $39.09 | $37.08 | $31.12 | $28.71 | $34.82 |
|  Total return | 10.88% | 20.30% | 10.60% | (12.65)% | 33.43% |
|  Portfolio turnover | 21% | 9% | 9% | 6% | 23% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $948 | $931 | $810 | $776 | $927 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 1.04% | 0.98% | 1.00% | 1.05% | 1.09% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 1.04% | 0.98% | 1.00% | 1.05% | 1.09% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 0.27% | 0.39% | 0.45% | 0.14% | 0.24% |

---

1 Based on average shares outstanding.

---

| | |
|:---|:---|
| 2 | Amount represents less than $0.005 per share.  |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT EQUITY FUND — INSTITUTIONAL SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net asset value, beginning of period | $36.72 | $30.88 | $28.56 | $34.60 | $26.59 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.10 | 0.12 | 0.18 | 0.12 | 0.28 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 3.94 | 6.18 | 2.83 | (4.05) | 8.60 |
|  Total Income (loss) From Investment Operations | 4.04 | 6.30 | 3.01 | (3.93) | 8.88 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.26) | (0.26) | (0.25) | (0.06) | (0.24) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain | (1.85) | (0.20) | (0.44) | (2.05) | (0.63) |
|  Total Distributions | (2.11) | (0.46) | (0.69) | (2.11) | (0.87) |
|  Redemption fee proceeds<sup>1</sup>  |  |  |  |  | 0.00<sup>2</sup> |
|  Net asset value, end of period | $38.65 | $36.72 | $30.88 | $28.56 | $34.60 |
|  Total return | 11.24% | 20.62% | 10.91% | (12.36)% | 33.89% |
|  Portfolio turnover | 21% | 9% | 9% | 6% | 23% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $151 | $151 | $134 | $125 | $154 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 0.74% | 0.70% | 0.71% | 0.73% | 0.74% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 0.74% | 0.70% | 0.71% | 0.73% | 0.74% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 0.57% | 0.69% | 0.73% | 0.46% | 0.59% |

---

1 Based on average shares outstanding.

---

| | |
|:---|:---|
| 2 | Amount represents less than $0.005 per share.  |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT EQUITY FUND — CLASS Y SHARES (FORMERLY CLASS R SHARES)

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net Asset Value, beginning of period | $36.77 | $30.92 | $28.60 | $34.66 | $26.62 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 1.24 | 11.59 | 5.43 | 7.56 | 7.50 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 2.78 | (5.31) | (2.44) | (11.52) | 1.37 |
|  Total Income (loss) From Investment Operations | 4.02 | 6.28 | 2.99 | (3.96) | 8.87 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.22) | (0.23) | (0.23) | (0.05) | (0.20) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain | (1.85) | (0.20) | (0.44) | (2.05) | (0.63) |
|  Total Distributions | (2.07) | (0.43) | (0.67) | (2.10) | (0.83) |
|  Redemption fee proceeds<sup>1</sup>  |  |  |  |  | 0.00<sup>2</sup> |
|  Net asset value, end of period | $38.72 | $36.77 | $30.92 | $28.60 | $34.66 |
|  Total return | 11.17% | 20.51% | 10.78% | (12.42)% | 33.81% |
|  Portfolio turnover | 21% | 9% | 9% | 6% | 23% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $21 | $19 | $11 | $9 | $10 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 0.80%<sup>3</sup> | 0.80%<sup>3</sup> | 0.80%<sup>3</sup> | 0.80%<sup>3</sup> | 0.80%<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 0.94% | 0.97% | 0.95% | 1.02% | 1.05% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 0.51% | 0.56% | 0.64% | 0.40% | 0.51% |

---

1 Based on average shares outstanding.

---

| | |
|:---|:---|
| 2 | Amount represents less than $0.005 per share.  |

---

3 Reflects a waiver of fees by the Manager and the Sponsor of the Fund.

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI SUSTAINABLE SOLUTIONS FUND —

INVESTOR SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the<br>period: |  |  |  |  |  |
|  Net asset value, beginning of<br>period | $15.98 | $13.89 | $13.79 | $19.06 | $15.28 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.00<sup>1</sup> | (0.02) | (0.03) | (0.10) | (0.12) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 0.25 | 2.11 | 0.13 | (4.45) | 4.54 |
|  Total Income (loss) From Investment Operations | 0.25 | 2.09 | 0.10 | (4.55) | 4.42 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income |  | (0.00)<sup>1</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  |  | (0.72) | (0.64) |
|  Total Distributions |  |  |  | (0.72) | (0.64) |
|  Redemption fee proceeds<sup>2</sup>  |  |  |  |  | 0.00<sup>1</sup> |
|  Net asset value, end of period | $16.23 | $15.98 | $13.89 | $13.79 | $19.06 |
|  Total return | 1.50% | 15.06% | 0.73% | (24.60)% | 28.94% |
|  Portfolio turnover | 64% | 45% | 39% | 51% | 65% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $25 | $21 | $18 | $16 | $19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 1.40%<sup>3</sup> | 1.40%<sup>3</sup> | 1.40%<sup>3</sup> | 1.40%<sup>3</sup> | 1.40%<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 2.05% | 2.13% | 2.05% | 1.99% | 2.12% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | (0.04)% | (0.19)% | (0.25)% | (0.59)% | (0.87)% |

---

---

| | |
|:---|:---|
| 1 | Amount represents less than $0.005 per share.  |

---

2 Based on average shares outstanding.

3 Reflects a waiver of fees by the Manager and the Distributor of the Fund.

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI SUSTAINABLE SOLUTIONS FUND —

INSTITUTIONAL SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the<br>period: |  |  |  |  |  |
|  Net asset value, beginning of<br>period | $16.11 | $13.98 | $13.85 | $19.12 | $15.29 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.04 | 0.02 | (0.00)<sup>1</sup> | (0.06) | (0.10) |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 0.25 | 2.13 | 0.13 | (4.46) | 4.57 |
|  Total Income (loss) From Investment Operations | 0.29 | 2.15 | 0.13 | (4.52) | 4.47 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.03) | (0.02) |  | (0.03) |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  |  | (0.72) | (0.64) |
|  Total Distributions | (0.03) | (0.02) |  | (0.75) | (0.64) |
|  Redemption fee proceeds<sup>2</sup>  |  |  |  |  |  |
|  Net asset value, end of period | $16.37 | $16.11 | $13.98 | $13.85 | $19.12 |
|  Total return | 1.79% | 15.37% | 0.94% | (24.39)% | 29.25% |
|  Portfolio turnover | 64% | 45% | 39% | 51% | 65% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $14 | $15 | $16 | $13 | $19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 1.15%<sup>3</sup> | 1.15%<sup>3</sup> | 1.15%<sup>3</sup> | 1.15%<sup>3</sup> | 1.15%<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 1.51% | 1.56% | 1.53% | 1.40% | 1.43% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 0.20% | 0.06% | 0.02% | (0.37)% | (0.62)% |

---

---

| | |
|:---|:---|
| 1 | Amount represents less than $0.005 per share.  |

---

2 Based on average shares outstanding.

3 Reflects a waiver of fees by the Manager of the Fund.

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT INTERNATIONAL EQUITY FUND — INVESTOR SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net asset value, beginning of period | $9.25 | $8.16 | $7.39 | $9.29 | $7.28 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.16 | 0.19 | 0.21 | 0.16 | 0.19 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 1.31 | 1.08 | 0.76 | (1.95) | 1.94 |
|  Total Income (loss) From Investment Operations | 1.47 | 1.27 | 0.97 | (1.79) | 2.13 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.17) | (0.18) | (0.20) | (0.11) | (0.12) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  |  |  |  |
|  Total Distributions | (0.17) | (0.18) | (0.20) | (0.11) | (0.12) |
|  Redemption fee proceeds<sup>1</sup>  |  |  |  | 0.00<sup>2</sup> | 0.00<sup>2</sup> |
|  Net asset value, end of period | $10.55 | $9.25 | $8.16 | $7.39 | $9.29 |
|  Total return | 16.14% | 15.59% | 13.17% | (19.23)% | 29.34% |
|  Portfolio turnover | 80% | 89% | 90% | 88% | 88% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $205 | $187 | $171 | $201 | $292 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 1.28% | 1.31% | 1.33% | 1.34% | 1.37% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 1.28% | 1.31% | 1.33% | 1.34% | 1.37% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 1.49% | 1.93% | 1.75% | 1.40% | 1.32% |

---

1 Based on average shares outstanding.

---

| | |
|:---|:---|
| 2 | Amount represents less than $0.005 per share.  |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT INTERNATIONAL EQUITY FUND — INSTITUTIONAL SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net asset value, beginning of period | $9.07 | $8.02 | $7.30 | $9.19 | $7.23 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.17 | 0.18 | 0.16 | 0.16 | 0.16 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 1.30 | 1.10 | 0.82 | (1.89) | 1.99 |
|  Total Income (loss) From Investment Operations | 1.47 | 1.28 | 0.98 | (1.73) | 2.15 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.22) | (0.23) | (0.26) | (0.16) | (0.19) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  |  |  |  |
|  Total Distributions | (0.22) | (0.23) | (0.26) | (0.16) | (0.19) |
|  Redemption fee proceeds<sup>1</sup>  |  |  |  | 0.00<sup>2</sup> | 0.00<sup>2</sup> |
|  Net asset value, end of period | $10.32 | $9.07 | $8.02 | $7.30 | $9.19 |
|  Total return | 16.50% | 16.06% | 13.66% | (18.88)% | 29.80% |
|  Portfolio turnover | 80% | 89% | 90% | 88% | 88% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $435 | $411 | $407 | $525 | $636 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 0.97% | 0.96% | 0.92% | 0.89% | 0.91% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 0.97% | 0.96% | 0.92% | 0.89% | 0.91% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 1.81% | 2.29% | 2.11% | 1.91% | 1.79% |

---

1 Based on average shares outstanding.

---

| | |
|:---|:---|
| 2 | Amount represents less than $0.005 per share.  |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT INTERNATIONAL EQUITY FUND — CLASS Y SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net asset value, beginning of period | $9.09 | $8.03 | $7.30 | $9.20 | $7.23 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.16 | 0.19 | 0.19 | 0.16 | 0.11 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | 1.31 | 1.09 | 0.79 | (1.90) | 2.04 |
|  Total Income (loss) From Investment Operations | 1.47 | 1.28 | 0.98 | (1.74) | 2.15 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.21) | (0.22) | (0.25) | (0.16) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  |  |  |  |
|  Total Distributions | (0.21) | (0.22) | (0.25) | (0.16) | (0.18) |
|  Redemption fee proceeds<sup>1</sup>  |  |  |  |  | 0.00<sup>2</sup> |
|  Net asset value, end of period | $10.35 | $9.09 | $8.03 | $7.30 | $9.20 |
|  Total return | 16.47% | 16.02% | 13.67% | (19.01)% | 29.88% |
|  Portfolio turnover | 80% | 89% | 90% | 88% | 88% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $246 | $219 | $256 | $528 | $627 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 1.05% | 0.97% | 0.96% | 0.95% | 0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 1.05% | 0.97% | 0.96% | 0.95% | 0.98% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 1.71% | 2.26% | 2.09% | 1.87% | 1.82% |

---

1 Based on average shares outstanding.

---

| | |
|:---|:---|
| 2 | Amount represents less than $0.005 per share.  |

---

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT BOND FUND — INVESTOR SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the<br>period: |  |  |  |  |  |
|  Net asset value, beginning of<br>period | $10.19 | $9.87 | $10.51 | $12.04 | $12.49 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.32 | 0.29 | 0.24 | 0.16 | 0.18 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | (0.08) | 0.32 | (0.62) | (1.41) | (0.05) |
|  Total Income (loss) From Investment Operations | 0.24 | 0.61 | (0.38) | (1.25) | 0.13 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.33) | (0.29) | (0.26) | (0.17) | (0.18) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  | (0.00)<sup>1</sup> | (0.11) | (0.40) |
|  Total Distributions | (0.33) | (0.29) | (0.26) | (0.28) | (0.58) |
|  Redemption fee proceeds<sup>2</sup>  |  |  |  | 0.00<sup>1</sup> | 0.00<sup>1</sup> |
|  Net asset value, end of period | $10.10 | $10.19 | $9.87 | $10.51 | $12.04 |
|  Total return | 2.39% | 6.29% | (3.56)% | (10.53)% | 1.06% |
|  Portfolio turnover | 194% | 258% | 278% | 383% | 378% |
|  Ratios/supplemental data<br>(annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period<br>(in millions) | $112 | $115 | $116 | $133 | $151 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 0.87%<sup>3</sup> | 0.87%<sup>3</sup> | 0.87%<sup>3</sup> | 0.87%<sup>3</sup> | 0.87%<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 1.14% | 1.15% | 1.13% | 1.08% | 1.10% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 3.19% | 2.94% | 2.41% | 1.47% | 1.47% |

---

---

| | |
|:---|:---|
| 1 | Amount represents less than $0.005 per share.  |

---

2 Based on average shares outstanding.

3 Reflects a waiver of fees by the Manager and the Distributor of the Fund.

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT BOND FUND — INSTITUTIONAL SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, | YEAR ENDED JULY 31, |
|  | 2025 | 2024 | 2023 | 2022 | 2021 |
|  For a share outstanding for the<br>period: |  |  |  |  |  |
|  Net asset value, beginning of<br>period | $10.11 | $9.80 | $10.43 | $11.96 | $12.41 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.35 | 0.32 | 0.27 | 0.20 | 0.23 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | (0.07) | 0.30 | (0.61) | (1.42) | (0.07) |
|  Total Income (loss) From Investment Operations | 0.28 | 0.62 | (0.34) | (1.22) | 0.16 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.36) | (0.31) | (0.29) | (0.20) | (0.21) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  | (0.00)<sup>1</sup> | (0.11) | (0.40) |
|  Total Distributions | (0.36) | (0.31) | (0.29) | (0.31) | (0.61) |
|  Redemption fee proceeds<sup>2</sup>  |  |  |  |  | 0.00<sup>1</sup> |
|  Net asset value, end of period | $10.03 | $10.11 | $9.80 | $10.43 | $11.96 |
|  Total return | 2.79% | 6.53% | (3.22)% | (10.34)% | 1.35% |
|  Portfolio turnover | 194% | 258% | 278% | 383% | 378% |
|  Ratios/supplemental data<br>(annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period<br>(in millions) | $101 | $100 | $84 | $93 | $91 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 0.57%<sup>3</sup> | 0.57%<sup>3</sup> | 0.57%<sup>3</sup> | 0.57%<sup>3</sup> | 0.57%<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 0.72% | 0.75% | 0.74% | 0.72% | 0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 3.49% | 3.25% | 2.71% | 1.74% | 1.72% |

---

---

| | |
|:---|:---|
| 1 | Amount represents less than $0.005 per share.  |

---

2 Based on average shares outstanding.

3 Reflects a waiver of fees by the Manager of the Fund.

SEE NOTES TO FINANCIAL STATEMENTS

------

DOMINI IMPACT BOND FUND — CLASS Y SHARES

FINANCIAL HIGHLIGHTS

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | YEAR ENDED<br> JULY 31, | YEAR ENDED<br> JULY 31, | YEAR ENDED<br> JULY 31, | YEAR ENDED<br> JULY 31, | |
|  | 2025 | 2024 | 2023 | 2022 | FOR THE PERIOD<br>JUNE 1, 2021<br>(COMMENCEMENT<br>OF OPERATIONS)<br>THROUGH<br>JULY 31, 2021 |
|  For a share outstanding for the period: |  |  |  |  |  |
|  Net asset value, beginning of period | $10.19 | $9.88 | $10.52 | $12.05 | $11.85 |
|  Income from investment operations: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net investment income (loss) | 0.35 | 0.32 | 0.27 | 0.19 | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp; Net realized and unrealized gain (loss) on investments | (0.08) | 0.30 | (0.63) | (1.41) | 0.20 |
|  Total Income (loss) From Investment Operations | 0.27 | 0.62 | (0.36) | (1.22) | 0.23 |
|  Less dividends and/or distributions: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Dividends to shareholders from net investment income | (0.35) | (0.31) | (0.28) | (0.20) | (0.03) |
| &nbsp;&nbsp;&nbsp;&nbsp; Distributions to shareholders from net realized gain |  |  | (0.00)<sup>1</sup> | (0.11) |  |
|  Total Distributions | (0.35) | (0.31) | (0.28) | (0.31) | (0.03) |
|  Redemption fee proceeds |  |  |  |  |  |
|  Net asset value, end of period | $10.11 | $10.19 | $9.88 | $10.52 | $12.05 |
|  Total return<sup>2</sup>  | 2.71% | 6.41% | (3.35)% | (10.32)% | 1.93% |
|  Portfolio turnover | 194% | 258% | 278% | 383% | 378% |
|  Ratios/supplemental data (annualized): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Net assets, end of period (in millions) | $36 | $28 | $23 | $18 | $11 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of expenses to average net assets | 0.65%<sup>3</sup> | 0.65%<sup>3</sup> | 0.65%<sup>3</sup> | 0.65%<sup>3</sup> | 0.65%<sup>3</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of gross expenses to average net assets | 0.88% | 0.90% | 0.91% | 0.96% | 1.03% |
| &nbsp;&nbsp;&nbsp;&nbsp; Ratio of net investment income (loss) to average net assets | 3.41% | 3.17% | 2.65% | 1.74% | 1.36% |

---

---

| | |
|:---|:---|
| 1 | Amount represents less than $0.005 per share.  |

---

2 Not annualized for periods less than one year.

3 Reflects a waiver of fees by the Manager of the Fund.

SEE NOTES TO FINANCIAL STATEMENTS

------

FOR ADDITIONAL INFORMATION

#### Annual and Semi-Annual Reports
Additional information about a Fund's investments is available in the Fund's Annual and Semi-Annual Reports to shareholders. In the Fund's Annual Report, you will find a discussion of the market conditions and investment strategies that significantly affected the Fund's performance during its last fiscal year. In Form N-CSR, you will find the Fund's Annual and Semi-Annual financial statements. To obtain copies of a Fund's most recent Annual and Semi-Annual Reports and other information about the Fund, such as Fund financial statements free of charge, call 1-800-582-6757. The Funds' most recent Annual and Semi-Annual Reports are also available online at *domini.com/funddocuments* and in publicly available filings of Form N-CSR on the EDGAR database on the SEC's website, *sec.gov*.

#### Statement of Additional Information
The Funds' Statement of Additional Information contains more detailed information about each Fund and its management and operations. The Statement of Additional Information and the independent registered public accounting firm's report and financial statements are incorporated by reference into this prospectus and are legally part of it. They are available free of charge by mail from Domini, or online at *domini.com/funddocuments.* 

#### Proxy Voting and Impact Investment Standards
Visit *domini.com/proxyvoting* for more complete information about Domini's proxy voting policies and procedures and to view the Domini Funds' current proxy voting decisions. Visit *domini.com/shareholderproposals* to learn more about the firm's shareholder activism program, and *domini.com/investmentstandards* for more information about the Impact Investment Standards Domini uses to evaluate Fund holdings.

#### Contact Domini
To make inquiries about the Funds or obtain copies of any of the above free of charge, call **1-800-582-6757** (Investor, Institutional and Class Y shares) or write to this address:

Domini Funds

P.O. Box 46707

Cincinnati, OH 45246-0707

**Website:** To learn more about the Funds or Impact Investing, or to establish online account access, visit us online at *domini.com*. Subscribe for Domini news and impact updates at *domini.com/subscribe*.

#### Securities and Exchange Commission
Information about the Funds (including the Statement of Additional Information) is available on the EDGAR database on the SEC's website, *sec.gov*. Copies may be obtained upon payment of a duplicating fee by electronic request at the following email address: publicinfo@sec.gov, or by writing or visiting the Public Reference Section of the SEC, Washington, D.C. 20549-1520. For more information about the Public Reference Room, you may call the SEC at 1-202-551-8090.

File No. 811-5823.

------

![LOGO](g806602g01n04.jpg)

Domini Funds P.O. Box 46707 \| Cincinnati, OH 45246-0707 1-800-582-6757 \| domini.com \| @DominiFunds Subscribe to Domini news at domini.com/subscribe Domini Impact Equity FundSM Investor Institutional Shares: Shares: CUSIP CUSIP 257132100 257132852 \| DSEFX \| DIEQX Class Y Shares: CUSIP 257132308 \| DSFRX Domini Sustainable Solutions FundSM Investor Institutional Shares: Shares: 257132761 257132779 \| CAREX \| LIFEX Domini Impact International Equity FundSM Investor Institutional Shares: Shares: CUSIP CUSIP 257132704 257132811 \| DOMIX \| DOMOX Class Y Shares: CUSIP 257132787 \| DOMYX Domini Impact Bond FundSM Investor Institutional Shares: Shares: CUSIP CUSIP 257132209 257132829 \| DSBFX \| DSBIX Class Y Shares: CUSIP 257132795 \| DSBYX

------

#### STATEMENT OF ADDITIONAL INFORMATION
NOVEMBER 30, 2025

#### DOMINI IMPACT EQUITY FUND<sup>SM</sup>
INVESTOR SHARES (DSEFX), CLASS Y SHARES (DSFRX) AND INSTITUTIONAL SHARES (DIEQX)

#### DOMINI SUSTAINABLE SOLUTIONS FUND<sup>SM</sup>
INVESTOR SHARES (CAREX) AND INSTITUTIONAL SHARES (LIFEX)

#### DOMINI IMPACT INTERNATIONAL EQUITY FUND<sup>SM</sup>
INVESTOR SHARES (DOMIX), INSTITUTIONAL SHARES (DOMOX) AND CLASS Y SHARES (DOMYX)

#### DOMINI IMPACT BOND FUND<sup>SM</sup>
INVESTOR SHARES (DSBFX), INSTITUTIONAL SHARES (DSBIX) AND CLASS Y SHARES (DSBYX)

(each a "Fund" and collectively the "Funds")

This Statement of Additional Information ("SAI") sets forth information that may be of interest to investors but that is not necessarily included in the Funds' Prospectus dated November 30, 2025, as amended from time to time. This Statement of Additional Information should be read in conjunction with the Prospectus. This SAI incorporates by reference each Fund's financial statements for the fiscal year ended July 31, 2025 relating to the Funds. An investor may obtain copies of the Funds' Prospectus, Annual Report and financial statements without charge from Domini Impact Investments by calling 1-800-582-6757 or online at *www.domini.com/funddocuments*.

This Statement of Additional Information is NOT a prospectus and is authorized for distribution to prospective investors only if preceded or accompanied by an effective prospectus and should be read only in conjunction with such prospectus. References in this Statement of Additional Information to the "Prospectus" are to the current Prospectus of the Funds, as amended or supplemented from time to time.

#### **TABLE OF CONTENTS**

---

| | |
|:---|:---|
|  | **PAGE** |
| [1. The Funds](#sai806602_1) | 1 |
| [2. Investment Information](#sai806602_2) | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp; [3. Determination of Net Asset Value; Valuation of Portfolio Securities;](#sai806602_3)<br> [Additional Purchase, Sale, and Account Closing Information](#sai806602_3) | 33 |
| [4. Management of the Funds](#sai806602_4) | 35 |
| [5. Independent Registered Public Accounting Firm](#sai806602_5) | 56 |
| [6. Taxation](#sai806602_6) | 56 |
| [7. Portfolio Transactions and Brokerage Commissions](#sai806602_7) | 60 |
| [8. Description of Shares, Voting Rights, and Liabilities](#sai806602_8) | 62 |
| [9. Financial Statements](#sai806602_9) | 64 |
| [10. Appendix A — Rating Information](#sai806602_10) | A-1 |
| [11. Appendix B — Proxy Voting Policies and Procedures](#sai806602_11) | B-1 |

---

------

**1.** **THE FUNDS** 

The Domini Impact Equity Fund (formerly the Domini Social Equity Fund) (the "Equity Fund"), the Domini Sustainable Solutions Fund (the "Sustainable Solutions Fund"), the Domini Impact International Equity Fund (formerly the Domini International Social Equity Fund) (the "International Equity Fund"), and the Domini Impact Bond Fund (formerly the Domini Social Bond Fund) (the "Bond Fund," and collectively with the Equity Fund, Sustainable Solutions Fund, and International Equity Fund, the "Funds") are each diversified, open-end management investment companies. Each Fund is a series of shares of beneficial interest of Domini Investment Trust (the "Trust"), which was organized as a business trust under the laws of the Commonwealth of Massachusetts on June 7, 1989, and commenced operations on June 3, 1991. Prior to November 30, 2016, the name of the Trust was the Domini Social Investment Trust. Prior to January 20, 2000, the name of the Trust was "Domini Social Equity Fund." Prior to November 27, 2009, the name of the International Equity Fund was "Domini European PacAsia Social Equity Fund." Each Fund offers to buy back (redeem) its shares from its shareholders at any time at net asset value.

The Equity Fund, Sustainable Solutions Fund, and International Equity Fund are each referred to herein as a "Stock Fund" and, collectively, as the "Stock Funds."

*Information Concerning Reorganizations and Fund Structure* 

Prior to November 28, 2008, the Equity Fund and International Equity Fund each invested all of its respective assets in a corresponding series of the Domini Social Trust (each a "Master Fund") that invested directly in securities. This investment structure is referred to as a "master-feeder" structure. The Board of Trustees of the Trust approved the withdrawal of each Stock Fund's investment from its corresponding Master Fund and the direct investment in securities by each Stock Fund. There was no change to any Stock Fund's portfolio of investments, advisory or portfolio management personnel, or any services provided to a Fund or its shareholders, and there was no change to any Stock Fund's management or submanagement fees as a result of this change to the Stock Funds' investment structure.

*Sponsor, Investment Adviser, and Subadviser* 

Domini Impact Investments LLC (formerly Domini Social Investments LLC) ("Domini" or the "Adviser") is the Funds' sponsor. Domini provides investment advisory and administrative services to the Funds. The Board of Trustees provides broad supervision over the affairs of each Fund. Shares of each Fund are continuously sold by DSIL Investment Services LLC, the Funds' distributor ("DSILD" or the "Distributor"). An investor should obtain from Domini, and should read in conjunction with the Prospectus, the materials describing the procedures under which Fund shares may be purchased and redeemed.

SSGA Funds Management, Inc. ("SSGA FM" or the "Subadviser") is the investment subadviser for the Equity Fund and Sustainable Solutions Fund. Wellington Management served as the Equity Fund's subadviser from November 30, 2006, through November 30, 2018. Prior to November 30, 2006, SSGA FM subadvised the Equity Fund under a passive index strategy.

Wellington Management Company LLP ("Wellington Management") is the investment subadviser for the International Equity Fund and the Bond Fund. Wellington Management has served as the International Equity Fund's subadviser since the Fund's inception.

Seix Investment Advisors LLC (and its predecessors) served as the Bond Fund's subadviser from March 1, 2005, through January 6, 2015.

*Share Classes* 

The Equity Fund offers three classes of shares: Investor shares, Institutional shares, and Class Y shares (prior to November 30, 2020, Class Y shares of the Equity Fund were known as Class R shares). The Sustainable Solutions Fund offers two classes of shares: Investor shares and Institutional shares. The International Equity Fund offers Investor shares, Institutional shares and Class Y shares, and the Bond Fund offers Investor shares, Institutional shares and Class Y shares as of the date of this Statement of Additional Information.

The Investor shares have each adopted a Rule 12b-1 plan that allows the class to pay distribution fees for the sale and distribution of its shares and for providing services to shareholders.

Class Y shares are generally available only to omnibus accounts held on the books of the Fund for financial intermediaries and other entities that have been approved by the distributor. Class Y shares are also available to endowments, foundations, religious organizations, and other tax-exempt entities, as well as, certain eligible retirement plans, including 401(k) plans, 457 plans, profit

sharing and money purchase pension plans, defined benefit plans, and nonqualified deferred compensation plans. The sponsors of these retirement plans provide various shareholder services to the accounts.

------

**2.** **INVESTMENT INFORMATION** 

#### INVESTMENT OBJECTIVES AND PRINCIPAL INVESTMENT STRATEGIES
The **Equity Fund**'s objective is to seek to provide its shareholders with long-term total return. The Fund may invest in equity securities of companies of any market capitalization, but under normal circumstances, the Fund primarily invests in mid- and large-capitalization U.S. companies. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) will be invested in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. The Fund may also invest in companies organized or traded outside the U.S.

The **Sustainable Solutions Fund's** objective is to seek to provide its shareholders with long-term total return. The Fund may invest in equity securities issued by companies of any market capitalization located throughout the world. For purposes of the Fund's investment policies, equity securities include common stocks, depositary receipts, warrants, rights, and preferred shares. The Fund's investments are not constrained by benchmark weightings in regions, countries, or sectors. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in securities of companies that demonstrate a commitment to sustainability solutions. The Fund may have significant exposure to any region, country or sector at any time. The Fund may invest in fewer than 50 securities.

The **International Equity Fund**'s objective is to seek to provide its shareholders with long-term total return. The Fund may invest in equity securities of companies of any market capitalization located in Europe, the Asia-Pacific region, and throughout the rest of the world, but under normal circumstances, the Fund primarily invests in mid- and large-capitalization companies tied economically to developed market countries located in Europe, the Asia-Pacific region, and throughout the rest of the world. The Fund's investments will normally be tied economically to at least 10 different countries other than the U.S. and at least 40% of the Fund's assets will be invested in companies tied economically to countries outside the U.S. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) will be invested in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. The Fund may invest up to 10% of its assets in securities of issuers tied economically to emerging market countries.

The **Bond Fund**'s objective is to seek to provide its shareholders with a high level of current income and total return. Under normal circumstances, the Fund invests at least 80% of its assets in investment-grade securities and maintains an effective duration within two years (plus or minus) of the portfolio duration of the securities comprising the Bloomberg U.S. Aggregate Bond Index as calculated by the Subadviser. Under normal circumstances, at least 80% of the Fund's net assets (plus the amount of borrowings, if any, for investment purposes) will be invested in bonds, including government and corporate bonds, mortgage-backed and asset-backed securities, non-U.S. dollar-denominated bonds, and U.S. dollar-denominated bonds issued by non-U.S. entities. The Fund's investments in bonds also may include floating and variable rate loans and municipal securities. A significant portion of the Fund's assets may be invested in securities issued by government-sponsored entities such as Freddie Mac, Fannie Mae, and the Federal Home Loan Banks. A significant portion of the Fund's assets may also be invested in "to be announced" securities, including mortgage dollar roll, when-issued, delayed delivery and forward commitment securities. A "to be announced" transaction is a method of trading mortgage-backed securities where the buyer and seller agree upon general trade parameters such as agency, settlement date, par amount, and price at the time the contract is entered into but the mortgage-backed securities are delivered in the future, generally 30 days later. The Fund may invest up to 20% of its net assets in below investment grade debt securities (sometimes referred to as "junk bonds") or, if unrated, of equivalent credit quality as determined by the Subadviser. The Fund may invest in privately issued mortgage-backed and asset-backed securities. The Fund may invest in securities that are in default and illiquid securities. The Fund's investments may change significantly from time to time based on current market conditions and investment eligibility determinations.

The investment objective of a Fund may be changed without the approval of that Fund's shareholders, but not without written notice thereof to shareholders 30 days prior to implementing the change. If there is a change in a Fund's investment objective, shareholders of that Fund should consider whether the Fund remains an appropriate investment in light of their financial positions and needs. There can, of course, be no assurance that the investment objective of any Fund will be achieved.

Each Fund's investment strategies and policies may be changed from time to time without shareholder approval, unless specifically stated otherwise in the Prospectus or in this SAI.

------

#### INVESTMENT POLICIES
The following supplements the information concerning the Funds' investment policies contained in the Prospectus and should only be read in conjunction therewith.

#### EQUITY FUND, SUSTAINABLE SOLUTIONS FUND AND INTERNATIONAL EQUITY FUND (EACH A "STOCK FUND" AND COLLECTIVELY THE "STOCK FUNDS")
Common Stock

Each Stock Fund may invest in common stocks. Common stocks are shares of a corporation or other entity that entitle the holder to a pro rata share of the profits of the corporation, if any, without preference over any other shareholder or class of shareholders, including holders of the entity's preferred stock and other senior equity. Common stock usually carries with it the right to vote and frequently an exclusive right to do so. Common stocks do not represent an obligation of the issuer, and do not offer the degree of protection of debt securities. The issuance of debt securities or preferred stock by an issuer will create prior claims that could adversely affect the rights of holders of common stock with respect to the assets of the issuer upon liquidation or bankruptcy.

Preferred Stock

Each Stock Fund may invest in preferred stocks. Preferred stocks, like common stocks, represent an equity ownership in an issuer, but generally have a priority claim over common stocks, but not over debt, with respect to dividend payments and upon the liquidation or bankruptcy of the issuer. Therefore, preferred stock is subject to the credit risk of the issuer, but because of its subordinate position to debt obligations of the issuer, the deterioration of the credit of an issuer is likely to cause greater decreases in the value of preferred stock than in more senior debt obligations. The market value of preferred stocks with no conversion rights and fixed dividend rates, like fixed-income securities, tends to move inversely with interest rates, with the price determined by the dividend rate. However, because most preferred stocks do not have a fixed maturity date (although they may have call features giving the issuer the right to call the securities under certain circumstances or redemption features giving the holder the right to cause the issuer to repurchase the securities under certain circumstances), these securities generally will fluctuate more in value when interest rates change than, for example, debt issued by the same issuer. Some preferred stocks may pay dividends at an adjustable rate, based on an auction, an index, or other formula. In the absence of credit deterioration, adjustable-rate preferred stocks tend to have less price volatility than fixed-rate preferred stocks.

Unlike common stocks, preferred stocks do not typically have voting rights. Some preferred stocks have convertible features.

Warrants

Each Fund may invest in warrants. Warrants are securities that permit, but do not obligate, their holder to subscribe for other securities. Warrants are subject to the same market risks as stocks, but may be more volatile in price. Warrants do not carry the right to dividends or voting rights with respect to their underlying securities, and they do not represent any rights in assets of the issuer. An investment in warrants may be considered speculative. In addition, the value of a warrant does not necessarily change with the value of the underlying securities and a warrant ceases to have value if it is not exercised prior to its expiration date.

Smaller Market Capitalization Companies

Investments in companies with smaller market capitalizations, including companies generally considered to be small-capitalization issuers and medium-sized companies, may involve greater risks and volatility than investments in larger companies. Companies with smaller market capitalizations may be at an earlier stage of development, may be subject to greater business risks, may have limited product lines, limited financial resources, and less depth in management than more established companies. In addition, these companies may have difficulty withstanding competition from larger, more established companies in their industries. The securities of companies with smaller market capitalizations may be thinly traded (and therefore have to be sold at a discount from current market prices or sold in small lots over an extended period of time), may be followed by fewer investment research analysts, and may be subject to wider price swings and thus may create a greater chance of loss than investing in securities of larger-capitalization companies. In addition, transaction costs in smaller-capitalization stocks may be higher than those of larger-capitalization companies.

Exchange-Traded Funds

Each Stock Fund may purchase shares of exchange-traded funds (ETFs). Typically, a Stock Fund would purchase ETF shares for the same reason it would purchase (and as an alternative to purchasing) futures contracts: to obtain exposure to all or a portion of the stock

------

or bond market. ETF shares enjoy several advantages over futures. Depending on the market, the holding period, and other factors, ETF shares can be less costly and more tax-efficient than futures. In addition, ETF shares can be purchased for smaller sums, offer exposure to market sectors and styles for which there is no suitable or liquid futures contract, and do not involve leverage.

Most ETFs are investment companies. Therefore, a Stock Fund's purchases of ETF shares generally are subject to the limitations on, and the risks of, a Fund's investments in other investment companies, which are described below under the heading "Investment Company Securities."

An investment in an ETF generally presents the same primary risks as an investment in a conventional fund (i.e., one that is not exchange-traded) that has the same investment objective, strategies, and policies. The price of an ETF can fluctuate within a wide range, and a Fund could lose money investing in an ETF if the prices of the securities owned by the ETF go down. In addition, ETFs are subject to the following risks that do not apply to conventional funds: (1) the market price of the ETF's shares may trade at a discount to their net asset value; (2) an active trading market for an ETF's shares may not develop or be maintained; or (3) trading of an ETF's shares may be halted if the listing exchange's officials deem such action appropriate, the shares are delisted from the exchange, or the activation of market wide "circuit breakers" (which are tied to large decreases in stock prices) halts stock trading generally.

Domini applies its environmental and social standards to an ETF when determining if the ETF is eligible for investment by a Fund.

Equity Swaps and Related Transactions

Each Stock Fund may enter into equity swaps and may purchase or sell (i.e., write) equity caps, floors, and collars. Each Stock Fund expects to enter into these transactions in order to hedge against either a decline in the value of the securities included in the Stock Fund's portfolio or against an increase in the price of the securities that it plans to purchase, in order to preserve or maintain a return or spread on a particular investment or portion of its portfolio or to achieve a particular return on cash balances, or in order to increase income or gain. Equity swaps involve the exchange by a Stock Fund with another party of their respective commitments to make or receive payments based on a notional principal amount. The purchase of an equity cap entitles the purchaser, to the extent that a specified index exceeds a predetermined level, to receive payments on a contractually based principal amount from the party selling the equity cap. The purchase of an equity floor entitles the purchaser, to the extent that a specified index falls below a predetermined rate, to receive payments on a contractually based principal amount from the party selling the equity floor. A collar is a combination of a cap and a floor, which preserves a certain return within a predetermined range of values.

Each Stock Fund may enter into equity swaps, caps, floors, and collars on either an asset-based or liability-based basis, depending on whether it is hedging its assets or its liabilities, and will usually enter into equity swaps on a net basis (i.e., the two payment streams are netted out), with the Stock Fund receiving or paying, as the case may be, only the net amount of the two payments. A Stock Fund will only enter into equity swap, cap, floor, or collar transactions with counterparties the Subadviser deems to be creditworthy. The Subadviser will monitor the creditworthiness of counterparties to its equity swap, cap, floor, and collar transactions on an ongoing basis. If there is a default by the other party to such a transaction, the Stock Fund will have contractual remedies pursuant to the agreements related to the transaction. The swap market has grown substantially in recent years with a large number of banks and investment banking firms acting both as principals and agents utilizing standardized swap documentation. The Subadviser has determined that, as a result, the swap market is liquid. Caps, floors, and collars are more recent innovations for which standardized documentation has not yet been developed and, accordingly, they are less liquid than swaps. The use of equity swaps is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. If the Subadviser is incorrect in its forecasts of market values, interest rates, and other applicable factors, the investment performance of a Stock Fund would diminish compared with what it would have been if these investment techniques were not utilized. Moreover, even if the Subadviser is correct in its forecasts, there is a risk that the swap position may correlate imperfectly with the price of the asset or liability being hedged.

The liquidity of swap agreements will be determined by the Subadviser based on various factors, including (1) the frequency of trades and quotations, (2) the number of dealers and prospective purchasers in the marketplace, (3) dealer undertakings to make a market, (4) the nature of the security (including any demand or tender features), and (5) the nature of the marketplace for trades (including the ability to assign or offset a Stock Fund's rights and obligations relating to the investment). Such determination will govern whether a swap will be deemed within the percentage restriction on investments in securities that are not readily marketable.

There is no limit on the amount of equity swap transactions that may be entered into by a Stock Fund. These transactions do not involve the delivery of securities or other underlying assets or principal. Accordingly, the risk of loss with respect to equity swaps is limited to the net amount of payments that a Stock Fund is contractually obligated to make, if any. The effective use of swaps and related transactions by a Stock Fund may depend, among other things, on the Stock Fund's ability to terminate the transactions at times when the Subadviser deems it desirable to do so. Because swaps and related transactions are bilateral contractual arrangements

------

between a Stock Fund and counterparties to the transactions, the Stock Fund's ability to terminate such an arrangement may be

considerably more limited than in the case of an exchange-traded instrument. To the extent a Stock Fund does not, or cannot, terminate such a transaction in a timely manner, the Stock Fund may suffer a loss in excess of any amounts that it may have received, or expected to receive, as a result of entering into the transaction. If the other party to a swap defaults, the Stock Fund's risk of loss is the net amount of payments that the Stock Fund contractually is entitled to receive, if any. See "Derivatives" below.

Indexed Securities

Each Stock Fund may purchase securities whose prices are indexed to the prices of other securities, securities indexes, currencies, or other financial indicators. Indexed securities typically, but not always, are debt securities or deposits whose value at maturity or coupon rate is determined by reference to a specific instrument or statistic. Currency-indexed securities typically are short-term to intermediate-term debt securities whose maturity values or interest rates are determined by reference to the values of one or more specified foreign currencies, and may offer higher yields than U.S. dollar-denominated securities of equivalent issuers. Currency-indexed securities may be positively or negatively indexed; that is, their maturity value may increase when the specified currency value increases, resulting in a security that performs similarly to a foreign currency-denominated instrument, or their maturity value may decline when foreign currencies increase, resulting in a security whose price characteristics are similar to a put on the underlying currency. Currency-indexed securities may also have prices that depend on the values of a number of different foreign currencies relative to each other.

Nonregional Securities

To gain broader exposure to certain sectors or industries, each Stock Fund may invest in securities of issuers based outside of the region in which the Fund primarily invests. See "Foreign Securities and Foreign Issuers" for a discussion of risks associated with these types of investments.

Investors should note that a Stock Fund's ability to pursue certain of these strategies may be limited by applicable regulations of the Securities and Exchange Commission ("SEC"), the Commodity Futures Trading Commission ("CFTC"), and the federal income tax requirements applicable to regulated investment companies.

#### NATURAL DISASTERS
Certain areas of the world, including areas within the United States, historically have been prone to natural disasters, such as hurricanes, earthquakes, typhoons, flooding, tidal waves, tsunamis, erupting volcanoes, wildfires or droughts. Such disasters, and the resulting damage, could have a significant adverse impact on the economies of those areas and on the ability of issuers in which a Fund invests to conduct their businesses, and thus on the investments made by a Fund in such geographic areas and/or issuers. Adverse weather conditions could have a significant adverse impact on issuers in the agricultural sector and on insurance companies that insure against the impact of natural disasters.

#### INTERNATIONAL EQUITY FUND AND SUSTAINABLE SOLUTIONS FUND
Europe

A number of countries in Europe have experienced severe economic and financial difficulties. Many non-governmental issuers, and even certain governments, have defaulted on, or been forced to restructure, their debts; many other issuers have faced difficulties obtaining credit or refinancing existing obligations; financial institutions have in many cases required government or central bank support, have needed to raise capital, and/or have been impaired in their ability to extend credit; and financial markets in Europe and elsewhere have experienced extreme volatility and declines in asset values and liquidity. These difficulties may continue, worsen or spread within and outside of Europe. Responses to the financial problems by European governments, central banks and others, including austerity measures and reforms, may not work, may result in social unrest and may limit future growth and economic recovery or have other unintended consequences. Further defaults or restructurings by governments and others of their debt could have additional adverse effects on economies, financial markets and asset valuations around the world. On January 31, 2020, the United Kingdom withdrew from the European Union, commonly referred to as "Brexit." Following a transition period, the United Kingdom's post-Brexit trade agreement with the European Union passed into law in December 2020, was provisionally applied effective January 1, 2021, and formally entered into force on May 1, 2021. There is significant market uncertainty regarding Brexit's ramifications. The range and potential implications of possible political, regulatory, economic, and market outcomes cannot be fully known but could be significant, potentially resulting in increased volatility and illiquidity and lower economic growth for companies that rely significantly on Europe for their business activities and revenues. The United Kingdom has one of the largest economies in Europe and is a major trading partner with the European Union countries and the United States. Brexit may create additional and substantial economic stresses for the United Kingdom, including a contraction of the United Kingdom's economy, decreased trade, capital outflows,

------

devaluation of the British pound, as well as a decrease in business and consumer spending and investment. The negative impact on not only the United Kingdom and other European economies but also the broader global economy could be significant. Moreover, other countries may seek to withdraw from the European Union and/or abandon the euro, the common currency of the European Union. A number of countries in Europe have suffered terror attacks, and additional attacks may occur in the future. Europe has also been struggling with mass migration from the Middle East and Africa. The ultimate effects of these events and other socio-political or geopolitical issues are not known but could profoundly affect global economies and markets. Whether or not the Fund invests in securities of issuers located in Europe or with significant exposure to European issuers or countries, these events could negatively affect the value and liquidity of the Fund's investments due to the inter-connected nature of the global economy and capital markets.

Risks related to Russia's invasion of Ukraine

Russia's military invasion of Ukraine in February 2022 resulted in the United States, other countries and certain international organizations levying broad economic sanctions against Russia. These sanctions froze certain Russian assets and prohibited, among other things, trading in certain Russian securities and doing business with specific Russian corporate entities, large financial institutions, officials and oligarchs. The sanctions also included the removal of some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the electronic network that connects banks globally, and imposed restrictive measures to prevent the Russian Central Bank from undermining the impact of the sanctions. The United States and other countries have also imposed economic sanctions on Belarus and may impose sanctions on other countries that support Russia's military invasion. A number of large corporations and U.S. states have also announced plans to divest interests or otherwise curtail business dealings with certain Russian businesses. These sanctions and any additional sanctions or other intergovernmental actions that may be undertaken against Russia or other countries that support Russia's military invasion in the future may result in the devaluation of Russian or other affected currencies, a downgrade in the sanctioned country's credit rating, and a decline in the value and liquidity of Russian securities and securities of issuers in other countries that support the invasion. The potential for wider conflict may further decrease the value and liquidity of certain Russian securities and securities of issuers in other countries affected by the invasion. In addition, the ability to price, buy, sell, receive, or deliver such securities is also affected due to these measures. For example, a Fund may be prohibited from investing in securities issued by companies subject to such sanctions. In addition, the sanctions may require a Fund to freeze its existing investments in companies operating in or having dealings with Russia or other sanctioned countries, which would prevent the Fund from selling these investments. Any exposure that a Fund may have to Russian counterparties or counterparties in other sanctioned countries also could negatively impact the Fund's portfolio.

Additionally, Russia has taken retaliatory actions, including preventing repatriation of capital by U.S. and other investors. The ongoing conflict has resulted in significant market disruptions, including in certain markets, industries and sectors, such as the oil and natural gas markets, and has negatively affected global supply chains, food supplies, inflation and global growth. The extent and duration of Russia's military actions and the repercussions of such actions (including any sanctions, retaliatory actions and countermeasures, including cyber attacks) are impossible to predict. These and any related events could significantly impact a Fund's performance and the value of an investment in the Fund even beyond any direct exposure the Fund may have to Russian issuers or issuers in other countries directly affected by the invasion.

Investments in China

Risks of investments in securities of Chinese issuers include market volatility, heavy dependence on exports, which may decrease, sometimes significantly, when the world economy weakens, and the continuing importance of the role of the Chinese Government, which may take actions that affect economic and market practices. These actions may include regulatory measures, which may be adopted with little or no warning, that can severely restrict a company's business operations, with potentially dramatic adverse impacts on the market values of its securities. While the Chinese economy has grown rapidly in recent years, the rate of growth has been declining, and there can be no assurance that China's economy will continue to grow in the future. The Chinese economy could be adversely affected by supply chain disruptions. Trade disputes between China and its trading counterparties, including the United States, have arisen and may continue to arise. Such disputes have resulted in trade tariffs and may potentially result in future trade tariffs, as well as embargoes, trade limitations, trade wars and other negative consequences. The U.S. has also restricted the sale of certain goods to China. These consequences could trigger, among other things, a substantial reduction in international trade and adverse effects on, and potential failure of, individual companies and/or large segments of China's export industry, which could have potentially significant negative effects on the Chinese economy as well as the global economy. In addition, the political climate between the United States and China has recently deteriorated. The United States government has acted to prohibit U.S. persons, such as the Funds, from owning, and required them to divest, certain Chinese companies designated as related to the Chinese military. There is no assurance that more such companies will not be so designated in the future, which could limit a Fund's opportunities for investment and require the sale of securities at a loss or make them illiquid. If the political climate between the United States and China continues to deteriorate, economies and markets may be adversely affected. Further, Chinese companies are subject to the risk of de-listing on U.S. exchanges, if the United States Public Company Accounting Oversight Board (the "PCAOB") is unable to obtain access to inspect audit firms in China that are PCAOB-registered. While the PCAOB has recently obtained such access, there is no

------

assurance that it will continue. If that access is discontinued, Chinese companies that are listed on U.S. exchanges may be required to de-list, which could materially adversely affect the markets for their securities.

Taiwan and Hong Kong do not exercise the same level of control over their economies as does the People's Republic of China, but changes to their political and economic relationships with the People's Republic of China could adversely impact investments in Taiwan and Hong Kong. Following the establishment of the People's Republic of China by the Communist Party in 1949, the Chinese government renounced various debt obligations incurred by China's predecessor governments, which obligations remain in default, and expropriated assets without compensation. There can be no assurance that the Chinese government will not take similar action in the future. An investment in a Fund involves risk of a total loss. The potential political reunification of China and Taiwan is a highly problematic issue and could negatively affect Taiwan's economy and stock market. Hong Kong is closely tied to China, economically and through China's 1997 acquisition of the country as a Special Autonomous Region. China has committed by treaty to preserve Hong Kong's autonomy and its economic, political and social freedoms until 2047. However, China has in recent years curtailed Hong Kong's autonomy and freedoms, which has led to political unrest and eroded investor and business confidence in Hong Kong.

Military conflicts, either in response to internal social unrest or conflicts with other countries, could disrupt economic development. The Chinese economy is vulnerable to the long-running disagreements with Hong Kong related to integration and religious and nationalist disputes with Tibet and the Xinjiang region. China has a complex territorial dispute regarding the sovereignty of Taiwan that has included threats of invasion; Taiwan-based companies and individuals are significant investors in China. Military conflict between China and Taiwan may adversely affect securities of Chinese, Taiwan-based and other issuers both in and outside the region, adversely impact the economies of China and other Asian countries, disrupt supply chains, and severely affect global economies and markets. Risks of investments in issuers based in Hong Kong, a special administrative region of China, include heavy reliance on the U.S. economy and regional economies, particularly the Chinese economy, which makes these investments vulnerable to changes in these economies. These and related factors may result in adverse effects on investments in China and Hong Kong and have a negative impact on the performance of a Fund.

A Fund may invest in China A shares of certain Chinese companies listed and traded through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programs ("Stock Connect"). Stock Connect is a securities trading and clearing program established by Hong Kong Exchanges and Clearing Limited, the Shanghai Stock Exchange, the Shenzhen Stock Exchange and China Securities Depository and Clearing Corporation Limited, which seeks to provide mutual stock market access between Mainland China and Hong Kong. A Fund may also invest in Chinese interbank bonds traded on the China Interbank Bond Market through the China-Hong Kong Bond Connect program ("Bond Connect"). In China, the Hong Kong Monetary Authority Central Money Markets Unit holds Bond Connect securities on behalf of the ultimate investors (such as a Fund) in accounts maintained with a China-based custodian (either the China Central Depository & Clearing Co. or the Shanghai Clearing House). This recordkeeping system subjects a Fund to numerous risks, including the risk that the Fund may have a limited ability to enforce its rights as a bondholder and the risks of settlement delays and counterparty default of the Hong Kong sub-custodian. Furthermore, courts in China have limited experience in applying the concept of beneficial ownership.

Trading through Stock Connect or Bond Connect is subject to a number of restrictions and risks that could impair a Fund's ability to invest in or sell China A shares or Chinese interbank bonds, respectively, and affect investment returns, including limitations on trading and possible imposition of trading suspensions. For example, Stock Connect is subject to quotas that limit aggregate net purchases on an exchange on a particular day, and an investor cannot purchase and sell the same security through Stock Connect on the same trading day. In addition, both Stock Connect and Bond Connect are generally only available on business days when both the China and Hong Kong markets are open, which may limit a Fund's ability to trade when it would be otherwise attractive to do so. In addition, uncertainties in China's tax rules related to the taxation of income and gains from investments in China A shares or Chinese interbank bonds could result in unexpected tax liabilities for a Fund. Investing in China A shares and Chinese interbank bonds is also subject to the clearance and settlement procedures associated with Stock Connect and Bond Connect, which could pose risks to a Fund.

All transactions in Stock Connect or Bond Connect securities will be made in renminbi, and accordingly a Fund will be exposed to renminbi currency risks. The ability to hedge renminbi currency risks may be limited. In addition, given the renminbi is subject to exchange control restrictions, a Fund could be adversely affected by delays in converting other currencies into renminbi and vice versa and at times when there are unfavorable market conditions. Securities purchased through Bond Connect generally may not be sold, purchased or otherwise transferred other than through Bond Connect in accordance with applicable rules.

Both Stock Connect and Bond Connect are relatively new programs to the market and are subject to regulations promulgated by regulatory authorities and implementation rules made by the stock exchanges, with respect to Stock Connect, in China and Hong Kong. Furthermore, new regulations may be promulgated from time to time by the regulators in connection with operations and cross-border legal enforcement under Stock Connect and Bond Connect.

------

A Fund may invest in Chinese companies through a structure known as a variable interest entity ("VIE"), which is designed to provide foreign investors, such as a Fund, with exposure to Chinese companies in sectors in which foreign investment is not permitted. Under this structure, the Chinese operating company is the VIE and establishes a shell company in a foreign jurisdiction, such as the Cayman Islands, which is then listed on a foreign exchange. The shell company has no equity ownership in the VIE but has exposure to the VIE through contractual arrangements. However, the Fund is not a VIE owner or shareholder and cannot exert influence on the VIE through proxy voting. Until recently, the VIE structure was not formally recognized under Chinese law; while China has recently proposed rules that would recognize this structure, there is significant uncertainty as to how these rules would operate. The inability to enforce the contracts through which the shell company derives its value could result in permanent loss of a Fund's investment.

Foreign Securities and Foreign Issuers

Investing in the securities of foreign issuers involves special considerations that are not typically associated with investing in the securities of U.S. issuers. Investments in securities of foreign issuers may involve risks arising from differences between U.S. and foreign securities markets, including less volume, much greater price volatility in and illiquidity of certain foreign securities markets, greater difficulty in determining the fair value of securities, different trading and settlement practices, and less governmental supervision and regulation, from changes in currency exchange rates, from high and volatile rates of inflation, from economic, social, and political conditions such as wars, terrorism, civil unrest, and uprisings, and from fluctuating interest rates.

There may be less publicly available information about a foreign issuer than about a U.S. issuer, and foreign issuers may not be subject to the same accounting, auditing, and financial recordkeeping standards and requirements as U.S. issuers. In particular, the assets and profits appearing on the financial statements of a foreign issuer may not reflect its financial position or results of operations in the way they would be reflected had the financial statements been prepared in accordance with U.S. generally accepted accounting principles. In addition, for an issuer that keeps accounting records in local currency, inflation accounting rules may require, for both tax and accounting purposes, that certain assets and liabilities be restated on the issuer's balance sheet in order to express items in terms of currency of constant purchasing power. Inflation accounting may indirectly generate losses or profits. Consequently, financial data may be materially affected by restatements for inflation and may not accurately reflect the real condition of those issuers and securities markets. Finally, in the event of a default in any such foreign obligations, it may be more difficult for a Fund to obtain or enforce a judgment against the issuers of such obligations.

Other investment risks include the possible imposition of foreign withholding taxes on certain amounts of a Fund's income, the possible seizure or nationalization of foreign assets, and the possible establishment of exchange controls, expropriation, confiscatory taxation, other foreign governmental laws or restrictions that might affect adversely payments due on securities held by the Fund, the lack of extensive operating experience of eligible foreign subcustodians, and legal limitations on the ability of the Fund to recover assets held in custody by a foreign subcustodian in the event of the subcustodian's bankruptcy.

In some countries, banks or other financial institutions may constitute a substantial number of the leading companies or companies with the most actively traded securities. The 1940 Act limits a Fund's ability to invest in any equity security of an issuer that, in its most recent fiscal year, derived more than 15% of its revenues from "securities related activities," as defined by the rules thereunder. These provisions may also restrict the Fund's investments in certain foreign banks and other financial institutions.

There generally is less governmental supervision and regulation of exchanges, brokers, and issuers in foreign countries than there is in the United States. For example, there may be no comparable provisions under certain foreign laws to insider trading and similar investor protection securities laws that apply with respect to securities transactions consummated in the United States. Further, brokerage commissions and other transaction costs on foreign securities exchanges generally are higher than in the United States.

Foreign markets have different clearance and settlement procedures, and in certain markets there have been times when settlements have failed to keep pace with the volume of securities transactions, making it difficult to conduct such transactions. Further, satisfactory custodial services for investment securities may not be available in some countries having smaller, emerging capital markets, which may result in a Fund incurring additional costs and delays in transporting such securities outside such countries. Delays in settlement or other problems could result in periods when assets of a Fund are uninvested and no return is earned thereon. The inability of a Fund to make intended security purchases due to settlement problems or the risk of intermediary counterparty failures could cause a Fund to forego attractive investment opportunities. The inability to dispose of a portfolio security due to settlement problems could result either in losses to a Fund due to subsequent declines in the value of such portfolio security or, if the Fund has entered into a contract to sell the security, could result in possible liability to the purchaser.

Rules adopted under the 1940 Act permit a Fund to maintain its foreign securities and cash in the custody of certain eligible non-U.S. banks and securities depositories. Certain banks in foreign countries may not be "eligible subcustodians," as defined in the 1940 Act, for a Fund, in which event the Fund may be precluded from purchasing securities in certain foreign countries in which it otherwise would invest or where such purchase may result in a Fund incurring additional costs and delays in providing transportation and

------

custody services for such securities outside such countries. A Fund may encounter difficulties in effecting portfolio transactions on a timely basis with respect to any securities of issuers held outside their countries. Other banks that are eligible foreign subcustodians may be recently organized or otherwise lack extensive operating experience. In addition, in certain countries there may be legal restrictions or limitations on the ability of a Fund to recover assets held in custody by foreign subcustodians in the event of the bankruptcy of the subcustodian.

Certain of the risks associated with international investments and investing in smaller capital markets are heightened for investments in emerging market countries. For example, some of the currencies of emerging market countries have experienced devaluation relative to the U.S. dollar, and major adjustments have been made periodically in certain of such currencies. Certain of such countries face serious exchange constraints. In addition, governments of many emerging market countries have exercised and continue to exercise substantial influence over many aspects of the private sector. In certain cases, the government owns or controls many companies. Accordingly, government actions in the future could have a significant effect on economic conditions in developing countries that could affect private sector companies and consequently the value of certain securities held in a Fund's portfolio.

Investment in certain emerging market securities is restricted or controlled to varying degrees that may at times limit or preclude investment in certain emerging market securities and increase the costs and expenses of a Fund. Certain emerging market countries require governmental approval prior to investments by foreign persons, limit the amount of investment by foreign persons in a particular issuer, limit the investment by foreign persons only to a specific class of securities of an issuer that may have less advantageous rights than other classes, restrict investment opportunities in issuers in industries deemed important to national interests, and/or impose additional taxes on foreign investors.

The manner in which foreign investors may invest in companies in certain emerging market countries, as well as limitations on such investments, also may have an adverse impact on the operations of a Fund. For example, a Fund may be required in some countries to invest initially through a local broker or other entity and then have the shares purchased re-registered in the name of the Fund. Re-registration may in some instances not occur on a timely basis, resulting in a delay during which a Fund may be denied certain of its rights as an investor.

Certain emerging market countries may require governmental approval for the repatriation of investment income, capital, or the proceeds of sales of securities by foreign investors that could adversely affect a Fund. In addition, if deterioration occurs in the country's balance of payments, it could impose temporary restrictions on foreign capital remittances. Investing in local markets in emerging market countries may require a Fund to adopt special procedures, seek local government approvals, or take other actions, each of which may involve additional costs to the Fund.

With respect to investments in certain emerging market countries, different legal standards may have an adverse impact on a Fund. For example, while the potential liability of a shareholder in a U.S. corporation with respect to acts of the corporation is generally limited to the amount of the shareholder's investment, the notion of limited liability is less clear in certain emerging market countries. Similarly, the rights of investors in emerging market companies may be more limited than those of shareholders of U.S. corporations.

Certain markets are in only the earliest stages of development. There is also a high concentration of market capitalization and trading volume in a small number of issuers representing a limited number of industries, as well as a high concentration of investors and financial intermediaries. Many of such markets also may be affected by developments with respect to more established markets in the region. Brokers in emerging market countries typically are fewer in number and less capitalized than brokers in the United States. These factors, combined with the U.S. regulatory requirements for open-end investment companies and the restrictions on foreign investment, result in potentially fewer investment opportunities for a Fund and may have an adverse impact on the investment performance of the Fund.

Supranational Obligations

Supranational entities include international organizations designated or supported by governmental entities to promote economic reconstruction or development and international banking institutions and related government agencies. Examples include the World Bank, the European Investment Bank, the European Bank for Reconstruction and Development, the Asian Development Bank, and the Inter-American Development Bank. Supranational issued instruments may be denominated in multinational currency units. Obligations of the World Bank and certain other supranational organizations are supported by subscribed but unpaid commitments of member countries. There is no assurance that these commitments will be undertaken or complied with in the future.

Depositary Receipts

Securities of foreign issuers may be purchased directly or through depositary receipts, such as American Depositary Receipts ("ADRs"), European Depositary Receipts ("EDRs"), and Global Depositary Receipts ("GDRs"), or other securities representing underlying shares of foreign companies. Generally, ADRs, in registered form, are designed for use in U.S. securities markets and

------

EDRs and GDRs, in bearer form, are designed for use in European and global securities markets. ADRs are receipts typically issued by a U.S. bank or trust company evidencing ownership of the underlying securities. EDRs and GDRs are European and global receipts, respectively, evidencing a similar arrangement.

ADRs, EDRs, and GDRs are issued through "sponsored" or "unsponsored" arrangements. In a sponsored arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary's transaction fees, whereas under an unsponsored arrangement, the foreign issuer assumes no obligation and the depositary's transaction fees are paid by the holders. In addition, less information is generally available in the United States about the issuer of an unsponsored depositary receipt as it is for the issuer of a sponsored depositary receipt.

Risks of Derivatives Outside the United States

When conducted outside the United States, Derivatives transactions may not be regulated as rigorously as in the United States, may not involve a clearing mechanism and related guarantees, and will be subject to the risk of governmental actions affecting trading in, or the prices of, foreign securities, currencies, and other instruments. In addition, the price of any foreign futures or foreign options contract and, therefore, the potential profit and loss thereon, may be affected by any variance in the foreign exchange rate between the time an order is placed and the time it is liquidated, offset, or exercised. The value of positions taken as part of non-U.S. Derivatives also could be adversely affected by: (1) other complex foreign political, legal, and economic factors, (2) lesser availability of data on which to make trading decisions than in the United States, (3) delays in a Fund's ability to act upon economic events occurring in foreign markets during nonbusiness hours in the United States, (4) the imposition of different exercise and settlement terms and procedures and margin requirements than in the United States, and (5) lower trading volume and liquidity.

#### BOND FUND
Bank Obligations

The Bond Fund may invest in bank obligations, including the following:

o Certificates of deposit, which are negotiable interest-bearing instruments with a specific maturity. Certificates of deposit are issued by banks and savings and loan institutions in exchange for the deposit of funds and normally can be traded in the secondary market prior to maturity.

o Time deposits (including Eurodollar time deposits), which are non-negotiable receipts issued by a bank in exchange for the deposit of funds. Time deposits earn a specified rate of interest over a definite period of time, but cannot be traded in the secondary market. Time deposits with a withdrawal penalty are considered to be illiquid securities.

o Bankers' acceptances, which are bills of exchange or time drafts drawn on and accepted by a commercial bank. They are used by corporations to finance the shipment and storage of goods and to furnish dollar exchange. Maturities are generally six months or less.

o Other short-term debt obligations.

The Bond Fund's investments in bank obligations are particularly susceptible to adverse events in the banking industry. Banks are highly regulated. Decisions by regulators may limit the loans banks make and the interest rates and fees they charge, and may reduce bank profitability. Banks also depend on being able to obtain funds at reasonable costs to finance their lending operations. This makes them sensitive to changes in money market and general economic conditions. When a bank's borrowers get in financial trouble, their failure to repay the bank will also negatively affect the bank's financial situation.

Bank obligations may be issued by domestic banks, foreign subsidiaries, or foreign branches of domestic banks, domestic and foreign branches of foreign banks, domestic savings and loan associations, and other banking institutions. Such investments in domestic branches of foreign banks and foreign branches of domestic banks may involve risks that are different from investments in securities of domestic branches of U.S. banks. These risks may include future unfavorable political and economic developments, possible withholding taxes on interest income, seizure or nationalization of foreign deposits, currency controls, interest limitations, or other governmental restrictions, which might affect the payment of principal or interest on the securities held by a Fund. Additionally, these institutions may be subject to less stringent reserve requirements and to different accounting, auditing, reporting and recordkeeping requirements than those applicable to domestic branches of U.S. banks. The Bond Fund may invest in U.S. dollar-denominated obligations of domestic branches of foreign banks and foreign branches of domestic banks only when the Subadviser believes that the risks associated with such investment are minimal and that all applicable quality standards have been satisfied.

------

Commercial Paper

The Bond Fund may invest in commercial paper, which is unsecured debt of corporations usually maturing in 270 days or less from its date of issuance.

Variable Rate Obligations

Unlike most bonds, which pay a fixed rate of interest, variable rate debt obligations pay interest at rates that change based on market interest rates. Interest rates on variable rate obligations may move in the same or in the opposite direction as market interest rates and may increase or decrease based on a multiple of the change in a market interest rate. These obligations tend to be highly sensitive to interest rate movements.

The loans in which the Bond Fund invests are subject to the risk of loss of principal and income. Although borrowers frequently provide collateral to secure repayment of these obligations, they do not always do so. If they do provide collateral, the value of the collateral may not completely cover the borrower's obligations at the time of a default. If a borrower files for protection from its creditors under the U.S. bankruptcy laws, these laws may limit the Fund's rights to its collateral. In addition, the value of collateral may erode during a bankruptcy case. In the event of a bankruptcy, the holder of a loan may not recover its principal, may experience a long delay in recovering its investment and may not receive interest during the delay. Additionally, with respect to loan participations, the Bond Fund, as a participant in a loan, will not have any direct claim on the loan or against the borrower, and the Bond Fund may be subject to greater delays, expenses and risks than would have been involved if the Bond Fund had purchased a direct obligation of the borrower.

Mortgage-backed Securities

The Bond Fund may invest in mortgage-backed securities, which are securities representing interests in pools of mortgage loans. Interests in pools of mortgage-related securities differ from other forms of debt instruments, which normally provide for periodic payment of interest in fixed amounts with principal payments at maturity or specified call dates. Instead, these securities provide a monthly payment that consists of both interest and principal payments. In effect, these payments are a "pass-through" of the monthly payments made by the individual borrowers on their mortgage loans, net of any fees paid to the issuer or guarantor of such securities. Additional payments are caused by prepayments of principal resulting from the sale, refinancing, or foreclosure of the underlying property, net of fees or costs that may be incurred. The market value and interest yield of these instruments can vary due to market interest rate fluctuations and early prepayments of underlying mortgages.

The principal governmental issuers or guarantors of mortgage-backed securities are the Government National Mortgage Association ("Ginnie Mae"), Fannie Mae (formerly the Federal National Mortgage Association) ("Fannie Mae"), and Freddie Mac (formerly the Federal Home Loan Mortgage Corporation) ("Freddie Mac"). Obligations of Ginnie Mae are backed by the full faith and credit of the U.S. government while obligations of Fannie Mae and Freddie Mac are supported by the respective agency only. In 2008, the U.S. Treasury Department and the Federal Housing Finance Administration ("FHFA") announced that Fannie Mae and Freddie Mac would be placed into a conservatorship under FHFA. Although the U.S. government has provided financial support to Fannie Mae and Freddie Mac there can be no assurance that it will support these or other government-sponsored enterprises in the future.

A portion of the Bond Fund's assets may be invested in collateralized mortgage obligations ("CMOs"), which are debt obligations collateralized by mortgage loans or mortgage pass-through securities. Typically, CMOs are collateralized by certificates issued by Ginnie Mae, Fannie Mae, or Freddie Mac but also may be collateralized by whole loans or private mortgage pass-through securities (such collateral collectively hereinafter referred to as "Mortgage Assets"). The Bond Fund may also invest a portion of its assets in multi-class pass-through securities, which are interests in a trust composed of Mortgage Assets. CMOs (which include multi-class pass-through securities) may be issued by agencies, authorities, or instrumentalities of the U.S. government or by private originators of or investors in mortgage loans, including savings and loan associations, mortgage banks, commercial banks, investment banks, and special purpose subsidiaries of the foregoing. Payments of principal and interest on the Mortgage Assets, and any reinvestment income thereon, provide the funds to pay debt service on the CMOs or make scheduled distributions on the multi-class pass-through securities. In a CMO, a series of bonds or certificates is usually issued in multiple classes with different maturities. The class of CMO, often referred to as a "tranche," is issued at a specific fixed or floating coupon rate and has a stated maturity or final distribution date. Principal prepayments on the Mortgage Assets may cause the CMOs to be retired substantially earlier than their stated maturities or final distribution dates, resulting in a loss of all or part of the premium if any has been paid. Interest is paid or accrues on all classes of the CMOs on a monthly, quarterly, or semiannual basis. The principal and interest on the Mortgage Assets may be allocated among the several classes of a series of a CMO in various ways. In a common structure, payments of principal, including any principal prepayments, on the Mortgage Assets are applied to the classes of the series of a CMO in the order of their respective stated maturities

------

or final distribution dates, so that no payment of principal will be made on any class of CMOs until all other classes having an earlier stated maturity or final distribution date have been paid in full.

The Bond Fund also may invest in real estate mortgage investment conduits ("REMICs"). REMICs, which were authorized under the Tax Reform Act of 1986, are private entities formed for the purpose of holding a fixed pool of mortgages secured by an interest in real property. REMICs are similar to CMOs in that they issue multiple classes of securities.

Even if the U.S. government or one of its agencies guarantees principal and interest payments of a mortgage-backed security, the market price of a mortgage-backed security is not insured and may be subject to market volatility. When interest rates decline, mortgage-backed securities experience higher rates of prepayment because the underlying mortgages are refinanced to take advantage of the lower rates. The prices of mortgage-backed securities may not increase as much as prices of other debt obligations when interest rates decline, and mortgage-backed securities may not be an effective means of locking in a particular interest rate. In addition, any premium paid for a mortgage-backed security may be lost when it is prepaid. When interest rates go up, mortgage-backed securities experience lower rates of prepayment. This has the effect of lengthening the expected maturity of a mortgage-backed security. This particular risk, referred to as "maturity extension risk," may effectively convert a security that was considered short- or intermediate-term at the time of purchase into a long-term security. The prices of long-term securities generally fluctuate more widely than short- or intermediate-term securities in response to changes in interest rates. Thus, rising interest rates would not only likely decrease the value of the Bond Fund's fixed-income securities, but would also increase the inherent volatility of the Fund by effectively converting short-term debt instruments into long-term debt instruments. As a result, prices of mortgage-backed securities may decrease more than prices of other debt obligations when interest rates go up.

Corporate Asset-backed Securities

The Bond Fund may invest in corporate asset-backed securities. These securities, issued by trusts and special purpose corporations, are backed by a pool of assets, such as credit card and automobile loan receivables, representing the obligations of a number of different parties.

Corporate asset-backed securities present certain risks. For instance, in the case of credit card receivables, these securities may not have the benefit of any security interest in the related collateral. Credit card receivables are generally unsecured and the debtors are entitled to the protection of a number of state and federal consumer credit laws, many of which give such debtors the right to set off certain amounts owed on the credit cards, thereby reducing the balance due. Most issuers of automobile receivables permit the servicers to retain possession of the underlying obligations. If the servicer were to sell these obligations to another party, there is a risk that the purchaser would acquire an interest superior to that of the holders of the related automobile receivables. In addition, because of the large number of vehicles involved in a typical issuance and technical requirements under state laws, the trustee for the holders of the automobile receivables may not have a proper security interest in all of the obligations backing such receivables. Therefore, there is the possibility that recoveries on repossessed collateral may not, in some cases, be available to support payments on these securities. The underlying assets (e.g., loans) are also subject to prepayments that shorten the securities' weighted average life and may lower their return.

Corporate asset-backed securities are often backed by a pool of assets representing the obligations of a number of different parties. To lessen the effect of failures by obligors on underlying assets to make payments, the securities may contain elements of credit support that fall into two categories: (a) liquidity protection and (b) protection against losses resulting from ultimate default by an obligor on the underlying assets. Liquidity protection refers to the provision of advances, generally by the entity administering the pool of assets, to ensure that the receipt of payments on the underlying pool occurs in a timely fashion. Protection against losses resulting from ultimate default ensures payment through insurance policies or letters of credit obtained by the issuer or sponsor from third-parties. The degree of credit support provided for each issue is generally based on historical information regarding the level of credit risk associated with the underlying assets. Delinquency or loss in excess of that anticipated or failure of the credit support could adversely affect the return on an investment in such a security.

Mortgage "Dollar Rolls"

The Bond Fund may enter into mortgage dollar roll transactions. In these transactions, the Bond Fund sells mortgage-backed securities for delivery in the future and at the same time contracts to repurchase substantially similar securities on a specified future date. During the roll period, the Bond Fund does not receive principal and interest paid on the mortgage-backed securities. The Bond Fund is compensated for the lost principal and interest by the difference between the current sales price and the lower price for the future purchase (often referred to as the "drop") as well as by the interest earned on the cash proceeds of the initial sale. The Bond Fund may also be compensated by receipt of a commitment fee. However, the Bond Fund takes the risk that the market price of the mortgage-backed security may drop below the future purchase price. When the Bond Fund uses a mortgage dollar roll, it is also subject to the risk that the other party to the agreement will not be able to perform.

------

A Fund may enter into mortgage dollar roll transactions notwithstanding the limitation on the issuance of senior securities in Section 18 of the Investment Company Act, provided that the Fund complies with Rule 18f-4 under the 1940 Act. See "Derivatives" below. Securities Ratings

The Bond Fund may purchase investment-grade securities rated above Baa by Moody's Investors Service, Inc. ("Moody's"), BBB by S&P, and BBB by Fitch, respectively, and those securities that the Fund's Subadviser believe to be of comparable quality. To the extent the Bond Fund is permitted to invest in below investment-grade securities it may have exposure to securities rated below Baa, BBB, or BBB by Moody's, S&P and Fitch, respectively. These lower rated securities may have poor protection of payment of principal and interest. These securities are often considered to be speculative and involve greater risk of default or price changes due to changes in the issuer's creditworthiness than securities assigned a higher quality rating. The market prices of these securities may go up and down more than higher-rated securities and may go down significantly in periods of general economic difficulty that may follow periods of rising interest rates. A description of the ratings applied by Moody's, S&P and Fitch is included in Appendix A.

Call Features

Certain securities held by the Bond Fund may permit the issuer at its option to "call," or redeem, its securities. If an issuer were to redeem securities held by the Bond Fund during a time of declining interest rates, the Bond Fund may have to reinvest that money at the lower prevailing interest rates.

Zero Coupon Bonds, Deferred Interest Bonds, and PIK Bonds

The Bond Fund may invest in debt obligations called zero coupon bonds, deferred interest bonds, and payment-in-kind ("PIK") bonds. Zero coupon bonds do not pay any interest. Instead, zero coupon bonds are issued at a significant discount from the value the Bond Fund expects to receive upon maturity. Deferred interest bonds are similar to zero coupon bonds except that they begin to pay interest after some delay. Although PIK bonds may pay interest in cash, they also are similar to zero coupon bonds or deferred interest bonds because the issuer has the option to make interest payments in additional debt obligations rather than cash. Because these bonds may not pay interest at regular intervals, changes in interest rates affect the value of zero coupon, deferred interest, and PIK bonds more than debt obligations that pay regular interest, and the credit risk of these bonds tends to be greater than the credit risk of debt obligations that pay regular interest. Even though zero coupon, deferred interest, and PIK bonds may not make payments of interest until maturity or until after a delay, the Bond Fund is required to accrue interest income on such investments and to distribute such amounts at least annually to shareholders. Thus, it may be necessary at times for the Bond Fund to sell investments in order to make these distribution payments.

Stripped Securities

The Bond Fund may invest in stripped securities, such as interest-only strips (called IOs), which may receive only interest payments, and other types of stripped securities, such as principal-only strips (called POs), which may receive only principal payments. Stripped securities are more sensitive to changes in interest rates than are certain other debt instruments. The value of IOs generally will decrease as interest rates increase. As interest rates decrease, the Bond Fund's investments in IOs may be adversely affected by a rapid rate of principal payments (including prepayments) on the underlying securities. A rapid rate of principal payments (including prepayments) may cause an IO to mature before the Bond Fund recovers its initial investment in the security. Conversely, if interest rates increase, the Bond Fund's investments in POs may be adversely affected by a lower than expected rate of principal payments (including prepayments) on the underlying securities. A lower rate of principal payments (including prepayments) effectively extends the maturity of a PO.

Swaps and Related Investments

The Bond Fund may use a variety of swaps, including, but not limited to, credit- and event-linked swaps, interest rate swaps, swaps on specific securities or indices, swaps on rates (such as mortgage prepayment rates) and other types of swaps, such as caps, collars and floors, to hedge against a change in inflation, interest rates or other rates that could affect the value of securities in its portfolio. In addition, to the extent the Bond Fund is permitted to invest in foreign currency-denominated securities, it may invest in currency swaps. Interest rate swaps involve the exchange by the Bond Fund with another party of their respective commitments to pay or receive interest. An equity swap is an agreement to exchange cash flows on a principal amount based on changes in the values of the reference index. In a typical cap or floor agreement, one party agrees to make payments only under specified circumstances, usually in return for payment of a fee by the counterparty. For example, the purchase of an interest rate cap entitles the buyer, to the extent that a specified index exceeds a predetermined interest rate, to receive payments of interest on a contractually based principal amount from the counterparty selling such interest rate cap. The sale of an interest rate floor obligates the seller to make payments to the extent that a specified interest rate falls below an agreed-upon level. A collar arrangement combines elements of buying a cap and selling a floor.

------

Depending on how they are used, swap agreements may increase or decrease the overall volatility of a Fund's investments and its share price and yield. Investing in swaps and utilizing these and related techniques in managing a Fund portfolio, are highly

specialized activities that involve investment techniques and risks different from those associated with ordinary portfolio transactions. These investments involve significant risk of loss. The most significant factor in the performance of swaps, caps, floors, and collars is the change in the specific interest rate, equity, or other factor that determines the amount of payments to be made under the arrangement. Whether the Fund's use of swaps will be successful in furthering its investment objective will depend on the applicable Subadviser's ability to predict correctly whether certain types of investments are likely to produce greater returns than other investments. If the Subadviser is incorrect in its forecast of such factors, the utilization of swap arrangements and related techniques could negatively impact the Bond Fund's performance. If a swap agreement calls for payments by the Bond Fund, the Bond Fund must be prepared to make such payments when due. The Bond Fund will not enter into any swap unless the Adviser or the Bond Fund Subadviser deems the counterparty to be creditworthy.

If the creditworthiness of the Bond Fund's swap counterparty declines, it becomes more likely that the counterparty will fail to meet its obligations under the contract, and consequently the Fund will suffer losses. Although there can be no assurance that a Fund will be able to do so, a Fund may be able to reduce or eliminate its exposure under a swap agreement either by assignment or other disposition, or by entering into an offsetting swap agreement with the same party or another creditworthy party. However, a Fund may have limited ability to eliminate its exposure under a credit default swap if the credit of the reference entity or underlying asset has declined. There can be no assurance that a Fund will be able to enter into swap transactions at prices or on terms the applicable Subadviser believes are advantageous to such Fund. In addition, although the terms of swaps, caps, collars and floors may provide for termination, there can be no assurance that a Fund will be able to terminate a swap or to sell or offset caps, collars or floors that it has purchased.

The swaps market is largely unregulated. It is possible that developments in the swaps market, including potential government regulation, could adversely affect a Fund's ability to terminate existing swap agreements or to realize amounts to be received under such agreements. The Bond Fund will maintain liquid assets with its custodian or otherwise cover its current obligations under swap transactions in accordance with current regulations and policies applicable to the Fund. When a Fund is a protection seller in a credit default swap it will segregate assets equivalent to the full notional value of the swap.

Swap agreements are subject to the Bond Fund's overall limit that not more than 15% of its net assets may be invested in illiquid securities. See "Derivatives" below.

Structured Notes and Indexed Securities

The Bond Fund may invest in structured notes and indexed securities. A structured note is a debt security with its interest rate or principal determined by reference to changes in the value of specific currencies, interest rates, commodities, indexes, or other financial indicators, or the relative change in two or more financial indicators. Indexed securities include structured notes as well as securities other than debt instruments, with their interest rates or principal determined by one or more financial indicators.

Structured notes and indexed securities may be more volatile, less liquid, and more difficult to accurately price than less complex fixed-income investments. These securities generally expose the Bond Fund to credit risks equal to that of the underlying financial indicators. The interest rate or the principal amount payable upon maturity of a structured note or indexed security may go up or down depending on changes in the underlying indicators. Structured notes and indexed securities often are less liquid than other debt instruments because they are typically sold in private placement transactions with no active trading market.

To Be Announced (TBA) Securities, When-Issued Securities and Forward Commitments of Purchases on a "When-Issued" Basis

The Bond Fund may invest a significant portion of its assets in TBA securities, including when-issued and delayed delivery securities, forward commitments, or commitments to purchase securities on a "when-issued" basis. TBA Securities, forward commitments, when-issued or delayed-delivery transactions arise when securities are purchased or sold with payment and delivery taking place in the future in order to secure what is considered to be an advantageous price and yield at the time of entering into the transaction. The price of such securities is fixed at the time of the commitment and delivery and payment normally take place beyond conventional settlement time after the date of commitment to purchase. The Fund will make commitments to purchase obligations on a "when-issued" basis only with the intention of actually acquiring the securities, but may sell them before the settlement date. The "when-issued" securities are subject to market fluctuation, and no interest accrues on the security to the purchaser during this period. The payment obligation and the interest rate that will be received on the securities are each fixed at the time the purchaser enters into the commitment. Purchasing obligations on a "when-issued" basis is a form of leveraging and can involve a risk that the yields available in the market when the delivery takes place may actually be higher than those obtained in the transaction itself. In that case, there could be an unrealized loss at the time of delivery.

------

TBA securities, forward commitments, when-issued or delayed-delivery transactions involve the risk that the security the Fund buys will lose value prior to its delivery. There are also the risks that the security will never be issued or that the other party to the

transaction will not meet its obligation. If this occurs, the Fund loses both the investment opportunity for the assets it set aside to pay for the security and any gain in the security's price.

A Fund may enter into TBA securities, when-issued securities and forward commitments notwithstanding the limitation on the issuance of senior securities in Section 18 of the Investment Company Act, provided that the Fund complies with Rule 18f-4 under the 1940 Act. See "Derivatives" below.

Futures Contracts

Subject to applicable laws, the Bond Fund may purchase and sell futures contracts based on various securities, securities indexes, and other financial instruments and indexes. The Fund intends to use futures contracts only for bona fide hedging purposes. Futures contracts provide for the future sale by one party and purchase by another party of a specified amount of a specified security or financial instrument at a specified future time and at a specified price. A "sale" of a futures contract entails a contractual obligation to deliver the underlying securities or financial instruments called for by the contract, and a "purchase" of a futures contract entails a contractual obligation to acquire such securities or financial instruments, in each case in accordance with the terms of the contract. Futures contracts must be executed through a futures commission merchant, or brokerage firm, that is a member of an appropriate exchange designated as a "contract market" by the Commodity Futures Trading Commission (the "CFTC").

When the Fund purchases or sells a futures contract, the Fund must allocate certain of its assets as an initial deposit on the contract. The initial deposit may be as low as approximately 5% or less of the value of the contract. The futures contract is marked to market daily thereafter, and the Fund may be required to pay or entitled to receive additional "variation margin," based on decrease or increase in the value of the futures contract.

Futures contracts call for the actual delivery or acquisition of securities, or in the case of futures contracts based on indexes, the making or acceptance of a cash settlement at a specified future time; however, the contractual obligation is usually fulfilled before the date specified in the contract by closing out the futures contract position through the purchase or sale, on a commodities exchange, of an identical futures contract. Positions in futures contracts may be closed out only if a liquid secondary market for such contract is available, and there can be no assurance that such a liquid secondary market will exist for any particular futures contract.

The Fund's ability to hedge effectively through transactions in futures contracts depends on, among other factors, the Adviser's or the Subadviser's judgment as to the expected price movements in the securities or financial instruments underlying the futures contracts. In addition, it is possible in some circumstances that the Fund would have to sell securities from its portfolio to meet "variation margin" requirements at a time when it may be disadvantageous to do so. See "Derivatives" below.

Options on Futures Contracts

The Bond Fund may purchase and write options to buy or sell futures contracts in which the Fund may otherwise invest. These investment strategies may be used for hedging purposes.

An option on a futures contract provides the holder with the right to enter into a "long" position in the underlying futures contract, in the case of a call option, or a "short" position in the underlying futures contract, in the case of a put option, at a fixed exercise price up to a stated expiration date or, in the case of certain options, on such date. Upon exercise of the option by the holder, the contract market clearinghouse establishes a corresponding short position for the writer of the option, in the case of a call option, or a corresponding long position in the case of a put option. In the event that an option is exercised, the parties will be subject to all the risks associated with the trading of futures contracts, such as payment of initial and variation margin deposits. In addition, the writer of an option on a futures contract, unlike the holder, is subject to initial and variation margin requirements on the option position.

A position in an option on a futures contract may be terminated by the purchaser or seller prior to expiration by effecting a closing purchase or sale transaction, subject to the availability of a liquid secondary market, which is the purchase or sale of an option of the same series (i.e., the same exercise price and expiration date) as the option previously purchased or sold. The difference between the premiums paid and received represents the trader's profit or loss on the transaction.

Options on futures contracts that are written or purchased by the Fund on U.S. exchanges are traded on the same contract market as the underlying futures contract, and, like futures contracts, are subject to regulation by the CFTC and the performance guarantee of the exchange clearinghouse. In addition, options on futures contracts may be traded on foreign exchanges.

------

The Fund may cover the writing of call options on futures contracts (a) through purchases of the underlying futures contract or (b) through the holding of a call on the same futures contract and in the same principal amount as the call written where the exercise price of the call held (i) is equal to or less than the exercise price of the call written or (ii) is greater than the exercise price of the call written if the difference is maintained by the Fund in cash and/or cash equivalents or other liquid high-grade debt securities. The Fund may cover the writing of put options on futures contracts (a) through sales of the underlying futures contract, (b) through maintenance of cash and/or cash equivalents or other liquid high-grade debt securities in an amount equal to the value of the security underlying the futures contract, or (c) through the holding of a put on the same futures contract and in the same principal amount as the put written where the exercise price of the put held is equal to or greater than the exercise price of the put written or where the exercise price of the put held is less than the exercise price of the put written if the difference is maintained by the Fund in cash and/or cash equivalents or other liquid high-grade debt securities. Put and call options on futures contracts may also be covered in such other manner as may be in accordance with the rules of the exchange on which the option is traded and applicable laws and regulations. Upon the exercise of a call option on a futures contract written by the Fund, the Fund will be required to sell the underlying futures contract, which, if the Fund has covered its obligation through the purchase of such contract, will serve to liquidate its futures position. Similarly, where a put option on a futures contract written by the Fund is exercised, the Fund will be required to purchase the underlying futures contract, which, if the Fund has covered its obligation through the sale of such contract, will close out its futures position.

The writing of a call option on a futures contract constitutes a partial hedge against declining prices of the securities or financial instruments deliverable on exercise of the futures contract. The Fund will receive an option premium when it writes the call, and, if the price of the futures contract at expiration of the option is below the option exercise price, the Fund will retain the full amount of this option premium, which provides a partial hedge against any decline that may have occurred in the Fund's security holdings. Similarly, the writing of a put option on a futures contract constitutes a partial hedge against increasing prices of the securities or financial instruments deliverable upon exercise of the futures contract. If the Fund writes an option on a futures contract and that option is exercised, the Fund may incur a loss, which loss will be reduced by the amount of the option premium received, less related transaction costs. The Fund's ability to hedge effectively through transactions in options on futures contracts depends on, among other factors, the degree of correlation between changes in the value of securities or other financial instruments held by the Fund and changes in the value of its futures positions. This correlation cannot be expected to be exact, and the Fund bears a risk that the value of the futures contract being hedged will not move in the same amount, or even in the same direction, as the hedging instrument. Thus it may be possible for the Fund to incur a loss on both the hedging instrument and the futures contract being hedged.

The Fund may purchase options on futures contracts for hedging purposes instead of purchasing or selling the underlying futures contracts. For example, where a decrease in the value of portfolio securities is anticipated as a result of a projected market wide decline or changes in interest or exchange rates, the Fund could, in lieu of selling futures contracts, purchase put options thereon. In the event that such decrease occurs, it may be offset, in whole or part, by a profit on the option. Conversely, where it is projected that the value of securities to be acquired by the Fund will increase prior to acquisition, due to a market advance or changes in interest or exchange rates, the Fund could purchase call options on futures contracts, rather than purchasing the underlying futures contracts.

Futures contracts and options on futures contracts may be entered into on U.S. exchanges regulated by the CFTC and on foreign exchanges. The securities underlying options and futures contracts traded by the Fund may include domestic as well as foreign securities, subject to the Fund's investment objectives. Investors should recognize that transactions involving foreign securities or foreign currencies, and transactions entered into in foreign countries, may involve considerations and risks not typically associated with investing in U.S. markets. See "Derivatives" below.

#### GENERAL INVESTMENT TECHNIQUES AND POLICIES APPLYING TO EACH FUND AS SPECIFIED BELOW
Investment Company Securities

Securities of other investment companies may be acquired by each of the Funds to the extent permitted under the 1940 Act and consistent with its investment objective and strategies. These limits generally require that, as determined immediately after a purchase is made, (i) not more than 5% of the value of a Fund's total assets will be invested in the securities of any one investment company, (ii) not more than 10% of the value of its total assets will be invested in the aggregate in securities of investment companies as a group, and (iii) not more than 3% of the outstanding voting stock of any one investment company will be owned by a Fund, provided, however, that a Fund may invest all of its investable assets in an open-end investment company that has the same investment objective as the Fund. Rule 12d1-4 under the 1940 Act permits acquiring funds to invest in the securities of other investment companies beyond the statutory limits, subject to certain conditions. As a shareholder of another investment company, a Fund would bear, along with other shareholders, its pro rata portion of the other investment company's expenses, including advisory fees. These expenses would be in addition to the advisory and other fees that a Fund bears directly in connection with its own operations. The main risk of investing in other investment companies is the risk that the value of the underlying securities might decrease.

------

Convertible Securities

Each Fund may invest in convertible securities. Convertible securities are typically preferred stock or bonds that are convertible into common stock at a specified price or conversion ratio. Because they have the characteristics of both fixed-income securities and common stock, convertible securities are sometimes called "hybrid" securities. Convertible bonds, debentures, and notes are debt obligations offering a stated interest rate; convertible preferred stocks are senior securities of a company offering a stated dividend rate. Convertible bonds are subject to the market risk of stocks, and, like other bonds, are also subject to interest rate risk, prepayment and extension risk, and the credit risk of their issuers. Convertible securities will at times be priced in the market like other fixed-income securities — that is, their prices will tend to rise when interest rates decline and will tend to fall when interest rates rise.

However, because a convertible security provides an option to the holder to exchange the security for either a specified number of the issuer's common shares at a stated price per share or the cash value of such common shares, the security market price will tend to fluctuate in relationship to the price of the common shares into which it is convertible. Thus, convertible securities will ordinarily provide opportunities for producing both current income and longer-term capital appreciation. Convertible bonds tend to offer lower rates of interest than nonconvertible bonds because the stock conversion feature represents increased potential for capital gains. Because convertible securities are usually viewed by the issuer as future common stock, they are generally subordinated to other senior securities and therefore are rated one category lower than the issuer's nonconvertible debt obligations or preferred stock. Call provisions on convertible bonds may allow the issuer to repay the debt before it matures. This may hurt the Fund's performance because it may have to reinvest the money repaid at a lower rate.

Borrowing

Each Fund may borrow in certain limited circumstances. See "Investment Restrictions." Borrowing creates an opportunity for increased return, but, at the same time, creates special risks. For example, borrowing may exaggerate changes in the net asset value of a Fund's shares and in the return on the Fund's portfolio. A Fund may be required to liquidate portfolio securities at a time when it would be disadvantageous to do so in order to make payments with respect to any borrowing, which could affect the strategy of the Adviser and Subadviser. Interest on any borrowings will be a Fund expense and will reduce the value of the Fund's shares.

Illiquid Investments

Each of the Stock Funds may invest up to 15% of its net assets in illiquid securities, or securities for which there is no readily available market. The Bond Fund may invest up to 15% of its net assets in illiquid securities, or securities for which there is no readily available market, including privately placed restricted securities. The absence of a trading market may make it difficult to establish a market value for illiquid securities. It may be difficult or impossible for a Fund to sell illiquid securities at the desired time and at an acceptable price.

Rule 144A Securities

Each Fund may invest in certain restricted securities ("Rule 144A securities") for which there is a secondary market of qualified institutional buyers, as defined in Rule 144A under the Securities Act of 1933, as amended (the "1933 Act"). Rule 144A provides an exemption from the registration requirements of the 1933 Act for the resale of certain restricted securities to qualified institutional buyers.

One effect of Rule 144A is that certain restricted securities may now be liquid, though there is no assurance that a liquid market for Rule 144A securities will develop or be maintained. The liquidity of Rule 144A and other restricted securities is determined in accordance with the Funds' liquidity risk management program.

To the extent that liquid Rule 144A securities that a Fund holds become illiquid, due to the lack of sufficient qualified institutional buyers or market or other conditions, the percentage of that Fund's assets invested in illiquid assets would increase. The Adviser and the applicable Subadviser will monitor a Fund's investments in Rule 144A securities and will consider appropriate measures to enable the Fund to maintain sufficient liquidity for operating purposes and to meet redemption requests.

Derivatives

Although it is not a principal strategy, each Fund may, but is not required to, use various investment strategies described below to hedge market risks (such as broad or specific market movements and currency exchange rates), or to seek to increase the Fund's income or gain.

Each Fund may purchase and sell single stock, currency, or stock index futures contracts and enter into currency transactions; purchase and sell (or write) exchange-listed and over-the-counter ("OTC") put and call options on securities, currencies, futures contracts, indexes, and other financial instruments; enter into equity swaps and related transactions; and invest in indexed securities

------

and other similar transactions that may be developed in the future to the extent that the applicable Subadviser determines that they are consistent with the Fund's investment objective and policies and applicable regulatory requirements (collectively, these transactions are referred to as "Derivatives"). A Fund's currency transactions may take the form of currency forward contracts, currency futures contracts and options thereof, currency swaps, and options on currencies.

The Funds are operated by persons who have claimed an exclusion from registration as a "commodity pool operator" under the Commodity Exchange Act (the "CEA"), and, therefore, are not subject to registration or regulation as a commodity pool operator.

As a result, while the Funds continue to rely on this exemption, they will remain limited in their ability to trade instruments subject to the jurisdiction of the Commodity Futures Trading Commission ("CFTC"), including commodity futures (which include futures on broad-based securities indexes and interest rate futures), options on commodity futures and swaps. This limitation also applies with respect to any indirect exposure that a Fund may have to these instruments through investments in other funds. The Funds' investment adviser may have to rely on representations from the Fund's Subadviser about the amount (or maximum permitted amount) of investment exposure that the Fund has to instruments such as commodity futures, options on commodity futures and swaps.

Under this exemption, a Fund must satisfy one of the following two trading limitations at all times: (1) the aggregate initial margin and premiums required to establish the Fund's positions in commodity futures, options on commodity futures, swaps and other CFTC-regulated instruments may not exceed 5% of the liquidation value of the Fund's portfolio (after accounting for unrealized profits and unrealized losses on any such investments); or (2) the aggregate net notional value of such instruments, determined at the time the most recent position was established, may not exceed 100% of the liquidation value of the Fund's portfolio (after accounting for unrealized profits and unrealized losses on any such positions). A Fund would not be required to consider its exposure to such instruments if they were held for "bona fide hedging" purposes, as such term is defined in the rules of the CFTC. In addition to meeting one of the foregoing trading limitations, the fund may not market itself as a commodity pool or otherwise as a vehicle for trading in the markets for CFTC-regulated instruments.

Derivatives involve special risks, including possible default by the other party to the transaction, illiquidity, and to the extent the Subadviser's view as to certain market movements is incorrect, the risk that the use of Derivatives could result in significantly greater losses than if it had not been used. See "Risk Factors Associated with Derivatives" below. The degree of a Fund's use of Derivatives may be limited by certain provisions of the Internal Revenue Code of 1986, as amended (the "Code"). See "Effects of Certain Investments and Transactions" below.

Rule 18f-4 under the Investment Company Act permits each Fund to enter into Derivatives Transactions (as defined below) and certain other transactions notwithstanding the restrictions on the issuance of "senior securities" under Section 18 of the 1940 Act. Section 18 of the 1940 Act, among other things, prohibits open-end funds, including the fund, from issuing or selling any "senior security," other than borrowing from a bank (subject to a requirement to maintain 300% "asset coverage").

Under Rule 18f-4, "Derivatives Transactions" include the following: (1) any swap, security-based swap (including a contract for differences), futures contract, forward contract, option (excluding purchased options), any combination of the foregoing, or any similar instrument, under which a Fund is or may be required to make any payment or delivery of cash or other assets during the life of the instrument or at maturity or early termination, whether as margin or settlement payment or otherwise; (2) any short sale borrowing; (3) reverse repurchase agreements and similar financing transactions (e.g., recourse and non-recourse tender option bonds, and borrowed bonds), if the fund elects to treat these transactions as Derivatives Transactions under Rule 18f-4; and (4) when-issued or forward-settling securities (e.g., firm and standby commitments, including to-be-announced ("TBA") commitments, and dollar rolls) and non-standard settlement cycle securities, unless the fund intends to physically settle the transaction and the transaction will settle within 35 days of its trade date.

Unless a Fund is relying on the Limited Derivatives User Exception (as defined below), the Fund must comply with Rule 18f-4 with respect to its Derivatives Transactions. Rule 18f-4, among other things, requires the Fund to adopt and implement a comprehensive written derivatives risk management program ("DRMP") and comply with a relative or absolute limit on Fund leverage risk calculated based on value-at-risk ("VaR"). The DRMP is administered by a "derivatives risk manager," who is appointed by the Funds' Board, including a majority of Independent Trustees, and periodically reviews the DRMP and reports to the Board.

Rule 18f-4 provides an exception from the DRMP, VaR limit and certain other requirements if a Fund's "derivatives exposure" (as defined in Rule 18f-4) is limited to 10% of its net assets (as calculated in accordance with Rule 18f-4) and the fund adopts and implements written policies and procedures reasonably designed to manage its derivatives risks (the "Limited Derivatives User Exception").

Financial reform laws enacted after the financial crisis of 2008-2009, such as the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank"), are changing many aspects of financial regulation applicable to derivatives. For instance, Dodd-Frank

------

calls for the comprehensive regulation of swaps by the CFTC and the Securities and Exchange Commission (the "SEC"). The CFTC and the SEC are in the process of adopting and implementing new regulations applicable to these instruments, including rules with respect to recordkeeping, reporting, business conduct, relationship documentation, margin, clearing, and trade execution requirements. In addition, Dodd-Frank requires the registration of certain parties that deal or engage in substantial trading, execution or advisory activities in the markets for swaps. New regulations are changing the derivatives markets. The regulations may make using derivatives more costly, may limit their availability, or may otherwise adversely affect their value or performance. The extent and impact of these regulations are not yet fully known and may not be known for some time.

A Fund's use of derivatives may be affected by other applicable laws and regulations and may be subject to review by the SEC, the CFTC, exchange and market authorities and other regulators in the United States and abroad. A Fund's ability to use derivatives may be limited by tax considerations.

Certain derivatives transactions, including certain options, swaps, forward contracts, and certain options on foreign currencies, are entered into directly by the counterparties or through financial institutions acting as market makers (OTC derivatives), rather than being traded on exchanges or in markets registered with the CFTC or the SEC. Many of the protections afforded to exchange participants will not be available to participants in OTC derivatives transactions. For example, OTC derivatives transactions are not subject to the guarantee of an exchange, and only OTC derivatives that are either required to be cleared or submitted voluntarily for clearing to a clearinghouse will enjoy the protections that central clearing provides against default by the original counterparty to the trade. In an OTC derivatives transaction that is not cleared, a Fund bears the risk of default by its counterparty. In a cleared derivatives transaction, a Fund is instead exposed to the risk of default of the clearinghouse and, to the extent a Fund has posted any margin, the risk of default of the broker through which it has entered into the transaction. Information available on counterparty creditworthiness may be incomplete or outdated, thus reducing the ability to anticipate counterparty defaults.

Derivatives involve operational risk. There may be incomplete or erroneous documentation or inadequate collateral or margin, or transactions may fail to settle. For derivatives not guaranteed by an exchange or clearinghouse, a Fund may have only contractual remedies in the event of a counterparty default, and there may be delays, costs, disagreements as to the meaning of contractual terms and litigation in enforcing those remedies.

Currency Transactions

Each Fund may engage in currency transactions with counterparties to hedge the value of portfolio securities denominated in particular currencies against fluctuations in relative value or to generate income or gain. Currency transactions include currency forward contracts, exchange-listed currency futures contracts and options thereon, exchange-listed and OTC options on currencies, and currency swaps. A currency forward contract involves a privately negotiated obligation to purchase or sell (with delivery generally required) a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. A currency swap is an agreement to exchange cash flows based on the notional difference between two or more currencies and operates similarly to an equity swap, which is described below under "Equity Swaps and Related Transactions." The Funds may enter into currency transactions only with counterparties that the applicable Subadviser deems to be creditworthy.

Each Fund may enter into currency forward contracts when the Subadviser believes that the currency of a particular country may suffer a substantial decline against the U.S. dollar. In those circumstances, each Fund may enter into a currency forward contract to sell, for a fixed amount of U.S. dollars, the amount of that currency approximating the value of some or all of the Fund's portfolio securities denominated in such currency. Currency forward contracts may limit potential gain from a positive change in the relationship between the U.S. dollar and foreign currencies.

Transaction hedging is entering into a currency transaction with respect to specific assets or liabilities of a Fund, which will generally arise in connection with the purchase or sale of a Fund's portfolio securities or the receipt of income from them. Position hedging is entering into a currency transaction with respect to portfolio securities positions denominated or generally quoted in that currency. No Fund will enter into a transaction to hedge currency exposure to an extent greater, after netting all transactions intended wholly or partially to offset other transactions, than the aggregate market value (at the time of entering into the transaction) of the securities held by the Fund that are denominated or generally quoted in or currently convertible into the currency, other than with respect to proxy hedging as described below.

Each Fund may cross-hedge currencies by entering into transactions to purchase or sell one or more currencies that are expected to increase or decline in value relative to other currencies to which the Fund has or in which the Fund expects to have exposure. To reduce the effect of currency fluctuations on the value of existing or anticipated holdings of its securities, each Fund may also engage in proxy hedging. Proxy hedging is often used when the currency to which the Fund's holdings are exposed is difficult to hedge

------

generally or difficult to hedge against the dollar. Proxy hedging entails entering into a forward contract to sell a currency, the changes in the value of which are generally considered to be linked to a currency or currencies in which some or all of the Fund's securities are

or are expected to be denominated, and to buy dollars. The amount of the contract would not exceed the market value of the Fund's securities denominated in linked currencies.

Currency transactions are subject to risks different from other portfolio transactions, as discussed below under "Risk Factors Associated with Derivatives."

Futures Contracts

Each Fund may trade futures contracts: (1) on domestic and foreign exchanges on currencies; and (2) on domestic and foreign exchanges on single stocks and stock indexes. Futures contracts are generally bought and sold on the commodities exchanges on which they are listed with payment of initial and variation margin as described below. The sale of a futures contract creates a firm obligation by the Fund, as seller, to deliver to the buyer the specific type of financial instrument called for in the contract at a specific future time for a specified price (or with respect to certain instruments, the net cash amount). A Fund's use of financial futures contracts and options thereon will in all cases be consistent with applicable regulatory requirements and in particular the rules and regulations of the Commodity Futures Trading Commission (CFTC). Maintaining a futures contract or selling an option on a futures contract will typically require a Fund to deposit with a financial intermediary, as security for its obligations, an amount of cash or other specified assets ("initial margin") that initially is from 1% to 10% of the face amount of the contract (but may be higher in some circumstances particularly in the case of single stock futures). Additional cash or assets ("variation margin") may be required to be deposited thereafter daily as the mark-to-market value of the futures contract fluctuates. The value of all futures contracts sold by a Fund (adjusted for the historical volatility relationship between the Fund and the contracts) will not exceed the total market value of the Fund's securities. In addition, the value of the Fund's long futures and options positions (futures contracts on single stocks, stock indexes, or foreign currencies and call options on such futures contracts) will not exceed the sum of: (a) liquid assets segregated for this purpose; (b) cash proceeds on existing investments due within 30 days; and (c) accrued profits on the particular futures or options positions.

Single Stock Futures

Recent legislation permits the trading on U.S. exchanges of standardized futures contracts on individual equity securities, such as common stocks, exchange-traded funds, and American Depository Receipts, as well as narrow-based securities indexes, generally called security futures contracts or "SFCs." As with other futures contracts, an SFC involves an agreement to purchase or sell in the future a specific quantity of shares of a security or the component securities of the index. The initial margin requirements (typically 20%) are generally higher than with other futures contracts. Trading SFCs involves many of the same risks as trading other futures contracts, including the risks involved with leverage, and losses are potentially unlimited. Under certain market conditions, for example if trading is halted due to unusual trading activity in either the SFC or the underlying security due to recent new events involving the issuer of the security, it may be difficult or impossible for a Fund to liquidate its position or manage risk by entering into an offsetting position. In addition, the prices of the SFCs may not correlate as anticipated with the prices of the underlying security. And unlike options on securities in which a Fund may invest, where the Fund has a position in a SFC, the Fund has both the right and the obligation to buy or sell the security at a future date, or otherwise offset its position.

Options

In order to hedge against adverse market shifts or to increase income or gain, each Fund may purchase put and call options or write "covered" put and call options on futures contracts on stock indexes, and currencies. In addition, in order to hedge against adverse market shifts or to increase its income, each Fund may purchase put and call options and write "covered" put and call options on securities, indexes, currencies, and other financial instruments. Each Fund may utilize options on currencies in order to hedge against currency exchange rate risks. A call option is "covered" if, so long as the Fund is obligated as the writer of the option, it will: (i) own the underlying investment subject to the option, (ii) own securities convertible or exchangeable without the payment of any consideration into the securities subject to the option, (iii) own a call option on the relevant security or currency with an exercise price no higher than the exercise price on the call option written, or (iv) deposit with its custodian in a segregated account liquid assets having a value equal to the excess of the value of the security or index that is the subject of the call over the exercise price. A put option is "covered" if, to support its obligation to purchase the underlying investment when a put option that a Fund writes is exercised, the Fund will either (a) deposit with its custodian in a segregated account liquid assets having a value at least equal to the exercise price of the underlying investment or (b) continue to own an equivalent number of puts of the same "series" (that is, puts on the same underlying investment having the same exercise prices and expiration dates as those written by the Fund), or an equivalent number of puts of the same "class" (that is, puts on the same underlying investment) with exercise prices greater than those that it has written (or, if the exercise prices of the puts it holds are less than the exercise prices of those it has written, it will deposit the difference with its custodian in a segregated account).

------

Parties to options transactions must make certain payments and/or set aside certain amounts of assets in connection with each transaction, as described below.

In all cases, by writing a call, a Fund will limit its opportunity to profit from an increase in the market value of the underlying investment above the exercise price of the option for as long as the Fund's obligation as writer of the option continues. By writing a put, a Fund bears the risk of a decrease in the market value of the underlying investment below the exercise price of the option for as long as the Fund's obligation as writer of the option continues. Upon the exercise of a put option written by a Fund, the Fund may suffer an economic loss equal to the difference between the price at which the Fund is required to purchase the underlying investment and its market value at the time of the option exercise, less the premium received for writing the option. Upon the exercise of a call option written by a Fund, the Fund may suffer an economic loss equal to an amount not less than the excess of the investment's market value at the time of the option exercise over the Fund's acquisition cost of the investment, less the sum of the premium received for writing the option and the positive difference, if any, between the call price paid to the Fund and the Fund's acquisition cost of the investment.

In all cases, in purchasing a put option, each Fund will seek to benefit from, or protect against, a decline in the market price of the underlying investment, while in purchasing a call option, each Fund will seek to benefit from an increase in the market price of the underlying investment. If an option purchased is not sold or exercised when it has remaining value, or if the market price of the underlying investment remains equal to or greater than the exercise price, in the case of a put, or remains equal to or below the exercise price, in the case of a call, during the life of the option, the Fund will lose its investment in the option. For the purchase of an option to be profitable, the market price of the underlying investment must decline sufficiently below the exercise price, in the case of a put, and must increase sufficiently above the exercise price, in the case of a call, to cover the premium and transaction costs.

Each Fund may choose to exercise the options it holds, permit them to expire, or terminate them prior to their expiration by entering into closing transactions. Each Fund may enter into a closing purchase transaction in which the Fund purchases an option having the same terms as the option it had written or a closing sale transaction in which the Fund sells an option having the same terms as the option it had purchased. A covered option writer unable to effect a closing purchase transaction will not be able to sell the underlying security until the option expires or the underlying security is delivered upon exercise, with the result that the writer will be subject to the risk of market decline in the underlying security during such period. Should a Fund choose to exercise an option, the Fund will receive, in the case of a call option, or sell in the case of a put option, the securities, commodities, or commodity futures contracts underlying the exercised option.

Exchange-listed options on securities and currencies, with certain exceptions, generally settle by physical delivery of the underlying security or currency, although in the future, cash settlement may become available. Frequently, rather than taking or making delivery of the underlying instrument through the process of exercising the option, listed options are closed by entering into offsetting purchase or sale transactions that do not result in ownership of the new option. Index options are cash settled for the net amount, if any, by which the option is "in-the-money" (that is, the amount by which the value of the underlying instrument exceeds, in the case of a call option, or is less than, in the case of a put option, the exercise price of the option) at the time the option is exercised.

Put options and call options typically have similar structural characteristics and operational mechanics regardless of the underlying instrument on which they are purchased or sold. Thus, the following general discussion relates to each of the particular types of options discussed in greater detail below.

A put option gives the purchaser of the option, upon payment of a premium, the right to sell, and the writer of the obligation to buy, the underlying security, index, currency, or other instrument at the exercise price. Each Fund's purchase of a put option on a security, for example, might be designed to protect its holdings in the underlying instrument (or, in some cases, a similar instrument) against a substantial decline in the market value of such instrument by giving the Fund the right to sell the instrument at the option exercise price. A call option, upon payment of a premium, gives the purchaser of the option the right to buy, and the seller the obligation to sell, the underlying instrument at the exercise price. A Fund's purchase of a call option on a security, financial futures contract, index, currency, or other instrument might be intended to protect the Fund against an increase in the price of the underlying instrument that it intends to purchase in the future by fixing the price at which it may purchase the instrument. An "American" style put or call option may be exercised at any time during the option period, whereas a "European" style put or call option may be exercised only upon expiration or during a fixed period prior to expiration. Exchange-listed options are issued by a regulated intermediary such as the Options Clearing Corporation ("OCC"), which guarantees the performance of the obligations of the parties to the options. The discussion below uses the OCC as an example, but may also be applicable to other similar financial intermediaries.

OCC-issued and exchange-listed options, including options on securities, currencies, and financial instruments, generally settle for cash, although physical settlement may be required in some cases. Index options are cash settled for the net amount, if any, by which the option is "in-the-money" (that is, the amount by which the value of the underlying instrument exceeds, in the case of a call option, or is less than, in the case of a put option, the exercise price of the option) at the time the option is exercised. Frequently, rather than

------

taking or making delivery of the underlying instrument through the process of exercising the option, listed options are closed by entering into offsetting purchase or sale transactions that do not result in ownership of the new option.

A Fund's ability to close out its position as a purchaser or seller of an OCC-issued or exchange-listed put or call option is dependent, in part, upon the liquidity of the particular option market. Among the possible reasons for the absence of a liquid option market on an exchange are: (1) insufficient trading interest in certain options, (2) restrictions on transactions imposed by an exchange, (3) trading halts, suspensions, or other restrictions imposed with respect to particular classes or series of options or underlying securities, including reaching daily price limits, (4) interruption of the normal operations of the OCC or an exchange, (5) inadequacy of the facilities of an exchange or the OCC to handle current trading volume, or (6) a decision by one or more exchanges to discontinue the trading of options (or a particular class or series of options), in which event the relevant market for that option on that exchange would cease to exist, although any such outstanding options on that exchange would continue to be exercisable in accordance with their terms.

The hours of trading for listed options may not coincide with the hours during which the underlying financial instruments are traded. To the extent that the option markets close before the markets for the underlying financial instruments, significant price and rate movements can take place in the underlying markets that would not be reflected in the corresponding option markets.

OTC options are purchased from or sold to securities dealers, financial institutions, or other parties (collectively referred to as "Counterparties" and individually referred to as a "Counterparty") through a direct bilateral agreement with the Counterparty. In contrast to exchange-listed options, which generally have standardized terms and performance mechanics, all of the terms of an OTC option, including such terms as method of settlement, term, exercise price, premium, guaranties, and security, are determined by negotiation of the parties. It is anticipated that each Fund will generally only enter into OTC options that have cash settlement provisions, although it will not be required to do so.

Unless the parties provide for it, no central clearing or guaranty function is involved in an OTC option. As a result, if a Counterparty fails to make or take delivery of the security, currency, or other instrument underlying an OTC option it has entered into with a Fund or fails to make a cash settlement payment due in accordance with the terms of that option, the Fund will lose any premium it paid for the option as well as any anticipated benefit of the transaction. Thus, the Subadviser must assess the creditworthiness of each such Counterparty or any guarantor or credit enhancement of the counterparty's credit to determine the likelihood that the terms of the OTC option will be met. A Fund will enter into OTC option transactions only with U.S. government securities dealers recognized by the Federal Reserve Bank of New York as "primary dealers," or broker-dealers, domestic or foreign banks, or other financial institutions that the Subadviser deems to be creditworthy. In the absence of a change in the current position of the staff of the SEC, OTC options purchased by a Fund and the amount of the Fund's obligation pursuant to an OTC option sold by the Fund (the cost of the sell-back plus the in-the-money amount, if any) or the value of the assets held to cover such options will be deemed illiquid.

If a Fund sells a call option, the premium that it receives may serve as a partial hedge, to the extent of the option premium, against a decrease in the value of the underlying securities or instruments held by the Fund or will increase the Fund's income. Similarly, the sale of put options can also provide gains for a Fund.

Each Fund may purchase and sell call options on securities that are traded on U.S. and foreign securities exchanges and in the OTC markets, and on securities indexes, currencies, and futures contracts. All calls sold by a Fund must be "covered" (that is, the Fund must own the securities or futures contract subject to the call). Even though a Fund will receive the option premium to help protect it against loss, a call sold by the Fund will expose the Fund during the term of the option to possible loss of opportunity to realize appreciation in the market price of the underlying security or instrument and may require the Fund to hold a security or instrument that it might otherwise have sold.

Each Fund reserves the right to purchase or sell options on instruments and indexes that may be developed in the future to the extent consistent with applicable law, the Fund's investment objective, and the restrictions set forth herein.

Each Fund may purchase and sell put options on securities (whether or not it holds the securities in its portfolio) and on securities indexes, currencies, and futures contracts. In selling put options, a Fund faces the risk that it may be required to buy the underlying security at a disadvantageous price above the market price.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) OPTIONS ON STOCKS AND STOCK INDEXES. Each Fund may purchase put and call options and write covered put and call options on stocks and stock indexes listed on domestic and foreign securities exchanges in order to hedge against movements in the equity markets or to increase income or gain to the Fund. In addition, each Fund may purchase options on stocks that are traded over-the-counter. Options on stock indexes are similar to options on specific securities. However, because options on stock indexes do not involve the delivery of an underlying security, the option represents the holder's right to obtain from the writer cash in an amount equal to a fixed multiple of the amount by which the exercise price exceeds (in the case of a

------

put) or is less than (in the case of a call) the closing value of the underlying stock index on the exercise date. Options traded may include the Standard & Poor's 100 Index of Composite Stocks, Standard & Poor's 500 Index of Composite Stocks (the "S&P 500 Index"), the New York Stock Exchange ("NYSE") Composite Index, the American Stock Exchange ("AMEX") Market Value Index, the National Over-the-Counter Index, and other standard broadly based stock market indexes. Options are also traded in certain industry or market segment indexes such as the Computer Technology Index and the Transportation Index. Stock index options are subject to position and exercise limits and other regulations imposed by the exchange on which they are traded.

If the Subadviser expects general stock market prices to rise, a Fund might purchase a call option on a stock index or a futures contract on that index as a hedge against an increase in prices of particular equity securities it wants ultimately to buy. If the stock index does rise, the price of the particular equity securities intended to be purchased may also increase, but that increase would be offset in part by the increase in the value of the Fund's index option or futures contract resulting from the increase in the index. If, on the other hand, the Subadviser expects general stock market prices to decline, it might purchase a put option or sell a futures contract on the index. If that index does decline, the value of some or all of the equity securities in the Fund's portfolio may also be expected to decline, but that decrease would be offset in part by the increase in the value of the Fund's position in such put option or futures contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) OPTIONS ON CURRENCIES. Each Fund may invest in options on currencies traded on domestic and foreign securities exchanges in order to hedge against currency exchange rate risks or to increase income or gain, as described above in "Currency Transactions."

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) OPTIONS ON FUTURES CONTRACTS. Each Fund may purchase put and call options and write covered put and call options on futures contracts on stock indexes, and currencies traded on domestic and, to the extent permitted by the CFTC, foreign exchanges, in order to hedge all or a portion of its investments or to increase income or gain and may enter into closing transactions in order to terminate existing positions. There is no guarantee that such closing transactions can be effected. An option on a stock index futures contract or currency futures contract, as contrasted with the direct investment in such a contract, gives the purchaser the right, in return for the premium paid, to assume a position in the underlying contract at a specified exercise price at any time on or before the expiration date of the option. Upon exercise of an option, the delivery of the futures position by the writer of the option to the holder of the option will be accompanied by delivery of the accumulated balance in the writer's futures margin account. The potential loss related to the purchase of an option on a futures contract is limited to the premium paid for the option (plus transaction costs). While the price of the option is fixed at the point of sale, the value of the option does change daily and the change would be reflected in the net asset value of the Fund.

The purchase of an option on a financial futures contract involves payment of a premium for the option without any further obligation on the part of a Fund. If a Fund exercises an option on a futures contract it will be obligated to post initial margin (and potentially variation margin) for the resulting futures position just as it would for any futures position. Futures contracts and options thereon are generally settled by entering into an offsetting transaction, but no assurance can be given that a position can be offset prior to settlement or that delivery will occur.

COMBINED TRANSACTIONS

Each Fund may enter into multiple transactions, including multiple options transactions, multiple futures transactions, multiple currency transactions (including forward currency contracts), and any combination of futures, options, and currency transactions, instead of a single Derivative, as part of a single or combined strategy when, in the judgment of the Subadviser, it is in the best interests of a Fund to do so. A combined transaction will usually contain elements of risk that are present in each of its component transactions. Although combined transactions will normally be entered into by the Fund based on the Subadviser's judgment that the combined strategies will reduce risk or otherwise more effectively achieve the desired portfolio management goal, it is possible that the combination will instead increase the risks or hinder achievement of the Fund's objective.

RISK FACTORS ASSOCIATED WITH DERIVATIVES

Derivatives have special risks associated with them, including possible default by the counterparty to the transaction, illiquidity, and, to the extent the Subadviser's view as to certain market movements is incorrect, the risk that the use of the Derivatives could result in losses greater than if they had not been used. Use of put and call options could result in losses to a Fund, force the sale or purchase of portfolio securities at inopportune times or for prices higher than (in the case of put options) or lower than (in the case of call options) current market values, or cause the Fund to hold a security it might otherwise sell.

The absence of a central exchange or market for swap transactions has led, in some instances, to difficulties in trading and valuation, especially in the event of market disruptions. New regulations require many kinds of swaps to be executed through a regulated exchange or market facility and cleared through a regulated clearinghouse. The establishment of a centralized exchange or market for

------

swap transactions may disrupt or limit the swap market and may not result in swaps being easier to trade or value. Market-traded swaps may become more standardized, and a Fund may not be able to enter into swaps that meet its investment needs. A Fund also may not be able to find a clearinghouse willing to accept the swaps for clearing. The new regulations may make using swaps more costly, may limit their availability, or may otherwise adversely affect their value or performance. A Fund will be required to trade many swaps through a broker who is a member of the clearinghouse. The broker may require a Fund to post margin to the broker as a down payment on the Fund's obligations and may change the amount of margin required from time to time. A Fund may not be able to recover margin amounts if the broker has financial difficulties. Also, the broker may require a Fund to terminate a derivatives position under certain circumstances. This may cause a Fund to lose money. The clearinghouse will be a Fund's counterparty for the derivatives trades. A Fund will take the risk that the counterparty defaults. A Fund also may be exposed to additional risks as a result of the new regulations. The extent and impact of the new regulations are not yet fully known and may not be for some time.

The use of futures and options transactions entails certain special risks. In particular, the variable degree of correlation between price movements of futures contracts and price movements in the related securities position of a Fund could create the possibility that losses on the hedging instrument are greater than gains in the value of the Fund's position. In addition, futures and options markets could be illiquid in some circumstances and certain OTC options could have no markets. As a result, in certain markets, a Fund might not be able to close out a transaction without incurring substantial losses. Although a Fund's use of futures and options transactions for hedging should tend to minimize the risk of loss due to a decline in the value of the hedged position, at the same time it will tend to limit any potential gain to the Fund that might result from an increase in value of the position. There is also the risk of loss by a Fund of margin deposits in the event of bankruptcy of a broker with whom the Fund has an open position in a futures contract or option thereon. Finally, the daily variation margin requirements for futures contracts create a greater ongoing potential financial risk than would purchases of options, in which case the exposure is limited to the cost of the initial premium. However, because option premiums paid by a Fund are small in relation to the market value of the investments underlying the options, buying options can result in large amounts of leverage. The leverage offered by trading in options could cause the Fund's net asset value to be subject to more frequent and wider fluctuation than would be the case if the Fund did not invest in options.

As is the case with futures and options strategies, the effective use of swaps and related transactions by a Fund may depend, among other things, on the Fund's ability to terminate the transactions at times when the Subadviser deems it desirable to do so. To the extent a Fund does not, or cannot, terminate such a transaction in a timely manner, the Fund may suffer a loss in excess of any amounts that it may have received, or expected to receive, as a result of entering into the transaction.

Recent legislation will require most swaps to be executed through a centralized exchange or regulated facility and be cleared through a regulated clearinghouse. The swap market could be disrupted or limited as a result of this legislation, which could adversely affect a Fund. Moreover, the establishment of a centralized exchange or market for swap transactions may not result in swaps being easier to trade or value.

Currency hedging involves some of the same risks and considerations as other transactions with similar instruments. Currency transactions can result in losses to a Fund if the currency being hedged fluctuates in value to a degree or in a direction that is not anticipated. Further, the risk exists that the perceived linkage between various currencies may not be present or may not be present during the particular time that a Fund is engaging in proxy hedging. Currency transactions are also subject to risks different from those of other portfolio transactions. Because currency control is of great importance to the issuing governments and influences economic planning and policy, purchases and sales of currency and related instruments can be adversely affected by government exchange controls, limitations or restrictions on repatriation of currency, and manipulations or exchange restrictions imposed by governments. These forms of governmental actions can result in losses to a Fund if it is unable to deliver or receive currency or monies in settlement of obligations and could also cause hedges it has entered into to be rendered useless, resulting in full currency exposure as well as incurring transaction costs. Buyers and sellers of currency futures contracts are subject to the same risks that apply to the use of futures contracts generally. Further, settlement of a currency futures contract for the purchase of most currencies must occur at a bank based in the issuing nation. Trading options on currency futures contracts is relatively new, and the ability to establish and close out positions on these options is subject to the maintenance of a liquid market that may not always be available. Currency exchange rates may fluctuate based on factors extrinsic to that country's economy.

Because the amount of interest and/or principal payments that the issuer of indexed securities is obligated to make is linked to the prices of other securities, securities indexes, currencies, or other financial indicators, such payments may be significantly greater or less than payment obligations in respect of other types of debt securities. As a result, an investment in indexed securities may be considered speculative. Moreover, the performance of indexed securities depends to a great extent on the performance of and may be more volatile than the security, currency, or other instrument to which they are indexed, and may also be influenced by interest rate changes in the United States and abroad. At the same time, indexed securities are subject to the credit risks associated with the issuer of the security, and their values may decline substantially if the issuer's creditworthiness deteriorates.

Losses resulting from the use of Derivatives will reduce a Fund's net asset value, and possibly income, and the losses can be greater than if Derivatives had not been used.

------

Reverse Repurchase Agreements

Each of the Funds may enter into reverse repurchase agreements. A reverse repurchase agreement involves the sale of portfolio securities by a Fund to a broker-dealer or other financial institution, with an agreement by the Fund to repurchase the securities at an agreed-upon price, date, and interest payment, and are considered borrowings by the Fund and are subject to any borrowing limitations set forth under "Investment Restrictions" in this Statement of Additional Information. A Fund may have an opportunity to earn a greater rate of interest on the investment of the cash proceeds of the sale. However, opportunities to realize earnings from the use of the proceeds equal to or greater than the interest required to be paid by the Fund under the reverse repurchase agreement may not always be available. The use of reverse repurchase agreements involves the speculative factor known as "leverage" and may exaggerate any interim increase or decrease in the value of the Fund's assets. If a Fund enters into a reverse repurchase agreement, the Fund will maintain assets with its custodian having a value equal to or greater than the value of its commitments under the agreement. Reverse repurchase agreements are considered to be a form of borrowing. Reverse repurchase agreements involve the risk that the market value of the securities sold by the Fund may decline below the repurchase price of those securities, that the assets purchased with the proceeds of the agreement decline in value, or that the buyer under a reverse repurchase agreement files for bankruptcy or becomes insolvent. A Fund may enter into reverse repurchase agreements and similar financing transactions (e.g., recourse and non-recourse tender option bonds, borrowed bonds) notwithstanding the limitation on the issuance of senior securities in Section 18 of the 1940 Act, provided that the Fund complies with the asset coverage requirements of Section 18 and combines the aggregate amount of indebtedness associated with all reverse repurchase agreements or similar financing transactions with the aggregate amount of any other senior securities representing indebtedness when calculating the asset coverage ratio, or treats all reverse repurchase agreements or similar financing transactions as Derivatives Transactions for all purposes under Rule 18f-4 under the 1940 Act. The DRMP currently provides that reverse repurchase agreements will not be treated as derivatives for purposes of the DRMP and will be subject to the asset coverage requirements of Section 18. See "Derivatives."

Repurchase Agreements

Each Fund may invest in repurchase agreements that are fully collateralized by securities in which the Fund may otherwise invest. A repurchase agreement involves the purchase of a security that must later be sold back to the seller (which is usually a member bank of the U.S. Federal Reserve System or a member firm of the NYSE or a subsidiary thereof) at an agreed time (usually not more than seven days from the date of purchase) and price. The resale price reflects the purchase price plus an agreed-upon market rate of interest. Under the Investment Company Act of 1940, as amended (the "1940 Act"), repurchase agreements may be considered to be loans by the buyer. If the seller defaults, the underlying security constitutes collateral for the seller's obligation to pay, although a Fund may incur certain costs in liquidating this collateral and in certain cases may not be permitted to liquidate this collateral. In the event of the bankruptcy of the other party to a repurchase agreement, a Fund could experience delays in recovering either the securities or cash. To the extent that, in the meantime, the value of the securities purchased has decreased, a Fund could experience a loss.

Non-U.S. Investments

Each of the Funds may invest in securities of foreign issuers. Investments in foreign securities involve risks relating to political, social, and economic developments abroad, as well as risks resulting from the differences between the regulations to which U.S. and foreign issuers and markets are subject. In the event unforeseen exchange controls or foreign withholding taxes are imposed with respect to any Fund's investments, the effect may be to reduce the income received by the Fund on such investments.

A Fund also may hold securities of non-U.S. issuers in the form of American Depositary Receipts ("ADRs"). Generally, ADRs in registered form are designed for use in U.S. securities markets. ADRs are denominated in U.S. dollars and represent an interest in the right to receive securities of non-U.S. issuers deposited in a U.S. bank or correspondent bank. ADRs do not eliminate all the risk inherent in investing in the securities of non-U.S. issuers. However, by investing in ADRs rather than directly in equity securities of non-U.S. issuers, the Fund will avoid currency risks during the settlement period for either purchases or sales. For purposes of the Fund's investment policies, investments in ADRs and similar instruments will be deemed to be investments in the underlying equity securities of non-U.S. issuers. The Equity Fund may acquire depositary receipts from banks that do not have a contractual relationship with the issuer of the security underlying the depositary receipt to issue and secure such depositary receipt. To the extent the Fund invests in such unsponsored depositary receipts there may be an increased possibility that the Fund may not become aware of events affecting the underlying security and thus the value of the related depositary receipt. In addition, certain benefits (i.e., rights offerings) that may be associated with the security underlying the depositary receipt may not inure to the benefit of the holder of such depositary receipt.

------

Loans of Securities

Consistent with applicable regulatory policies, including those of the Board of Governors of the Federal Reserve System and the SEC, each Fund may make loans of its securities to brokers, dealers, or other financial institutions, provided that (a) the loan is secured continuously by collateral, consisting of securities, cash, or cash equivalents, which is marked to market daily to ensure that each loan is fully collateralized, at all times, (b) the applicable Fund may at any time call the loan and obtain the return of the securities loaned within three business days, (c) the applicable Fund will receive any interest or dividends paid on the securities loaned, and (d) the aggregate market value of securities loaned will not at any time exceed 30% of the total assets of the applicable Fund. Each Fund reserves the right to recall loaned securities so that it may exercise voting rights on loaned securities according to the Fund's Proxy Voting Policy and Procedures.

A Fund will earn income for lending its securities either in the form of fees received from the borrower of the securities or in connection with the investment of cash collateral in short-term money market instruments. A Fund will continue to have market risk and other risks associated with owning the securities on loan, as well as the risks associated with the investment of the cash collateral received in connection with the loan. Loans of securities involve a risk that the borrower may fail to return the securities or may fail to provide additional collateral, and the risk that the Fund is unable to recall a security in time to exercise voting rights or sell the security.

Where the collateral received is cash, the cash will be invested and the Fund will be entitled to a share of the income earned on the investment, but will also be subject to investment risk on the collateral and will bear the entire amount of any loss in connection with investment of such collateral.

In connection with lending securities, a Fund may pay reasonable finders, administrative, and custodial fees. No such fees will be paid to any person if it or any of its affiliates is affiliated with the applicable Fund, Domini, or the applicable Subadviser.

Fees and expenses paid by a Fund in connection with loans of securities are not reflected in the fee table or expense example in the Fund's prospectus. If the income earned on the investment of the cash collateral is insufficient to pay these amounts or if the value of the securities purchased with such cash collateral declines, a Fund may take a loss on the loan. Where a Fund receives securities as collateral, the Fund will earn no income on the collateral, but will earn a fee from the borrower.

The Funds do not currently engage in securities lending.

Options on Securities and Indexes

A Fund may enter into certain transactions in options involving securities in which the Fund may otherwise invest and options in indexes based on securities in which the Fund may otherwise invest. Each Fund may enter into such options transactions for the purpose of hedging against possible increases in the value of securities that are expected to be purchased by the respective Fund or possible declines in the value of securities that are expected to be sold by that Fund.

The purchase of an option on a security provides the holder with the right, but not the obligation, to purchase the underlying security, in the case of a call option, or to sell the underlying security, in the case of a put option, for a fixed price at any time up to a stated expiration date. The holder is required to pay a nonrefundable premium, which represents the purchase price of the option. The holder of an option can lose the entire amount of the premium, plus related transaction costs, but not more. Upon exercise of the option, the holder is required to pay the purchase price of the underlying security in the case of a call option, or deliver the security in return for the purchase price in the case of a put option.

Prior to exercise or expiration, an option position may be terminated only by entering into a closing purchase or sale transaction. This requires a secondary market on the exchange on which the position was originally established. While a Fund would establish an option position only if there appears to be a liquid secondary market, therefore, there can be no assurance that such a market will exist for any particular option contract at any specific time. In that event, it may not be possible to close out a position held by a Fund, and that Fund could be required to purchase or sell the instrument underlying an option, make or receive a cash settlement, or meet ongoing variation margin requirements. The inability to close out option positions also could have an adverse impact on a Fund's ability effectively to hedge its portfolio.

------

Options on securities indexes are similar to options on securities, except that the exercise of securities index options requires cash payments and does not involve the actual purchase or sale of securities. In addition, securities index options are designed to reflect price fluctuations in a group of securities or segments of the securities market rather than price fluctuations in a single security.

Transactions by a Fund in options on securities will be subject to limitations established by each of the exchanges, boards of trade, or other trading facilities governing the maximum number of options in each class that may be written or purchased by a single investor or group of investors acting in concert. Thus, the number of options that a Fund may write or purchase may be affected by options written or purchased by other investment advisory clients of Domini or a Subadviser. An exchange, board of trade, or other trading facility may order the liquidations of positions found to be in excess of these limits, and it may impose certain other sanctions.

Short Sales

Short sales of securities are transactions in which a Fund sells a security it does not own in anticipation of a decline in the market value of the security. To complete such a transaction, the Fund must borrow the security to make delivery to the buyer. The Fund then is obligated to replace the security borrowed by purchasing it at the market price at or prior to the time of replacement. The price at such time may be more or less than the price at which the security was sold by the Fund. Until the security is replaced, the Fund is required to repay the lender any dividends or interest paid during the period of the loan. To borrow the security, the Fund also may be required to pay a premium, which would increase the cost of the security sold short. A portion of the net proceeds of the short sale may be retained by the broker (or by the Fund's custodian in a special custody account) to the extent necessary to meet margin sales. The Fund will incur a loss as a result of the short sale if the price of the security increases between the date of the short sale and the date on which the Fund replaces the borrowed security. The amount of any gain will be decreased, and the amount of any loss increased, by the amount of premiums, dividends, interest, or expenses the Fund may be required to pay in connection with a short sale. An increase in the value of a security sold short by the Fund over the price which it was sold short will result in a loss to the Fund, and there can be no assurance that the Fund will be able to close out the position at any particular time or at an acceptable price. Where short sales are not against the box, losses may be unlimited.

Although they have no current intention to do so, each Fund may enter into a short sale if it is "against the box." If a Fund enters into a short sale against the box, it will be required to set aside securities equivalent in kind and amount to the securities sold short (or securities convertible or exchangeable into such securities at no additional cost to the Fund) and will be required to hold such securities while the short sale is outstanding. A Fund will incur transaction costs, including interest expense, in connection with opening, maintaining, and closing short sales against the box. If a Fund engages in any short sales against the box, it will incur the risk that the security sold short will appreciate in value after the sale, with the result that the Fund will lose the benefit of any such appreciation. A Fund may make short sales both as a form of hedging to offset potential declines in long positions in similar securities and in order to maintain portfolio flexibility. Short sales may be subject to special tax rules, one of the effects of which may be to accelerate income to a Fund.

A Fund must comply with Rule 18f-4 under the Investment Company Act with respect to its short positions against the box, which are considered Derivatives Transactions under the Rule. See "Derivatives" above.

Cash Reserves

Each Fund may invest cash reserves in short-term debt securities (i.e., securities having a remaining maturity of one year or less) issued by agencies or instrumentalities of the United States government, bankers' acceptances, commercial paper, certificates of deposit, bank deposits, or repurchase agreements, provided that the issuer satisfies certain social criteria. Some of the investments will be with community development banks and financial institutions and may not be insured by the FDIC. The Funds do not currently intend to invest in direct obligations of the United States government. Short-term debt instruments purchased by a Fund will be rated at least P-1 by Moody's, A-1+ or A-1 by S&P, or F1+ or F1 by Fitch, or if not rated, determined to be of comparable quality by the Board of Trustees. The Equity Fund's policy is to hold its assets in such securities in order to meet anticipated redemption requests.

------

#### PORTFOLIO TURNOVER
A portfolio turnover rate is, in summary, the percentage computed by dividing the lesser of a Fund's purchases or sales of securities (excluding short-term securities) by the average market value of the Fund. The below sets forth the Fund's portfolio turnover rates for the last two fiscal years. A rate of 100% is equivalent to the Fund buying and selling all of the securities in its portfolio once over the course of a year. High portfolio turnover rate may affect the amount, timing and character of distributions. Higher portfolio turnover also results in higher transaction costs. Portfolio turnover rate may vary greatly from year to year as well as within a particular year.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Fund** | **Portfolio Turnover** <br> **Rate** <br> **(FYE 7/31/2025)**  | **Portfolio Turnover** <br> **Rate** <br> **(FYE 7/31/2024)**  |
| &nbsp;&nbsp;&nbsp; Equity Fund | 21% | 9% |
| &nbsp;&nbsp;&nbsp; Sustainable Solutions Fund | 64% | 45% |
| &nbsp;&nbsp;&nbsp; International Equity Fund | 80% | 89% |
| &nbsp;&nbsp;&nbsp; Bond Fund | 194%\*\* | 258%\*\* |

---

\*\* The Bond Fund's portfolio turnover rate for the fiscal years ended July 31, 2025, and 2024 was impacted by investments in certain securities subject to periodic roll activity.

#### PROXY VOTING POLICIES
Each Fund has adopted proxy voting policies and procedures that seek to ensure that all proxies for securities held by that Fund are cast in the best interests of the Fund's shareholders. Because each Fund has a fiduciary duty to vote all shares in the best interests of its shareholders, each Fund votes proxies after considering its shareholders' financial interests and social objectives. The proxy voting policies and procedures are designed to ensure that all proxies are voted in the best interests of Fund shareholders by isolating the proxy voting function from any potential conflicts of interest. In most instances, votes are cast according to predetermined policies, and potential conflicts of interest cannot influence the outcome of voting decisions. There are, however, several voting guidelines that require a case-by-case determination, and other instances where votes may vary from predetermined policies. Certain procedures have been adopted to ensure that conflicts of interest in such circumstances are identified and appropriately addressed. The Board of Trustees has delegated the responsibility to vote proxies for the Funds to Domini. More details about the Funds' proxy voting guidelines and Domini's proxy voting policies and procedures, including procedures adopted by Domini to address any potential conflicts of interest, are provided in the complete Proxy Voting Policies and Procedures in Appendix B.

All proxy votes cast for the Funds are posted to Domini's website on an ongoing basis over the course of the year. An annual record of all proxy votes cast for the Funds during the most recent 12-month period ended June 30 can be obtained, free of charge, at *www.domini.com/proxyvoting,* and on the EDGAR database on the SEC's website at *www.sec.gov*.

#### PORTFOLIO HOLDINGS INFORMATION
The Funds have implemented portfolio holdings disclosure policies and procedures that govern the timing and circumstances of disclosure to shareholders and third-parties of information regarding the portfolio investments held by the Funds. These portfolio holdings disclosure policies and procedures have been approved by the Board of Trustees of the Funds and are subject to periodic review by the Board of Trustees.

Disclosure of each Fund's holdings is required to be made within 60 days of the end of each fiscal semi-annual period (each July 31 and January 31) and as of the end of its first and third fiscal quarters (each October 31 and April 30) within 60 days of the end of the fiscal quarter.

To obtain copies of the Funds' portfolio holdings information free of charge, call 1-800-582-6757. The Funds' portfolio holdings information is available online at *www.domini.com/funddocuments* and on the EDGAR database on the SEC's website, *www.sec.gov*.

------

Domini's website (*www.domini.com/funddocuments*) identifies each Fund's largest ten portfolio holdings or issuers that together constitute the largest portion of each Fund's assets, as of the last calendar day of each month with a 15-day delay. The top-ten holdings information is publicly available to all categories of persons. Top-ten holdings information may also be provided in Fund fact sheets and similar advertisements provided to retail and institutional investors updated as of the last day of the most recent calendar quarter, with a 15-day delay or as of some other interim period that shall be updated no more frequently than as of the last calendar day each month, with a 15-day lag.

In addition, Domini's website (*www.domini.com/funddocuments)* contains information about each Fund's portfolio holdings, including, as applicable, the security description, the security identification number, par value, interest rate, maturity date, market value, and percentage of total investments, in each case updated as of the end of the most recent calendar quarter (i.e., each March 31, June 30, September 30, and December 31). This information is provided on the website with a lag of at least 30 days and will be available until updated for the next calendar quarter. All information described in this paragraph is publicly available to all categories of persons.

During the first calendar quarter of a Fund's operations and for 30 days thereafter, Domini's website (*www.domini.com/funddocuments*) may also contain portfolio holdings information with respect to the Fund as of 5 business days after the commencement of operations of the Fund, or any later date in such calendar quarter with a lag, in each case, of at least 7 business days. Such information is limited to descriptions of the securities held by the Fund and the identification numbers and/or ticker symbols for such securities. All information described in this paragraph is publicly available to all categories of persons.

From time to time, rating and ranking organizations, such as Standard and Poor's, may request complete portfolio holdings information in connection with rating a Fund. Similarly, pension plan sponsors and/or their consultants may request a complete list of portfolio holdings in order to assess the risks of a Fund's portfolio along with related performance attribution statistics. The Funds believe that these third parties have legitimate objectives in requesting such portfolio holdings information. To prevent such parties from potentially misusing portfolio holdings information, the Funds will generally only disclose such information as of the end of the most recent calendar quarter, with a lag of at least 30 days, or, during a Fund's first calendar quarter of operations, as of 5 business days after the commencement of operations of the Fund, or any later date during such calendar quarter with a lag of at least 7 business days, as described above.

In addition, the Funds' Chief Compliance Officer, or his or her designee, may grant exceptions to permit additional disclosure of the Funds' portfolio holdings information at differing times and with different lag times to rating agencies and to pension plan sponsors and/or their consultants, provided that (1) the recipient is subject to a confidentiality agreement, (2) the recipient will utilize the information to reach certain conclusions about the investment management characteristics of the Funds and will not use the information to facilitate or assist in any investment program, (3) the recipient will not provide access to third-parties to this information, and (4) the recipient will receive this information no earlier than 7 business days after the end of the calendar quarter (or, during a Fund's first calendar quarter of operations, the recipient will receive this information as of 5 business days after the commencement of operations of the Fund, or a later date in such calendar quarter with at least, in each case, a lag of 7 business days). In approving a request for an exception, the Chief Compliance Officer will consider a recipient's need for the relevant holdings information, whether the disclosure will be in the best interest of the Fund and its shareholders, and whether conflicts of interest from such disclosures are appropriately resolved.

As of October 31, 2025, each Fund has obtained confidentiality agreements and has arrangements to provide additional disclosure of portfolio holdings information to the following rating and ranking organizations and pension plan consultants: Bidart and Ross, Cambridge Associates, Glass, Lewis & Co., LLC, Jeffrey Slocum & Associates, Inc., Marquette Associates, Mercer Investment Consulting, New England Pension Consultants, Standard and Poor's, RV Kuhns & Associates, Inc. The Board of Trustees receives periodic reports regarding entities that receive disclosure regarding the Fund's portfolio holdings as described in this paragraph.

In addition, the service providers of the Funds, such as the principal underwriter, subadvisers, custodian, administrator, securities lending agent, transfer agent, pricing vendors, proxy voting vendors, financial printers, counsel, and independent registered public accounting firm, may receive daily portfolio holdings information in connection with their services to the Funds, as applicable. As of October 31, 2025, the following Fund service providers may receive daily portfolio holdings information in connection with their services to the Funds: Domini Impact Investments LLC, DSIL Investment Services LLC, Wellington Management Company LLP, SSGA Funds Management Inc., S&P Dow Jones Indices Limited, State Street Bank and Trust Company, Ultimus Fund Solutions, LLC, ICE Data Pricing and Reference Data, LLC, ICE Data, LP, Glass, Lewis & Co., LLC, Morgan, Lewis & Bockius LLP, Donnelly Financial LLC, Donnelly Financial Solutions, Bloomberg LP, Rep Risk, and KPMG LLP.

A Subadviser may also provide information regarding a Fund's portfolio holdings to certain of its service providers in connection with the services provided to the Adviser or Subadviser by such service providers (such as analytical services, proxy voting services, portfolio management and operational systems, or clearing functions). When purchasing and selling its portfolio securities through

------

broker-dealers requesting bids on securities, or obtaining price quotations on securities, the Adviser, the Funds or their Subadviser may disclose portfolio holdings to the party effecting the transaction or providing the information.

In connection with providing investment advisory services to fund clients, as of September 30, 2025, Wellington Management had ongoing arrangements to disclose non-public portfolio holdings information to the following parties: Acadia Soft performs certain operational functions for Wellington Management and receives portfolio holdings information on a daily basis. Accenture performs certain operational functions on behalf of Wellington Management and has access to portfolio holdings on a daily basis. Brown Brothers Harriman & Co. performs certain operational functions for Wellington Management and receives portfolio holdings information on a daily basis. Clearwater Analytics performs certain operational functions for Wellington Management and receives portfolio trades and holdings information on a daily basis (Note this is effective 30 April 2023). Dynamo Software provides a technology platform to support private placement transactions, integrating the components of a private investment lifecycle into one system (Note: implementation completed in Q3 2024). FactSet Research Systems Inc. provides analytical services for Wellington Management and receives portfolio holdings information on a daily basis. Glass, Lewis & Co. provides proxy voting services for Wellington Management and receives portfolio holdings information on a daily basis where Wellington has been assigned voting discretion and accounts have opted in to vote reconciliation. Markit WSO Corporation performs certain operational functions on behalf of Wellington Management and receives syndicated bank loan portfolio holdings information on a daily basis. MSCI, Inc provides analytical services for Wellington Management and receives portfolio holdings information on an ad hoc basis as necessary.

State Street Bank and Trust Company performs certain operational functions on behalf of Wellington Management and receives portfolio holdings information on a daily basis. Tri Optima performs certain operational functions for Wellington Management and receives portfolio holdings information on a daily basis. Wellington also makes disclosures of portfolio holdings to other third parties where we do not identify specific clients. In connection with providing investment sub-advisory services to Domini, as of September 30, 2025, SSGA Funds Management, Inc. has ongoing arrangements to disclose non-public portfolio holdings information to the following parties: Axioma provides risk model and portfolio optimization services; FactSet Research Systems, Inc., provides analytical services; Fidessa Minerva provides order management services; Fidessa Sentinel provides portfolio compliance services; and Virtu Financial, Inc. (ITG Analytical Tool) provides transaction cost analysis.

From time to time, Domini or a Fund may disclose information on portfolio holdings to other parties to the extent necessary in connection with actual or threatened litigation.

In no event shall Domini, Domini's affiliates or employees, any Subadviser, any Subadviser's affiliates or employees, or the Funds receive any direct or indirect compensation in connection with the disclosure of information about a Fund's portfolio holdings.

#### INVESTMENT RESTRICTIONS
Fundamental Restrictions

Each of the Funds has adopted the following policies, which may not be changed without approval by holders of a "majority of the outstanding voting securities" (as defined in the 1940 Act) of the applicable Fund, which as used in this Statement of Additional Information means the vote of the lesser of (i) 67% or more of the outstanding "voting securities" of a Fund, present at a meeting, if the holders of more than 50% of the outstanding "voting securities" of that Fund are present or represented by proxy, or (ii) more than 50% of the outstanding "voting securities" of a Fund. The term "voting securities" as used in this paragraph has the same meaning as in the 1940 Act except that each Fund shareholder will have one vote for each dollar of net asset value.

The Funds may not do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Borrow money if such borrowing is specifically prohibited by the 1940 Act or the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Make loans to other persons if such loans are prohibited by the 1940 Act or the rules and regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Purchase or sell real estate or interests in oil, gas, or mineral leases in the ordinary course of business. (Each of the Funds reserves the freedom of action to hold and to sell real estate acquired as the result of the ownership of securities by the Fund, as applicable.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Purchase or sell commodities or commodities contracts in the ordinary course of business. (The foregoing shall not preclude a Fund from purchasing or selling futures contracts or options thereon.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) Underwrite securities issued by other persons, except that all or any portion of the assets of a Fund may be invested in one or more investment companies, to the extent not prohibited by the 1940 Act, the rules and regulations thereunder, and exemptive

------

orders granted under such Act, and except insofar as a Fund may technically be deemed an underwriter under the 1933 Act, in selling a security.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Issue any senior security (as that term is defined in the 1940 Act) if such issuance is specifically prohibited by the 1940 Act or the rules and regulations promulgated thereunder.

In addition, the EQUITY FUND may not do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7) Invest more than 25% of its assets in any one industry except that (a) all or any portion of the assets of the Fund may be invested in one or more investment companies, to the extent not prohibited by the 1940 Act, the rules and regulations thereunder, and exemptive orders granted under such Act and (b) if an investment objective or strategy of the Fund is to match the performance of an index and the stocks in a single industry compose more than 25% of such index, the Fund may invest more than 25% of its assets in that industry.<sup>1</sup>

In addition, the INTERNATIONAL EQUITY FUND may not do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8) Invest more than 25% of its assets in any one industry except that all or any portion of the assets of the Fund may be invested in one or more investment companies, to the extent not prohibited by the 1940 Act, the rules and regulations thereunder, and exemptive orders granted under such Act.

In addition, the BOND FUND may not do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) Concentrate its investments in any particular industry, but if it is deemed appropriate for the achievement of the Fund's investment objective, up to 25% of its assets, at market value at the time of each investment, may be invested in any one industry, except that positions in futures contracts shall not be subject to this restriction.

In addition, the SUSTAINABLE SOLUTIONS FUND may not do the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) Except as permitted by exemptive or other relief or permission from the SEC, SEC staff or other authority of competent jurisdiction, invest more than 25% of its assets in any one industry or group of industries.

For purposes of restriction (1) above, covered mortgage dollar rolls and arrangements with respect to securities lending are not treated as borrowing.

In addition, as a matter of fundamental policy, the Equity Fund will invest all of its investable assets in (a) securities and instruments that meet social criteria, (b) one or more investment companies that apply social criteria in selecting securities and instruments, (c) cash, and (d) any combination of the foregoing.

With respect to the fundamental policy relating to borrowing money set forth in (1) above, the 1940 Act permits a Fund to borrow money in amounts of up to one-third of the Fund's total assets from banks for any purpose, and to borrow up to 5% of the Fund's total assets from banks or other lenders for temporary purposes (the Fund's total assets include the amounts being borrowed). To limit the risks attendant to borrowing, the 1940 Act requires the Fund to maintain at all times an "asset coverage" of at least 300% of the amount of its borrowings. Asset coverage means the ratio that the value of the Fund's total assets (including amounts borrowed), minus liabilities other than borrowings, bears to the aggregate amount of all borrowings. Borrowing money to increase a Fund's investment portfolio is known as "leveraging." Borrowing, especially when used for leverage, may cause the value of a Fund's shares to be more volatile than if the Fund did not borrow. This is because borrowing tends to magnify the effect of any increase or decrease in the value of the Fund's portfolio holdings. Borrowed money thus creates an opportunity for greater gains, but also greater losses. To repay borrowings, the Fund may have to sell securities at a time and at a price that is unfavorable to the Fund. There also are costs associated with borrowing money, and these costs would offset and could eliminate a Fund's net investment income in any given period. Currently, the Fund does not contemplate borrowing for leverage, but if the Fund does so, it will not likely do so to a substantial degree. The policy in (1) above will be interpreted to permit the Fund to engage in trading practices and investments that may be considered to be borrowing to the extent permitted by the 1940 Act. Reverse repurchase agreements may be considered to be a type of borrowing. A Fund may enter into reverse repurchase agreements and similar financing transactions, provided that the Fund maintains asset coverage of at least 300% with respect to such transactions and any other borrowings in the aggregate in accordance with Section 18 of the 1940 Act. See "Derivatives" above. Short-term credits necessary for the settlement of securities transactions and arrangements with respect to securities lending will not be considered to be borrowings under the policy. Practices and investments that may involve leverage but are not considered to be borrowings are not subject to the policy. Such trading practices may include futures, options on futures, forward contracts and other derivative investments.

------

Nonfundamental Restrictions

The following policies are not fundamental and may be changed with respect to a Fund by that Fund without approval of the Fund's shareholders. Each Fund will comply with the state securities laws and regulations of all states in which it is registered.

None of the Funds will, as a matter of operating policy, invest more than 15% of its net assets in illiquid securities, except that each such Fund may invest all or any portion of its assets in one or more investment companies, to the extent not prohibited by the 1940 Act or the rules and regulations thereunder.

The EQUITY FUND will not as a matter of operating policy purchase puts, calls, straddles, spreads, and any combination thereof if the value of its aggregate investment in such securities will exceed 5% of the Equity Fund's total assets at the time of such purchase.

The EQUITY FUND has a nonfundamental policy to invest, under normal circumstances and as a matter of operating policy, at least 80% of its net assets in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. Shareholders in the Equity Fund will be provided with at least 60 days' prior notice of any change in the nonfundamental policy set forth in this paragraph.

The SUSTAINABLE SOLUTIONS FUND has a nonfundamental policy to invest, under normal circumstances and as a matter of operating policy, at least 80% of its net assets (plus the amount of borrowings, if any, for investment purposes) in securities of companies that demonstrate a commitment to sustainability solutions. Shareholders of the Fund will be provided with at least 60 days prior written notice if the Fund changes this 80% policy.

The INTERNATIONAL EQUITY FUND has a nonfundamental policy to invest, under normal circumstances and as a matter of operating policy, at least 80% of its net assets in equity securities and related investments with similar economic characteristics, including derivative instruments such as futures and options. The International Equity Fund will give its shareholders 60 days' prior notice of any change in the nonfundamental policy set forth in this paragraph.

 <sup>1</sup> The Equity Fund does not currently have an investment objective or an investment strategy to match the performance of an index.

As a nonfundamental policy, the BOND FUND will, under normal circumstances, invest at least 80% of its net assets in bonds, including government and corporate bonds, mortgage-backed and asset-backed securities, non-U.S. dollar-denominated bonds, and U.S. dollar-denominated bonds issued by non-U.S. entities. Shareholders in the Bond Fund will be provided with at least 60 days' prior notice of any change in the nonfundamental policy set forth in this paragraph.

Each Fund's non-fundamental investment policies may be changed by a vote of the Board of Trustees without approval of shareholders at any time.

Diversification

Each Fund is currently classified as a diversified fund under the 1940 Act. As a diversified fund, a Fund may not purchase securities of an issuer (other than obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities) if, with respect to 75% of the Fund's total assets, (a) more than 5% of the Fund's total assets would be invested in securities of that issuer, or (b) the Fund would hold more than 10% of the outstanding voting securities of that issuer. Under the 1940 Act, the Fund cannot change its classification from diversified to non-diversified without shareholder approval.

Percentage and Rating Restrictions

If a percentage restriction or rating restriction on investment or utilization of assets set forth above or referred to in the Prospectus is adhered to at the time an investment is made or assets are so utilized, a subsequent change in circumstances will not be considered a violation of policy, provided that if at any time the ratio of borrowings of a Fund to the net asset value of that Fund, respectively, exceeds the ratio permitted by Section 18(f) of the 1940 Act, the applicable Fund, as the case may be, will take the corrective action required by Section 18(f).

------

Cybersecurity Issues

With the increased use of technologies such as the Internet to conduct business, the fund is susceptible to operational, information security, and related risks. In general, cyber incidents can result from deliberate attacks or unintentional events. Cyberattacks include, but are not limited to, attempts to gain unauthorized access to digital systems (e.g., through "hacking" or malicious software coding) for purposes of misappropriating assets or sensitive information, corrupting data, denying access, or causing other operational disruption. Cyberattacks may also be carried out in a manner that does not require gaining unauthorized access, such as causing denial-of-service attacks on websites (i.e., efforts to make network services unavailable to intended users). The Funds' service providers regularly experience such attempts, and expect they will continue to do so. The Funds are unable to predict how any such attempt, if successful, may affect the Funds and their shareholders. While the Funds' adviser has established business continuity plans in the event of, and risk management systems to prevent, limit or mitigate, such cyberattacks, there are inherent limitations in such plans and systems, including the possibility that certain risks have not been identified. Furthermore, the Funds cannot control the cybersecurity plans and systems put in place by service providers to the Funds such as State Street Bank and Trust Company, the Funds' custodian, and Ultimus Fund Solutions, LLC, the Funds' transfer agent. In addition, many beneficial owners of Fund shares hold them through accounts at broker-dealers, retirement platforms and other financial market participants over which neither the Funds nor the adviser exercises control. Each of these may in turn rely on service providers, which are also subject to the risk of cyberattacks. Cybersecurity failures or breaches at the adviser or the Funds' service providers or intermediaries have the ability to cause disruptions and impact business operations potentially resulting in financial losses, interference with a Fund's ability to calculate its NAV, impediments to trading, the inability of Fund shareholders to effect share purchases, redemptions or exchanges or receive distributions, loss of or unauthorized access to private shareholder information and violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, or additional compliance costs. Such costs and losses may not be covered under any insurance. In addition, maintaining vigilance against cyberattacks may involve substantial costs over time, and system enhancements may themselves be subject to cyberattacks.

**3.** **DETERMINATION OF NET ASSET VALUE; VALUATION OF PORTFOLIO SECURITIES; ADDITIONAL PURCHASE, SALE, AND ACCOUNT CLOSING INFORMATION** 

The net asset value of each share of each class of the Funds is determined each day on which the NYSE is open for trading ("Fund Business Day"). As of the date of this Statement of Additional Information, the NYSE is open for trading every weekday, except in an emergency and the following holidays: New Year's Day, Martin Luther King, Jr. Day, Presidents' Day, Good Friday, Memorial Day, Juneteenth National Independence Day, Independence Day, Labor Day, Thanksgiving Day, and Christmas Day. This determination of net asset value of shares of each class of the Funds is made once during each such day as of the close of regular trading of the NYSE by dividing the value of the net assets of the applicable class (i.e., for a class of a Fund, the value of its assets less its liabilities, including expenses payable or accrued) by the number of shares of the class outstanding at the time the determination is made. Purchases and redemptions will be effected at the time of the next determination of net asset value following the receipt of any purchase or redemption order deemed to be in good order. See "Shareholder Manual" in the Prospectus.

The Adviser has been designated as the Funds' valuation designee in accordance with Rule 2a-5 under the 1940 Act, with responsibility for fair valuation, subject to oversight by the Board of Trustees.

Securities listed or traded on national securities exchanges are valued at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price that represents the current value of the security. Securities listed on the NASDAQ National Market System are valued using the NASDAQ Official Closing Price (the "NOCP"). If an NOCP is not available for a security listed on the NASDAQ National Market System, the security will be valued at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price. Options and futures contracts are normally valued at the settlement price on the exchange on which they are traded.

Securities that are primarily traded on foreign exchanges generally are valued at the closing price of such securities on their respective exchanges, except that if a Fund's Adviser, as valuation designee, is of the opinion that such price would result in an inappropriate value for a security, including as a result of an occurrence subsequent to the time a value was so established, then the fair value of those securities may be determined by consideration of other factors by the Funds' valuation designee. In valuing assets, prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate.

Bonds and other fixed-income securities are valued on the basis of valuations furnished by independent pricing services, use of which has been approved for the Funds by the Funds' valuation designee. In making such valuations, the pricing services utilize both dealer-supplied valuations and electronic data processing techniques that take into account appropriate factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics, and other market data, without exclusive reliance upon quoted prices or exchange or over-the-counter prices, since such valuations are believed to reflect more accurately the fair value of such securities.

------

The Bond Fund may invest in certain community development investments for which a market price might not readily be available, provided that the Bond Fund may not invest more than 15% of its net assets in illiquid securities. In those circumstances, the fair value of the community development investment is determined using fair value procedures.

Interest income on long-term obligations is determined on the basis of interest accrued plus amortization of "original issue discount" (generally, the difference between issue price and stated redemption price at maturity) and premiums (generally, the excess of purchase price over stated redemption price at maturity). Interest income on short-term obligations is determined on the basis of interest accrued less amortization of premium.

All other securities and other assets of a Fund for which market quotations are determined to be not readily available will be valued using fair value procedures. The frequency with which a Fund's investments will be valued using fair value pricing is primarily a function of the types of securities and other assets in which the Fund, as applicable, invests pursuant to its investment objective, strategies, and limitations.

Investments that may be valued using fair value pricing include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (i.e., one that may not be publicly sold without registration under the Securities Act of 1933); (iii) a security whose trading has been suspended or that has been delisted from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation; (vi) a security affected by extreme market conditions; (vii) a security affected by currency controls or restrictions; and (viii) a security affected by a significant event (i.e., an event that occurs after the close of the markets on which the security is traded but before the time as of which the Fund's, as applicable, net asset value is computed and that may materially affect the value of the Fund's, as applicable, investments). Examples of events that may be "significant events" are government actions, natural disasters, armed conflict, acts of terrorism, and significant market fluctuations.

While no single standard for determining fair value exists, as a general rule, the current fair value of a security would appear to be the amount that a Fund, as applicable, would expect to receive upon its current sale. Some, but not necessarily all, of the general factors that may be considered in determining fair value include: (a) the fundamental analytical data relating to the investment, (b) the nature and duration of restrictions on disposition of the securities, and (c) an evaluation of the forces that influence the market in which these securities are purchased and sold. Without limiting or including all of the specific factors that may be considered in determining fair value, some of the specific factors include: type of security, financial statements of the issuer, cost at date of purchase, size of holding, discount from market value, value of unrestricted securities of the same class at the time of purchase, special reports prepared by analysts, information as to any transactions or offers with respect to the security, existence of merger proposals or tender offers affecting the security, price, and extent of public trading in similar securities of the issuer or comparable companies, and other relevant matters.

Valuing the Funds' investments using fair value pricing will result in using prices for those investments that may differ from current market prices or what the Fund would receive upon the sale of such security. In addition, fair value pricing could have the benefit of reducing potential arbitrage opportunities presented by a lag between a change in the value of the Fund's investments and the reflection of that change in the Fund's net asset value.

The Sustainable Solutions Fund and International Equity Fund invest primarily in the stocks of non-U.S. companies. Non-U.S. equity securities are valued on the basis of their most recent closing market prices at 4 pm Eastern Time except under the circumstances described below. Most non-U.S. markets close before 4 pm Eastern Time. If a Fund's Adviser, as valuation designee, determines that developments between the close of the non-U.S. market and 4 pm Eastern Time will, in its judgment, materially affect the value of some or all of the Fund's securities, the previous closing prices will be adjusted to reflect what is believed to be the fair value of the securities as of 4 pm Eastern Time. In deciding whether to make these adjustments, the Adviser, as the Fund's valuation designee, reviews a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. Securities may also be fair valued in other situations, for example, when a particular foreign market is closed but the Fund is open. Each Fund uses outside pricing services to provide it with closing market prices and information used for adjusting those prices. The fair value for a foreign security reported on by such service with a confidence level approved by the Funds' valuation designee, shall be the value provided by such service. However, a Fund cannot predict how often it will use closing prices and how often it will adjust those prices. As a means of evaluating the Funds' fair value process, the Adviser, as the Funds' valuation designee, routinely compares closing market prices, the next day's opening prices in the same markets, and adjusted prices. Please note that each Fund may hold securities that are primarily listed on foreign exchanges that may trade on weekends or other days when the Funds do not calculate their net asset value or price their shares. Therefore, the value of the securities held by these Funds may change on days when shareholders will not be able to purchase or sell the applicable Fund's shares.

Shares of a Fund may be purchased directly from the Distributor or through Service Organizations (see "Transfer Agent, Custodian, and Service Organizations" below) by clients of those Service Organizations. If an investor purchases such shares through a Service Organization, the Service Organization must promptly transmit such order to the appropriate Fund so that the order receives the net asset value next determined following receipt of the order. Investors wishing to purchase shares through a Service Organization should

------

contact that organization directly for appropriate instructions. Investors making purchases through a Service Organization should be aware that it is the responsibility of the Service Organization to transmit orders for purchases of shares by its customers to the Transfer Agent and to deliver required funds on a timely basis.

#### Account Closings, Lost Shareholders, Inactive Accounts, and Unclaimed Property
There may be instances in which it is appropriate for your shares to be redeemed and your account to be closed. Your shares could be sold and your account could be closed if: your identity cannot be verified or you fail to provide a valid SSN or TIN; the registered address of your account is outside of the United States or in a U.S. jurisdiction in which the Fund shares are not registered; transactions in your account raise suspicions of money laundering, fraud or other illegal conduct; shares purchased are not paid for when due; your account does not meet the qualifications for ownership for the particular class of shares held in your account; maintenance of your account jeopardizes the tax status or qualifications of the Funds; your account balance falls to $1,500 or less and you fail to bring the account above the $1,500 within thirty (30) days of notification; there is a change in your broker of record, for example your broker is no longer able to sell Fund shares; or closing the account is determined to be in the best interest of a Fund.

Certain states have unclaimed property laws that may require the Fund or its transfer agent to transfer the assets of accounts that are considered abandoned, inactive, or lost (due to returned mail) to the appropriate state authority. An account may be deemed unclaimed if the shareholder has not initiated any contact or transaction within a time period specified by applicable state law.

In some cases, this process is referred to as escheatment, and shareholders may be required to reclaim the assets from the applicable state's unclaimed property office. Some states may also require the liquidation of shares prior to escheatment, and shareholders may only be entitled to receive the cash value at the time of sale.

For retirement accounts, such escheatment may be treated as a taxable distribution, and federal and/or state income tax withholding may apply.

To help avoid escheatment, shareholders should maintain current contact information and periodically initiate contact with the Fund or its transfer agent. Examples of shareholder-initiated contact include written correspondence, telephone inquiries, or initiating a transaction in the account.

In accordance with Texas law, residents of the state of Texas may designate a representative to receive legislatively required unclaimed property due diligence notifications. A Texas Designation of Representative Form is available for making such an election.

#### Limitation of Redemptions In-Kind
The Trust has elected to be governed by Rule 18f-1 under the 1940 Act pursuant to which each Fund is obligated to redeem shares solely in cash up to the lesser of $250,000 or 1% of the net asset value of a Fund during any 90-day period for any one shareholder. Should redemptions by any shareholder exceed such limitation, each Fund will have the option of redeeming the excess in cash or in kind. If shares are redeemed in kind, the redeeming shareholder might incur brokerage costs in converting the assets into cash. The method of valuing securities used to make redemptions in kind will be the same as the method of valuing portfolio securities described under "How the Price of Your Shares Is Determined" in the Prospectus, and such valuation will be made as of the same time the redemption price is determined.

**4.** **MANAGEMENT OF THE FUNDS** 

The management and affairs of each Fund and the Trust are overseen by the Board of Trustees of the Trust and a single set of officers under the laws of the Commonwealth of Massachusetts. The Board sets broad policies for the Funds; selects the investment adviser, subadviser(s), and the other principal service providers of the Funds; monitors Fund operations, regulatory compliance, performance, and costs; nominates and selects new Trustees; and elects Fund officers. The Board is responsible for the oversight of the management and operations of each Fund for the benefit of its shareholders. Domini, each Fund's subadviser and the Funds' other service providers are responsible for the day-to-day operations of the Funds subject to the oversight of the Board. The Board currently holds four regularly scheduled meetings throughout each year. In addition, the Board may hold special meetings at other times. As described in more detail below, the Board has established two standing committees, the Audit Committee and the Nominating Committee. These committees assist the Board in fulfilling its oversight responsibilities. Neither the Funds nor the Trust holds annual shareholder meetings for the purpose of electing Trustees, and Trustees are not elected for fixed terms. This means that each Trustee will be elected to hold office until his or her successor is elected or until he or she retires, resigns, dies, or is removed from office.

The Funds face a number of risks, such as investment risk, valuation risk, risk of operational failure or lack of business continuity, cybersecurity and legal, compliance and regulatory risk. The goal of risk management is to identify and address risks, i.e., events or circumstances that could have material adverse effects on the business, operations, shareholder services, investment performance or reputation of the Funds.

------

The Trustees play an active role, as a full Board and at the committee level, in overseeing risk management for the Funds. Risk management of the Funds on a day-to-day basis has been delegated to Domini, each Fund's subadviser, and the Funds' other service providers. Each of these entities is responsible for specific portions of the Funds' operations and provides the Trustees with regular reports regarding, among other things, investment, valuation, liquidity, and compliance, as well as the risks and risk management associated with each. The Trustees also oversee risk management for the Funds through regular interactions with the Funds' Chief Compliance Officer and independent auditors.

The full Board participates in the Funds' risk oversight, in part, by receiving regular reports regarding Domini's compliance program which covers the following broad areas of compliance: investment and other operations; recordkeeping; valuation and pricing; disclosure; reporting and accounting; oversight of service providers; fund governance; and code of ethics controls. The program seeks to identify and address the risk associated with the operations of the investment adviser and the Funds through various methods, including through regular communications between compliance, legal, and business personnel who participate on a daily basis in risk management on behalf of the Funds. The same person serves as Chief Compliance Officer of the Funds and the investment adviser. The Chief Compliance Officer of the Funds reports directly to the Board and provides reports to the Board in writing and in meetings on a regular basis.

The Audit Committee of the Board, which is composed of all the Trustees who are not "interested persons" (as defined in the 1940 Act) of the Trust ("Independent Trustees"), oversees management of financial risk and controls. The Audit Committee serves as the channel of communication between the independent auditors of the Funds and the Board with respect to financial statements and financial reporting processes, systems of internal control, and the audit process. The external auditors report directly to the Audit committee and provide reports to the Board in writing and in meetings on a regular basis. The independent auditors also provide reports to the Audit Committee without management being present. Although the Audit Committee is responsible for overseeing the management of financial risks, the entire Board is regularly informed of these risks through committee reports.

The Trustees recognize that not all risks that may affect the Trust can be identified, mitigated, or eliminated. Moreover, it is necessary to bear certain risks, such as investment related risk, to achieve each Fund's investment objective, and the processes, procedures, and controls employed to address certain risks may be limited in their effectiveness (see "Cybersecurity Issues" above). As a result of the foregoing and other factors, the Funds' ability to eliminate or mitigate risks is subject to limitation.

Pursuant to the Declaration of Trust, each Trustee may hold office until his or her successor is elected or until he or she retires, resigns, dies, or is removed from office. The Board has adopted a retirement policy that provides that each Trustee shall be eligible to serve until the close of business on the last day of the fiscal year in which the Trustee has his or her 75th birthday unless an exception is approved. This retirement policy may be amended or waived with respect to any Trustee prior to the end of each fiscal year in which such Trustee attains the age of 75 if the Board: (i) meets to review the performance of such Board member; (ii) finds that the continued service of such Board member is in the best interests of the Trust; and (iii) unanimously approves the exemption from the Trust's retirement policy.

In determining whether an individual is qualified to serve as Trustee of the Funds, the Board considers a wide variety of information about the Trustee, on an individual basis and in combination with those of the other Trustees, and multiple factors contribute to the Board's decision. When considering potential nominees to fill vacancies on the Board, and as part of its annual self-evaluation, the Board reviews the mix of skills and other relevant experiences of the Trustees. The Board has concluded that each Trustee has the experience, qualifications, attributes, or skills necessary to serve the Funds and their shareholders. Attributes common to all Trustees include their ability to review critically and discuss complex business and financial matters, evaluate the relative importance and priority of issues, make decisions, contribute effectively to the deliberations of the Board, interact effectively with Domini, each Fund's subadviser, and the other service providers of the Funds, and to exercise reasonable business judgment in the performance of their duties as Trustees. In addition, the Board has taken into account the service and commitment of the Trustees during their tenure in concluding that each Trustee should serve as a Trustee of the Funds.

A Trustee's ability to perform his or her duties effectively may have been attained through his or educational background or professional training; business, consulting, public service or academic positions; experience from service as a board member of the Domini Funds, public companies, or nonprofit entities or other organizations; or other experiences. The Board also considered the individual experience of each Trustee and determined that the Trustee's professional experience, education, and background contribute to the diversity of perspective on the Board.

The specific roles and experience of each Trustee that factor into the Board's determination are presented below (ages and employment tenures listed are as of July 31, 2025). References to the qualifications, attributes, and skills of Trustees are pursuant to the requirements of the Securities and Exchange Commission, do not constitute holding out of the Board or any Trustee as having any special expertise or experience, and shall not impose any greater responsibility or liability on any such person or on the Board by reason thereof. Unless otherwise indicated below, the mailing address of each Trustee and officer is 180 Maiden Lane, Suite 1302, New York, New York 10038.

------

Asterisks indicate that those Trustees and officers are "interested persons" of the Trust as defined in the 1940 Act. Each Trustee and officer of the Trust noted as an "interested person" is interested by virtue of his or her position with Domini as described in the following table.

#### TRUSTEES AND OFFICERS

---

| | | | |
|:---|:---|:---|:---|
| **NAME, AGE, POSITION(s)**<br> **HELD, AND LENGTH OF**<br> **TIME SERVED** | **PRINCIPAL OCCUPATION(S)**<br> **DURING PAST 5 YEARS** | **NUMBER OF**<br> **DOMINI**<br> **FUNDS**<br> **OVERSEEN**<br> **BY TRUSTEE** | **OTHER**<br> **DIRECTORSHIPS HELD**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BY TRUSTEE**  |
| **INTERESTED TRUSTEE AND OFFICER** | **INTERESTED TRUSTEE AND OFFICER** |  |  |
| Carole M. Laible\*<br> (61)<br> Chair of the Trust Board and Trustee of the Trust (since 2024), and President of the Trust<br> (since 2017) | Portfolio Manager, Domini Sustainable Solutions Fund(since 2020), Domini International Opportunities Fund (2020 to 2025), and Domini Impact Equity Fund (since 2018); CEO and Manager (since 2016), Member (since 2006), Domini Impact Investments LLC; Manager (since 2017), President and CEO (since 2002), Chief Financial Officer (since 1998), Secretary (since 1998), Treasurer (since 1998) and Registered Principal (since 1998), DSIL Investment Services LLC; Manager (since 2016), Domini Holdings LLC (holding company). `Ms. Laible brings particular experience with mutual funds operations and advanced knowledge on environmental and social research, sustainable investing, and industry trends. | 4 | N/A |
| **INDEPENDENT TRUSTEES** | **INDEPENDENT TRUSTEES** |  |  |
| Caroline Flammer<br> (48)<br> Trustee of the Trust (since 2023), Audit Committee Member (since 2023), Nominating Committee Member (since 2023) | &nbsp;&nbsp; Vice Dean for Research and Faculty Affairs, School for International and Public Affairs (SIPA) (July 2024 to June 2025), Professor of International and Public Affairs and of Climate (since 2022); Visiting Professor of International and Public Affairs (July to December 2021), Columbia University (research and education); Verena Meyer Visiting Professor (July to August 2023, July to August 2024, July to August 2025), University of Zurich (research and education); Rafto Visiting Professor in Business and Human Rights (January 2023 to December 2024, January 2025 to present), NHH Norwegian School of Economics, (research and education); President (since 2022), Alliance for Research and Corporate Sustainability (research and education); Associate Professor of Strategy and Innovation (2018-2021), Boston University (research and education). Ms. Flammer brings to the Board particular experience with sustainable investing and with international business, climate, and public affairs matters. | 4 | N/A |
| Gregory A. Ratliff<br> (65)<br> Trustee of the Trust (since 1999), Audit Committee Member (since 1999), and Nominating Committee Chair (since 2023) and Member (since 1999) | &nbsp;&nbsp; Senior Vice President (since 2019), Rockefeller Philanthropy Advisors (philanthropy). Mr. Ratliff brings to the Board particular experience with community development investment institutions and financial markets. | 4 | N/A |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **NAME, AGE, POSITION(s)**<br> **HELD, AND LENGTH OF**<br> **TIME SERVED** | **PRINCIPAL OCCUPATION(S)**<br> **DURING PAST 5 YEARS** | **NUMBER OF**<br> **DOMINI**<br> **FUNDS**<br> **OVERSEEN**<br> **BY TRUSTEE** | **OTHER**<br> **DIRECTORSHIPS HELD**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BY TRUSTEE**  |
| **INDEPENDENT TRUSTEES CONT'D** | **INDEPENDENT TRUSTEES CONT'D** |  |  |
| <br> John L. Shields<br> (72)<br> Trustee of the Trust (since 2004), Nominating Committee Member (since 2004), Audit Committee Chair (since 2004), and Lead Independent Trustee (since 2023) | <br> President (since 2018), Advisor Guidance, Inc. (management consulting firm). Mr. Shields brings to the Board particular experience with the investment management industry, accounting and financial management, and mutual fund and adviser operations. | 4 | Director (since 2018), EverQuote, Inc. (technology company) (public); Director (since 2015), Vestmark, Inc. (software company); Director (since 2008), Cogo Labs, Inc. (technology company). |

---

---

| | | | |
|:---|:---|:---|:---|
| **NAME, AGE, POSITION(s)**<br> **HELD, AND LENGTH OF**<br> **TIME SERVED** | **PRINCIPAL OCCUPATION(S)**<br> **DURING PAST 5 YEARS** | **NUMBER OF**<br> **DOMINI**<br> **FUNDS**<br> **OVERSEEN**<br> **BY TRUSTEE** | **OTHER**<br> **DIRECTORSHIPS HELD**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BY TRUSTEE**  |
| **OFFICERS** |  |  |  |
| Maura Colleran\*<br> (55) | Director of Finance (since 2025), Vice President, Finance (1997 to 2025), Domini Impact Investments, LLC. | N/A | N/A |
| Megan L. Dunphy\*<br> (55)<br> Chief Legal Officer of the Trust since 2014, Vice President of the Trust since 2013, and Secretary of the Trust since 2005 | General Counsel (since 2014) and Member (since 2017), Domini Impact Investments LLC; Chief Legal Officer (since 2014), Vice President (since 2013) and Secretary (since 2005), Domini Investment Trust. | N/A | N/A |
| Meaghan O'Rourke-Alexander\*<br> (45)<br> Assistant Secretary of the Trust since 2007 | Senior Compliance Officer (since 2023) and Compliance Officer (2012-2023), Domini Impact Investments LLC; Assistant Secretary (since 2007), Domini Investment Trust. | N/A | N/A |
| Danielle Thebeau<br> (36)<br> Treasurer of the Trust since August 2025 | Chief Financial Officer (since August 2025), Domini Impact Investments LLC; Treasurer and Principal Financial Officer (since August 2025), Domini Investment Trust; Audit Senior Manager (2011-2025), Deloitte and Touche LLP | N/A | N/A |
| Maurizio Tallini\*<br> (51)<br> Chief Compliance Officer of the Trust since 2005, Vice President of the Trust since 2007, Chief Information Security Officer of the Trust since 2015 | Chief Compliance Officer (since 2005) Member (since 2007), and Chief Information Security Officer (since 2015), Domini Impact Investments LLC; Vice President (since 2007), Chief Compliance Officer (since 2005), and Chief Information Security Officer (since 2015) Domini Investment Trust; Chief Compliance Officer (since 2015), Registered Representative (since 2012), Registered Principal (since 2014), and, Chief Information Security Officer (since 2015), DSIL Investments Services LLC. | N/A | N/A |

---

All but one of the Trustees are independent. The Independent Trustees have designated Mr. Shields as Lead Independent Trustee. The Lead Independent Trustee is a spokesperson and principal point of contact for the Independent Trustees and is responsible for

------

coordinating the activities of the Independent Trustees, including calling regular and special executive sessions of the Independent Trustees; reviewing meeting agendas with the Chair or delegate; chairing the meetings of the Independent Trustees; and serving as the principal point of contact and liaison with the Funds' officers and services providers.

The Board has appointed Ms. Laible as the Chair of the Board and the President of the Trust. Ms. Laible also serves as the Chief Executive Officer of Domini. The Board believes that, in light of her experience with Domini and the Trust, Ms. Laible is best qualified to serve as Chair and that the Board's current leadership structure is appropriate given Domini's role with respect to the Funds' investment and business operations. The Board also believes that the Board's leadership structure, as aided by Ms. Laible's experience and capabilities, serves to facilitate the orderly and efficient flow of information to the Independent Trustees from management and otherwise enhance the Board's oversight role.

Board Committees

The Audit Committee oversees the internal and external accounting procedures of the Funds, the independent audits of each Fund, the selection of the independent registered public accountant for the Funds, the approval of all significant services proposed to be performed by the accountants, and considers the possible effect of such services on their independence. All Independent Trustees serve as members of the Committee. The Committee held two meetings during the Funds' last fiscal year.

The Nominating Committee screens and recommends candidates to fill vacancies on the Board of Trustees of the Trust. All Independent Trustees serve as members of the Nominating Committee. The Nominating Committee will consider nominees recommended by shareholders. If you would like to recommend a nominee to the Nominating Committee, please deliver your recommendation in writing to the Secretary of the Trust, 180 Maiden Lane, Suite 1302, New York, New York 10038. The Nominating Committee did not meet during the Funds' last fiscal year.

#### OWNERSHIP OF SHARES IN THE FUNDS AND IN OTHER ENTITIES
The following table shows the amount of equity securities owned by the Trustees in each Fund, and in all investment companies in the Domini family of Funds supervised by the Trustees as of December 31, 2024.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name of Trustee** | **Range of**<br> **Investment in**<br> **the Equity Fund**  | **Range of**<br> **Investment in**<br> **the Sustainable**<br> **Solutions Fund** | **Range of**<br> **Investment in**<br> **the International**<br> **Equity Fund** | **Range of**<br> **Investment in**<br> **the Bond Fund** | **Aggregate Range**<br> **of Investment**<br> **in Domini**<br> **Family of Funds** |
| &nbsp;&nbsp; Interested Trustee: |  |  |  |  |  |
| &nbsp;&nbsp; Carole Laible | $500000-$1000000 | $50001-$100000 | $50001-$100000 | $10001-$50000 | over $1,000,000 |
| &nbsp;&nbsp; Independent Trustees: |  |  |  |  |  |
| &nbsp;&nbsp; Caroline Flammer  | $10001 -$50000 | $0 | $0 | $0 | $10001-$50000 |
| &nbsp;&nbsp; Gregory A. Ratliff | $50001-$100000 | $10001-$50000 | $10001-$50000 | $1 - $10000 | $100001-$500000 |
| &nbsp;&nbsp; John L. Shields | $1 - $10000 | $0 | $0 | $1 - $10000 | $10001-$50000 |

---

#### COMPENSATION AND INDEMNITY OF TRUSTEES
Each of the Independent Trustees receives an annual retainer for serving as a Trustee of the Trust of $39,000. The Lead Independent Trustee, Chair of the Audit Committee, and Chair of the Nominating Committee receive an additional chairperson fee of $5,000 annually. From August 1, 2024 through July 31, 2025, each Independent Trustee also received $1,000 for attendance at each regular quarterly meeting of the Board of the Trust. Effective August 1, 2025, each Independent Trustee will receive $1,500 for attendance at each regular quarterly meeting of the Board of the Trust. In addition, each Trustee receives reimbursement for reasonable expenses incurred in attending meetings.

Information regarding compensation paid to the Trustees by the Trust for the fiscal year ended July 31, 2025, is set forth below. Ms. Laible is not compensated by the Trust for her service as a Trustee because of her affiliation with Domini.

------

#### &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compensation Table

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Name of Trustee** | **Aggregate**<br> **Compensation**<br> **From**<br> **Equity Fund** | **Aggregate<br>Compensation<br>From<br>Sustainable<br>Solutions Fund** | **Aggregate<br>Compensation<br>From<br>International<br>Equity Fund** | **Aggregate**<br> **Compensation**<br> **From**<br> **Bond Fund** | **Pension or**<br> **Retirement**<br> **Benefits**<br> **Accrued as**<br> **Part of**<br> **Trust**<br> **Expenses** | **Estimated**<br> **Benefits**<br> **Upon**<br> **Retirement** | **Total**<br> **Compensation** <br> **From Funds**<br> **and Fund**<br> **Complex Paid**<br> **To Trustees<sup>\*</sup>** |
| &nbsp;&nbsp;&nbsp; Interested Trustee: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Carole Laible |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Independent Trustees: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Caroline Flammer | $21214 | $698 | $16139 | $4696 |  |  | $43000 |
| &nbsp;&nbsp;&nbsp; Gregory A. Ratliff | $23681 | $779 | $18015 | $5242 |  |  | $48000 |
| &nbsp;&nbsp;&nbsp; John L. Shields | $26147 | $860 | $19892 | $5788 |  |  | $53000 |

---

\* Total Compensation from Funds and Fund Complex Paid to Trustees includes aggregate compensation from the Domini International Opportunities Fund which was liquidated effective March 21, 2025.

The Trust's Declaration of Trust provides that it will indemnify its Trustees and officers (the "Indemnified Parties") against liabilities and expenses incurred in connection with litigation in which they may be involved because of their offices with the Trust, unless, as to liability to the Trust or its shareholders, it is finally adjudicated that the Indemnified Parties engaged in willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in their offices, or unless with respect to any other matter it is finally adjudicated that the Indemnified Parties did not act in good faith in the reasonable belief that their actions were in the best interests of the Trust. In case of settlement, such indemnification will not be provided unless it has been determined by a court or other body approving the settlement or other disposition, or by a reasonable determination, based upon a review of readily available facts, by vote of a majority of Disinterested Trustees or in a written opinion of independent counsel, that such Indemnified Parties have not engaged in willful misfeasance, bad faith, gross negligence, or reckless disregard of their duties.

#### Control Persons and Principal Holders of Securities
**Management Ownership***.* As of October 31, 2025, to the best of the Funds' knowledge, all Trustees and officers of the Trust, as a group, owned in the aggregate less than one percent (1%) of the outstanding shares of each **Domini Impact Equity Fund**, **Domini Impact International Equity Fund, Domini Sustainable Solutions Fund,** and **Domini Impact Bond Fund**, or any class of shares of each such Fund.

**Control Persons.** Persons or organizations that own beneficially 25% or more of the outstanding shares of a Fund may be presumed to "control" (as that term is defined in the 1940 Act) a Fund. As a result, these persons or organizations could have the ability to approve or reject those matters submitted to the shareholders of such Fund for their approval. As of October 31, 2025, the Funds have no knowledge of any owners of record or beneficial owners of 25% or more of any of the outstanding shares of the Funds.

#### Principal Holders.
As of October 31, 2025, to the knowledge of the Funds, the following shareholders of record owned 5% or more of the outstanding shares of a class of the **Equity Fund**:

*Investor Shares* 

National Financial Services Corp., For the Exclusive Benefit of Customers, Attn: Mutual Funds Dept 4th Fl, 499 Washington Blvd, Jersey City, NJ 07310-2010 (11.15%); and Charles Schwab & Co. Inc., Reinvest Account, Attn: Mutual Funds Dept, 101 Montgomery St., San Francisco, CA 94104-4122 (9.06%).

*Institutional Shares* 

Cynthia A Wayburn TTEE, Cynthia A Wayburn Trust U/A DTD 12/19/1996, PO Box 3725, Bellevue, WA 98009-3725 (25.08%); John Hancock Life Insurance Company of USA, RPS-Trading Ops ET-4, 601 Congress St, Boston, MA 02210-2805 (18.50%); William M. Roush, 710 Castle Creek Drive, Aspen, CO 81611-1138 (12.07%); and Molly James Roush, 1411 Wynkoop Street, Apt. 905, Denver, CO 80202-000 (8.66%).

------

*Class Y Shares* 

Charles Schwab & Co. Inc., Special Custody Account for the Benefit of Customers, Attn: Mutual Funds Dept, 101 Montgomery St., San Francisco, CA 94104-4122 (32.575%); Raymond James/Omnibus for Mutual Funds House Acct Firm 92500015, Attn Courtney Waller, 880 Carillon Parkway, St. Petersburg, FL 33716 (19.44%); Empower Trust FBO Employee Benefit Clients 401K, 8515 E Orchard Rd, 2T2, Greenwood Village, CO 80111 (15.30%); National Financial Services Corp., For the Exclusive Benefit of Customers, Attn: Mutual Funds Dept 4th Fl, 499 Washington Blvd, Jersey City, NJ 07310-2010 (14.34%); and LPL Financial, FBO Customer Accounts, Attn: Mutual Fund Operations, 4707 Executive Drive, San Diego, CA 92121-3091 (11.03%).

The Equity Fund has no knowledge of any other owners of record or beneficial owners of 5% or more of any class of the outstanding shares of that Fund.

As of October 31, 2025, to the knowledge of the Funds, the following shareholders of record owned 5% or more of the outstanding shares of a class of the **Sustainable Solutions Fund**:

*Investor Shares* 

Charles Schwab & Co. Inc., Special Custody Account for the Benefit of Customers, Attn: Mutual Funds Dept, 101 Montgomery St., San Francisco, CA 94104-4122 (22.32%); and National Financial Services LLC, for the Exclusive Benefit of Customers, Attn. Mutual Fund Dept, 4th Floor, 499 Washington Blvd, Jersey City, NJ 07310-2010 (5.79%).

*Institutional Shares* 

National Financial Services LLC, for the exclusive benefit of customers, Attn. Mutual Fund Dept, 4th Floor, 499 Washington Blvd, Jersey City, NJ 07310-2010 (64.55%) and Linda Jean Stork, 12 Park Blvd., New Brunswick, NJ 08901 (24.64%).

The Sustainable Solutions Fund has no knowledge of any other owners of record or beneficial owners of 5% or more of any class of the outstanding shares of that Fund.

As of October 31, 2025, to the knowledge of the Funds, the following shareholders of record owned 5% or more of the outstanding shares of a class of the **International Equity Fund**:

*Investor Shares* 

Charles Schwab & Co. Inc., Reinvest Acc, Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104 (24.28%).

*Institutional Shares* 

Charles Schwab & Co. Inc., Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104-4122 (19.08%); National Financial Services LLC for the Exclusive Benefit of Our Customer, Attn: Mutual Funds Dept. 4th Fl, 499 Washington Blvd., Jersey City, NJ 07310-2010 (16. 61%); Wells Fargo Clearing Services LLC, Special Custody Acct for the exclusive benefit of customer, 2801Market Street, St. Louis, MO 63103 (10. 59%); SEI Private Trust Company, c/o M&T ID 337, Attn Mutual Fund Admin, One Freedom Valley Drive, Oaks, PA 19456 (9.76%); Wells Fargo NA, FBO Omnibus Account Cash, PO Box 1533, Minneapolis, MN 55480 (6.59%); Charles Schwab & Co. Inc., Special Custody Account for the Benefit of Customers, Attn: Mutual Funds, 211 Main Street, San Francisco, CA 94105 (6.30%); and JP Morgan Securities LLC omnibus account for the exclusive benefit of customers, 4 Chase Metrotech Center, 3rd Floor Mutual Fund Department, Brooklyn, NY 11245 (5.32%).

*Class Y Shares* 

Morgan Stanley Smith Barney LLC for the Exclusive Benefit of its Customers, 1 New York Plaza, Floor 12, New York, NY 1004-1901 (46.49%); Charles Schwab & Co. Inc Special Custody Acc FBO Customers, Attn: Mutual Funds, 211 Main St, San Francisco, CA 94105 (26.52%); Merrill Lynch Pierce Fenner & Smith Inc., For the Sole Benefit of its Customers, (7.25%); Raymond James/Omnibus For Mutual Funds House Acct Firm 92500015, Attn Courtney Waller, 880 Carillon Parkway St Petersburg, FL 33716 (5.15%); and American Enterprise Investment Svc, 707 2nd Ave South Minneapolis, MN 55402-2405 (5.13%).

The International Equity Fund has no knowledge of any other owners of record or beneficial owners of 5% or more of any class of the outstanding shares of that Fund.

As of October 31, 2025, to the knowledge of the Funds, the following shareholders of record owned 5% or more of the outstanding shares of a class of the **Bond Fund**:

*Investor Shares* 

Charles Schwab & Co. Inc., Special Custody Account for the Benefit of Customers, Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104 (30.20%); and National Financial Services, For the Exclusive Benefit of Our Customers, Attn: Mutual Funds Dept. 4th Fl., 499 Washington Blvd., Floor 4, Jersey City, NJ 07310-2010 (13.90%).

------

*Institutional Shares* 

National Financial Services, For the Exclusive Benefit of Our Customers, Attn: Mutual Funds Dept. 4th Fl., 499 Washington Blvd., Floor 4, Jersey City, NJ 07310-2010 (21.92%); Charles Schwab & Co. Inc. Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104 (20.49%); SEI Private Trust Company, C/O ID 370, One Freedom Valley Drive, Oaks, PA 19456 (18.36%); Charles Schwab & Co. Inc., Special Custody Account for the Benefit of Customers, Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104 (6.86%); and SEI Private Trust Company/C/O ID 370 Attn: Mutual Funds, One Freedom Valley Drive Oaks, PA 19456 (5.37%).

*Class Y Shares* 

Charles Schwab & Co. Inc., Special Custody Account for the Benefit of Customers, Attn: Mutual Funds, 101 Montgomery St., San Francisco, CA 94104 (77.08%); American Enterprise Investment Svc, 707 2nd Ave South Minneapolis, MN 55402-2405 (11.88%); and National Financial Services, For the Exclusive Benefit of Our Customers, Attn: Mutual Funds Dept. 4th Fl., 499 Washington Blvd., Floor 4, Jersey City, NJ 07310-2010 (5.40%).

The Bond Fund has no knowledge of any other owners of record or beneficial owners of 5% or more of any class of the outstanding shares of that Fund.

#### INVESTMENT ADVISER
Domini is a Massachusetts limited liability company with offices at 180 Maiden Lane, Suite 1302, New York, NY 10038, and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended (the "Advisers Act"). The names of the persons who control the adviser and the basis of the person's control are as follows: Amy Domini Thornton, Chair of Domini; Carole Laible, Chair of the Board of the Trust, President and Treasurer of the Trust, and Chief Executive Officer of Domini; Maurizio Tallini, Chief Compliance Officer and Vice President of the Trust and Chief Compliance Officer of Domini; Megan Dunphy, Chief Legal Officer, Vice President and Secretary of the Trust and General Counsel of Domini; and Danielle Thebeau, Treasurer of the Trust and Chief Financial Officer of Domini.

Domini manages the assets of the Funds pursuant to separate Management Agreements. The services provided by Domini include furnishing an investment program for the Funds. Domini will have authority to determine from time to time what securities are purchased, sold, or exchanged, and what portion of assets of each of the Funds is held uninvested. Domini will also perform such administrative and management tasks for the Funds as may from time to time be reasonably requested, including: (a) maintaining office facilities and furnishing clerical services necessary for maintaining the organization of the Funds and for performing administrative and management functions, (b) supervising the overall administration of the Funds, including negotiation of contracts and fees with, and monitoring of performance and billings of, the transfer agent, shareholder servicing agents, custodian, and other independent contractors or agents of the Funds, as applicable, (c) overseeing (with the advice of the counsel to the Funds) the preparation of and, if applicable, the filing of all documents required for compliance by the Funds with applicable laws and regulations, including registration statements, prospectuses, and statements of additional information, Semi-Annual and Annual Reports to shareholders, proxy statements, and tax returns, (d) preparing agendas and supporting documents for, and minutes of meetings of, the Trustees, committees of the Trustees, and shareholders, (e) arranging for maintenance of the books and records of the Funds, (f) maintaining telephone coverage to respond to investor and shareholder inquiries; and (g) answering questions from the general public, the media, and shareholders of the Funds regarding the securities holdings of the Funds, limits on investment, and the Funds' proxy voting philosophy and shareholder activism philosophy. Domini provides persons satisfactory to the Board of Trustees of the Trust to serve as officers of the Trust, as applicable. Such officers, as well as certain other employees and Trustees of the Trust, may be directors, officers, or employees of Domini or its affiliates. Domini furnishes at its own expense all facilities and personnel necessary in connection with providing these services.

Unless otherwise terminated, the Management Agreement for each Fund will continue in effect if such continuance is specifically approved at least annually by the Board of Trustees or by a majority of the outstanding voting securities of the applicable Fund at a meeting called for the purpose of voting on such Management Agreement (with the vote of each investor in the applicable Fund being in proportion to the amount of its investment), and, in either case, by a majority of the Trustees who are not parties to such Management Agreement or interested persons of any such party at a meeting called for the purpose of voting on such Management Agreement.

Each Management Agreement provides that Domini may render services to others. Domini may employ, at its own expense, or may request that the Funds, as applicable, employ (subject to the requirements of the 1940 Act) one or more subadvisers, subject to Domini's supervision. Each Management Agreement is terminable without penalty on not more than 60 days' nor less than 30 days' written notice by the Funds, as applicable, when authorized either by a majority vote of the outstanding voting securities of the Funds, as applicable, or by a vote of a majority of the Board of Trustees of the Trust, as applicable, or by Domini, and will automatically terminate in the event of its assignment. Each Management Agreement provides that neither Domini nor its personnel shall be liable

------

for any error of judgment or mistake of law or for any loss arising out of any investment or for any act or omission in its services to the Funds, as applicable, except for willful misfeasance, bad faith, or gross negligence or reckless disregard of its or their obligations and duties under such Management Agreement.

The investment management fee rates payable by each Fund to Domini are set forth in the following table:

---

| | |
|:---|:---|
| **Fund** | **Annual Fee Rate Based on Average Daily Net Asset Value** |
| &nbsp;&nbsp; Domini Impact Equity Fund | 0.20% of the first $2 billion of net assets managed,<br> 0.19% of the next $1 billion of net assets managed,<br> and 0.18% of net assets managed in excess of $3 billion |
| &nbsp;&nbsp; Domini Sustainable Solutions Fund | 0.85% of the first $500 million of net assets managed, |
|  | 0.83% of the next $500 million of net assets managed, and<br>|
|  | 0.80% of net assets managed in excess of $1 billion |
| &nbsp;&nbsp; Domini Impact International Equity Fund | 0.94% of the first $250 million of net assets managed,<br>|
|  | 0.83% of the next $250 million of net assets managed,<br>|
|  | 0.75% of the next $250 million of net assets managed,<br>|
|  | 0.73% of the next $250 million of net assets managed, and<br>|
|  | 0.70% of net assets managed in excess of $1 billion |
| &nbsp;&nbsp; Domini Impact Bond Fund | 0.33% of the first $50 million of net assets managed,<br>|
|  | 0.32% of the next $50 million of net assets managed, and<br>|
|  | 0.315% of net assets managed in excess of $100 million |

---

From August 1, 2020, through July 31, 2024, Domini received fees at the following rates with respect to Domini Impact International Equity Fund: 0.96% of the first $250 million of net assets managed, 0.88% of the next $250 million, and 0.785% of net assets managed in excess of $500 million. From May 1, 2017, through July 31, 2020, Domini received fees at the following rates: 0.97% of the first $250 million of net assets managed, 0.92% of the next $250 million, and 0.855% of the next $500 million of net assets managed, and 0.83% of net assets managed in excess of $1 billion.

#### Advisory Fees Paid by Each Fund
For the last three fiscal years, the Funds paid the total amounts, as reflected in the table below, for investment management services:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Fund** | **2025** | **2024** | **2023** |
| &nbsp;&nbsp;&nbsp;Equity Fund | 2205640 | 2000279 | 1746925 |
| &nbsp;&nbsp;&nbsp;Sustainable Solutions Fund | 307931 | 286956 | 251069 |
| &nbsp;&nbsp;&nbsp;International Equity Fund | 6910414 | 6921818 | 8326017 |
| &nbsp;&nbsp;&nbsp;Bond Fund | 1387165 | 726278 | 716318 |

---

------

#### Expense Reimbursement
For the last three fiscal years, Domini waived fees and reimbursed the Funds, as reflected in the table below, under the applicable expense reimbursement agreement:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Fund** | **2025** | **2025** | **2024** | **2024** | **2023** | **2023** |
|  | Expenses<br> Reimbursed | Fees<br> Waived | Expenses<br> Reimbursed | Fees<br> Waived | Expenses<br> Reimbursed | Fees<br> Waived |
| &nbsp;&nbsp;&nbsp; Equity Fund<br>| 27825 |  | 30520 |  | 14339 |  |
| &nbsp;&nbsp;&nbsp; Sustainable Solutions Fund<br>| 139459 |  | 151161 |  | 116121 |  |
| &nbsp;&nbsp;&nbsp; International Equity Fund<br>| —  | —  | 11863 |  |  |  |
| &nbsp;&nbsp;&nbsp; Bond Fund<br>| 354703 |  | 395474 |  | 373503 |  |

---

With respect to the **Equity Fund**, Domini has contractually agreed to reduce its fees to the extent necessary to keep the annual operating expenses of the Equity Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and reimbursements, at no greater than 1.09%, 0.74%, and 0.80%, of the average daily net assets of the Investor, Institutional, and Class Y shares of the Equity Fund, respectively. This agreement will continue until November 30, 2026, and cannot be modified before that date without the mutual agreement of the Trust's board of trustees and the Adviser.

With respect to the **Sustainable Solutions Fund**, effective November 30, 2025**,** Domini has contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses of the Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), in order to limit Investor and Institutional share annual operating expenses to 1.30% and 1.05% of the average daily net assets of each class, net of waivers and reimbursements, respectively. This agreement will continue until November 30, 2026, and cannot be modified before that date without the mutual agreement of the Trust's board of trustees and the Adviser. Prior to November 30, 2025, Domini contractually agreed to waive certain fees and/or reimburse certain ordinary operating expenses of the Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), in order to limit Investor and Institutional share annual operating expenses to 1.40% and 1.15% of the average daily net assets of each class, net of waivers and reimbursements, respectively.

With respect to the **International Equity Fund**, Domini has contractually agreed to reduce its fees to the extent necessary to keep the annual operating expenses of the International Equity Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and reimbursements, at no greater than 1.12% of the average daily net assets of the Class Y shares of the International Equity Fund. This agreement will continue until November 30, 2026 with respect to Class Y shares and cannot be modified before that date without the mutual agreement of the Trust's board of trustees and the Adviser.

With respect to the **Bond Fund**, Domini has contractually agreed to reduce its fees to the extent necessary to keep the annual operating expenses of the Bond Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and reimbursements, at no greater than 0.87%, 0.57%, and 0.65% of the average daily net assets of the Investor, Institutional and Class Y shares of the Bond Fund, respectively. This agreement will continue until November 30, 2026 and cannot be modified before that date without the mutual agreement of the Trust's board of trustees and the Adviser.

There can be no assurance that the above fee waivers or expense limitations will continue beyond the dates indicated.

#### Expense Offset Arrangement
Any credits realized as a result of uninvested cash balances are used to reduce the Funds' transfer agent expenses. Such realized credits reduce Other Expenses and the Adviser's obligation under the contractual expenses limitation.

For the fiscal years ended July 31, 2025, 2024, and 2023, there were no expense offset arrangements in effect and no credits were realized by the Equity Fund.

For the fiscal year ended July 31, 2025, 2024, and 2023, there were no expense offset arrangements in effect and no credits were realized by the Sustainable Solutions Fund.

------

For the fiscal years ended July 31, 2025, 2024, and 2023, there were no expense offset arrangements in effect and no credits were realized by the International Equity Fund.

For the fiscal years ended July 31, 2025, 2024, and 2023, there were no expense offset arrangements in effect and no credits were realized by the Bond Fund.

#### Additional Information about Domini Portfolio Managers of the Equity Fund and Sustainable Solutions Fund
As of July 31, 2025, Ms. Domini had day-to-day management responsibilities for the assets of: (i) 2 registered investment companies with approximately $1.17 billion in assets under management; (ii) no other pooled investment vehicles, and (iii) 4 other accounts with approximately $4.0 million in assets under management. There are no performance-based fees associated with these accounts.

As of July 31, 2025, Ms. Laible had day-to-day management responsibilities for the assets of: (i) 2 registered investment companies with approximately $1.17 billion in assets under management, (ii) no other pooled investment vehicles, and (iii) no other accounts. There are no performance-based fees associated with these accounts.

As of July 31, 2025, Ms. Llerena had day-to-day management responsibilities for the assets of: (i) 0 registered investment companies, (ii) no other pooled investment vehicles, and (iii) no other accounts. There are no performance-based fees associated with these accounts.

#### Potential Conflicts of Interest
Material conflicts of interest may arise when a Fund's portfolio managers also has day-to-day management responsibilities with respect to one or more other funds or other accounts. These potential conflicts include:

*Allocation of Limited Time and Attention.* A portfolio manager who is responsible for managing multiple funds and/or accounts may devote unequal time and attention to the management of those funds and/or accounts. As a result, the portfolio manager may not be able to formulate as complete a strategy or identify equally attractive investment opportunities for each of those accounts as might be the case if he or she were to devote substantially more attention to the management of a single fund. The effects of this potential conflict may be more pronounced where funds and/or accounts overseen by a particular portfolio manager have different investment strategies.

Domini seeks to manage such competing interests for time and attention of portfolio managers by having portfolio managers focus on the application of Domini's proprietary impact investment standards. Domini also maintains a Code of Ethics to detect and prevent activities of employees that would result in a breach of the portfolio managers' fiduciary duties to a Fund.

*Allocation of Limited Investment Opportunities.* If a portfolio manager identifies a limited investment opportunity that may be suitable for multiple funds and/or accounts, the opportunity may need to be divided among those funds or accounts, which may limit a Fund's ability to take full advantage of the investment opportunity. To deal with these situations, Domini has adopted a trade allocation procedure. Generally, the decision on when to purchase or sell securities for Domini's Fund clients are made by the Subadviser's portfolio manager who is appointed and supervised by the Subadviser's senior officers rather than Domini.

*Pursuit of Differing Strategies.* Investment decisions for a Fund and Domini's other clients are made with a view to achieving their respective investment objectives. At times, a portfolio manager may determine that an investment opportunity may be appropriate for only some of the funds and/or accounts for which he or she exercises investment responsibility, or may decide that certain of the funds and/or accounts should take differing positions with respect to a particular security. In these cases, the portfolio manager may place separate transactions for one or more funds or accounts which may affect the market price of the security or the execution of the transaction, or both, to the detriment or benefit of one or more other funds and/or accounts. In the event that Domini removes a security from a Fund's Approved Securities List or other investment instruction list and the approved list for other clients, Domini shall notify the portfolio manager of such removal. If the security that is the subject of the removal is held by both fund and non-fund clients, Domini shall coordinate with the Fund's Subadviser to establish the trading parameters and trade date for such security in order to endeavor to treat all client accounts fairly. Domini does not generally initiate purchases or sales of securities for its Fund clients, but delegates daily responsibility for effecting fund-related trades to the Subadviser.

*Variation in Compensation.* A conflict of interest may arise where the management fee structure differs among funds and/or accounts, such as where certain funds or accounts pay higher management fees or performance-based management fees. In such cases, the portfolio manager might be motivated to devote more attention to, or otherwise favor, more profitable funds and/or accounts. To help address these types of conflicts, Domini has established a compensation system that is identical regardless of whether an employee

------

supports a fund or non-fund client. Furthermore, each individual's compensation at Domini is based on individual performance and company profitability rather than the performance of a particular fund or account.

*Proprietary Investments.* Domini may have substantial personal or proprietary investments in some of the accounts managed by a portfolio manager. A portfolio manager might be motivated to favor funds and/or accounts in which he or she, or his or her colleagues, has an interest or in which Domini has interests. However, each Domini portfolio manager is subject to Domini's Code of Ethics policy governing personal securities transactions in which portfolio managers engage.

*Other Factors.* Several other factors, including the desire to maintain or increase assets under the Domini's management or to enhance the portfolio manager's performance record or to derive other rewards, financial or otherwise, could influence the portfolio manager in affording preferential treatment to some funds and/or accounts. To help address these types of conflicts, Domini has adopted a Code of Ethics.

As discussed above, Domini has adopted compliance policies and procedures that are designed to address various conflicts of interest that may arise for Domini and the individuals that it employs. However, there is no guarantee that the policies and procedures adopted by Domini will be able to detect and/or prevent every situation in which an actual or potential conflict may appear.

#### Compensation of Domini Portfolio Managers and Ownership of Fund Shares
Domini employees are paid a base salary plus an annual bonus at Domini's discretion, based on company profitability and each individual's job performance. Compensation levels and bonuses are reviewed annually and are adjusted based on overall company performance and each individual's level of service and contribution. Domini personnel are not compensated based on Fund or portfolio performance. Domini seeks to attract and retain superior individuals through competitive salaries and benefits and through our global reputation as a leader in the field.

The following table indicates as of July 31, 2025 the value, within the indicated range, of shares of the Equity Fund and Sustainable Solutions Fund beneficially owned by Ms. Domini, Ms. Laible, and Ms. Llerena:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Name of Portfolio**<br> **Manager** | **Beneficial Ownership of the** <br> **Equity Fund**  | **Beneficial Ownership of the**<br> **Sustainable Solutions Fund** |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amy Domini Thornton | over $1,000,000 | $100001-$500000 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carole M. Laible | $500001-$1000000 | $100001-$500000 |
| &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maria Llerena | $0-$10000 | $0-$10000 |

---

#### SUBADVISERS
The Funds may use one or more subadvisers who are responsible for the day-to-day management of the Fund's investments, subject to the oversight of the Adviser. The subadvisers are paid out of the fees paid to the Adviser. The Fund has no responsibility to pay any fee to a subadviser.

The Funds employ a "manager of managers" structure. In this regard, the Funds have received an exemptive order from the SEC (Release No. IC-30035) that permits the Adviser, without shareholder approval, to enter into and materially amend any submanagement agreement upon approval of the Board of Trustees. The exemptive order permits the Funds to disclose the aggregate subadvisory fee paid to unaffiliated subadvisers on behalf of each Fund instead of disclosing the specific fee paid to each subadviser. The SEC order is subject to certain conditions. For example, within ninety days of the hiring of any new subadviser, shareholders will be furnished with information that would be included in a proxy statement regarding the new subadviser. Moreover, the Adviser will not enter into a submanagement agreement with any affiliated subadviser without shareholder approval. The Adviser has ultimate responsibility (subject to Board oversight) to oversee the subadvisers and to recommend their hiring, termination, and replacement.

Each Submanagement Agreement provides that the applicable subadviser may render services to others. Each Submanagement Agreement is terminable without penalty upon not more than 60 days' nor less than 30 days' written notice by a Stock Fund, or the Bond Fund, as the case may be, when authorized either by majority vote of the outstanding voting securities in the Stock Fund (with the vote of each being in proportion to the amount of their investment), or the Bond Fund, as applicable, or by a vote of the majority of the appropriate Board of Trustees, or by Domini with the consent of the Trustees, and may be terminated by the applicable subadviser on not less than 90 days' written notice to Domini and the Trustees, and will automatically terminate in the event of its assignment. Each Submanagement Agreement provides that the applicable subadviser shall not be liable for any error of judgment or mistake of

------

law or for any loss arising out of any investment or for any act or omission in its services to a Stock Fund, or the Bond Fund, as the case may be, except for willful misfeasance, bad faith, or gross negligence or reckless disregard for its or their obligations and duties under the Submanagement Agreement.

#### SSGA FUNDS MANAGEMENT, INC.
SSGA FM provides submanagement services with respect to the Equity Fund and Sustainable Solutions Fund pursuant to investment submanagement agreements with Domini on behalf of each Fund (the "Submanagement Agreements"). SSGA FM furnishes at its own expense all services, facilities, and personnel necessary in connection with managing each Fund's investments and effecting securities transactions for the Fund. The Submanagement Agreement with SSGA FM will continue in effect if such continuance is specifically approved within two years of its effective date, and at least annually thereafter with respect to each Fund, by the Board of Trustees or by a majority vote of the outstanding voting securities of the Fund at a meeting called for the purpose of voting on the Fund's Submanagement Agreement, and, in either case, by a majority of the Trustees who are not parties to such Submanagement Agreement or interested persons of any such party at a meeting called for the purpose of voting on such Submanagement Agreement.

SSGA FM is a wholly-owned subsidiary of State Street Global Advisors, Inc., which itself is a wholly-owned subsidiary of State Street Corporation ("State Street"), a publicly traded financial holding company organized in Massachusetts. SSGA FM is registered with the U.S. Securities and Exchange Commission ("SEC") under the Investment Advisers Act of 1940, as amended. SSGA FM and certain other advisory affiliates of State Street make up State Street Investment Management, the investment management arm of State Street. As of July 31, 2025, SSGA FM managed approximately $1.19 trillion in assets and State Street Investment Management managed approximately $5.17 trillion in assets. SSGA FM's principal business address is One Congress Street, Boston, Massachusetts 02114.

SSGA FM commenced subadvisory services for the Equity Fund on December 1, 2018. For the period from November 30, 2006, through November 30, 2018, Wellington Management Company LLP served as the Equity Fund's subadviser.

#### Additional Information about SSGA FM Portfolio Managers
Kathleen Morgan, CFA, is a Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team. In this capacity, she is responsible for the management of various equity index funds that are benchmarked to both domestic and international strategies. Ms. Morgan has been a portfolio manager of the **Domini Impact Equity Fund** since 2018 and the **Domini Sustainable Solutions Fund** since 2024. Prior to joining State Street Investment Management in 2017, Ms. Morgan worked in Equity Product Management at Wellington Management, conducting independent risk oversight and developing investment product marketing strategy. Prior experience also includes index equity portfolio management at BlackRock.

As of July 31, 2025, Ms. Morgan had day-to-day management responsibilities for the assets of: (i) 132 other registered investment companies with approximately $1.4 trillion in assets under management, (ii) 371 other pooled investment vehicles with approximately $1.1 trillion in assets under management, and (iii) 473 other accounts with a total of approximately $601.26 billion in assets under management. There are no performance-based fees associated with these accounts.

Michael Finocchi is a Vice President of State Street Investment Management and a Senior Portfolio Manager in SSGA FM's Systematic Equity Team. He is responsible for managing a wide variety of equity index and tax-efficient strategies for institutional clients and high net worth individuals. Mr. Finocchi has been a portfolio manager of the **Domini Sustainable Solutions Fund** since 2020 and the **Domini Impact Equity Fund** since 2024. Prior to assuming his current role in March 2012, Mr. Finocchi was a senior manager in Portfolio Administration responsible for the operations of funds managed by the Systematic Equity Team. Before joining State Street Investment Management in 2005, he worked for Investors Bank & Trust as a senior tax analyst following his role in custody servicing.

As of July 31, 2025, Mr. Finocchi had day-to-day management responsibilities for the assets of: (i) 132 other registered investment companies with approximately $1.4 trillion in assets under management, (ii) 371 other pooled investment vehicles with approximately $1.1 trillion in assets under management, and (iii) 473 other accounts with a total of approximately $601.26 billion in assets under management. There are no performance-based fees associated with these accounts.

#### Potential Conflicts of Interest
A Portfolio Manager that has responsibility for managing more than one account may be subject to potential conflicts of interest because he or she is responsible for other accounts in addition to the Funds. Those conflicts could include preferential treatment of one account over others in terms of: (a) the Portfolio Manager's execution of different investment strategies for various accounts; or (b) the allocation of resources or of investment opportunities.

------

Portfolio Managers may manage numerous accounts for multiple clients. These accounts may include registered investment companies, other types of pooled accounts (*e.g.*, collective investment funds), and separate accounts (*i.e.*, accounts managed on behalf of individuals or public or private institutions). Portfolio Managers make investment decisions for each account based on the investment objectives and policies and other relevant investment considerations applicable to that portfolio. A potential conflict of interest may arise as a result of a Portfolio Manager's responsibility for multiple accounts with similar investment guidelines. Under these circumstances, a potential investment may be suitable for more than one of the Portfolio Manager's accounts, but the quantity of the investment available for purchase is less than the aggregate amount the accounts would ideally allocate to the opportunity. Similar conflicts may arise when multiple accounts seek to dispose of the same investment. The Portfolio Managers may also manage accounts whose objectives and policies differ from that of the Funds. These differences may be such that under certain circumstances, trading activity appropriate for one account managed by the Portfolio Manager may have adverse consequences for another account managed by the Portfolio Manager. For example, an account may sell a significant position in a security, which could cause the market price of that security to decrease, while a Fund maintained its position in that security.

A potential conflict may arise when the Portfolio Managers are responsible for accounts that have different advisory fees—the difference in fees could create an incentive for the Portfolio Manager to favor one account over another, for example, in terms of access to investment opportunities. This conflict may be heightened if an account is subject to a performance-based fee, as applicable. Another potential conflict may arise when the Portfolio Manager has a personal investment in one or more accounts that participate in transactions with other accounts. His or her personal investment(s) may create an incentive for the Portfolio Manager to favor one account over another. SSGA FM has adopted policies and procedures reasonably designed to address these potential material conflicts. For instance, Portfolio Managers are normally responsible for all accounts within a certain investment discipline, and do not, absent special circumstances, differentiate among the various accounts when allocating resources. Additionally, SSGA FM and its advisory affiliates have processes and procedures for allocating investment opportunities among portfolios that are designed to provide a fair and equitable allocation. With respect to conflicts arising from personal investments, all employees, including Portfolio Managers, must comply with personal trading controls mandated by a Code of Ethics established by SSGA FM's and the registrants for which SSGA FM serves as the investment adviser.

#### Compensation of SSGA FM Portfolio Manager and Ownership of Fund Shares
SSGA FM and its affiliates (together, "State Street Investment Management") culture is complemented and reinforced by a total rewards strategy that is based on a pay for performance philosophy which seeks to offer a competitive pay mix of base salary, benefits, cash incentives and deferred compensation.

Salary is based on a number of factors, including external benchmarking data and market trends, and performance both at the business and individual level. State Street Investment Management's Global Human Resources department regularly participates in compensation surveys in order to provide State Street Investment Management with market-based compensation information that helps support individual pay decisions.

Additionally, subject to State Street Corporation and State Street Investment Management business results, an incentive pool is allocated to State Street Investment Management to reward its employees. The size of the incentive pool for most business units is based on the firm's overall profitability and other factors, including performance against risk-related goals. For most State Street Investment Management investment teams, State Street Investment Management recognizes and rewards performance by linking annual incentive decisions for investment teams to the firm's or business unit's profitability and business unit investment performance over a multi-year period.

Incentive pool funding for most active investment teams is driven in part by the post-tax investment performance of fund(s) managed by the team versus the return levels of the benchmark index(es) of the fund(s) on a one-, three- and, in some cases, five-year basis. For most active investment teams, a material portion of incentive compensation for senior staff is deferred over a four-year period into the State Street Investment Management Long-Term Incentive ("State Street Investment Management LTI") program. For these teams, the State Street Investment Management LTI program indexes the performance of these deferred awards against the post-tax investment performance of fund(s) managed by the team. This is intended to align our investment team's compensation with client interests, both through annual incentive compensation awards and through the long-term value of deferred awards in the State Street Investment Management LTI program.

For the index equity investment team, incentive pool funding is driven in part by the post-tax 1 and 3-year tracking error of the funds managed by the team against the benchmark indexes of the funds.

The discretionary allocation of the incentive pool to the business units within State Street Investment Management is influenced by market-based compensation data, as well as the overall performance of each business unit. Individual compensation decisions are

------

made by the employee's manager, in conjunction with the senior management of the employee's business unit. These decisions are based on the overall performance of the employee and, as mentioned above, on the performance of the firm and business unit. Depending on the job level, a portion of the annual incentive may be awarded in deferred compensation, which may include cash and/or Deferred Stock Awards (State Street Corporation stock), which typically vest over a four-year period. This helps to retain staff and further aligns State Street Investment Management employees' interests with State Street Investment Management clients' and shareholders' long-term interests.

State Street Investment Management recognizes and rewards outstanding performance by:

• Promoting employee ownership to connect employees directly to the company's success .

• Using rewards to reinforce mission, vision, values and business strategy .

• Seeking to recognize and preserve the firm's unique culture and team orientation .

• Providing all employees the opportunity to share in the success of State Street Investment Management.

As of July 31, 2025, Ms. Morgan did not own any equity securities of the Equity Fund and Sustainable Solutions Fund.

As of July 31, 2025, Mr. Finocchi did not own any equity securities of the Equity Fund and Sustainable Solutions Fund.

#### WELLINGTON MANAGEMENT COMPANY LLP
Wellington Management Company LLP ("Wellington Management") submanages the assets of the International Equity Fund and Bond Fund pursuant to investment submanagement agreements with Domini on behalf of each Fund, respectively (each a "Submanagement Agreement"). Wellington Management furnishes at its own expense all services, facilities, and personnel necessary in connection with managing each of the above-referenced Fund's investments and effecting securities transactions for each Fund. The Submanagement Agreements with Wellington Management will continue in effect if such continuance is specifically approved by April 30, 2019, and at least annually thereafter with respect to each Fund, by the Board of Trustees or by a majority vote of the outstanding voting securities of the applicable Fund at a meeting called for the purpose of voting on such Fund's Submanagement Agreement (with the vote of each being in proportion to the amount of its investment), and, in either case, by a majority of the Trustees who are not parties to such Submanagement Agreement or interested persons of any such party at a meeting called for the purpose of voting on such Submanagement Agreement.

Wellington Management is a Delaware limited liability partnership with principal offices at 280 Congress Street, Boston, Massachusetts 02210. Wellington Management is a professional investment counseling firm which provides investment services to investment companies, employee benefit plans, endowments, foundations, and other institutions. Wellington Management and its predecessor organizations have provided investment advisory services for over 80 years. Wellington Management is owned by the partners of Wellington Management Group LLP, a Massachusetts limited liability partnership. As of July 31, 2025, Wellington Management had investment management authority with respect to approximately $1.292 trillion in assets.

#### Additional Information about Wellington Management Portfolio Managers
The International Equity Fund is submanaged by a team of investment professionals from the quantitative management group at Wellington Management. The Bond Fund is submanaged by a team of investment professionals from the US broad market team at Wellington Management. The following information regarding each investment professional's compensation, other accounts, and ownership of Fund shares has been provided by Wellington Management.

Mark A. Yarger, CFA, Managing Director and Associate Director of Portfolio Management, Quantitative Investment Group of Wellington Management, has been an investment professional with Wellington Management since 2000 and a member of the Quantitative Investment Group since 2005. He has served as a portfolio manager responsible for the International Equity Fund since February 2024.

As of July 31, 2025, Mr. Yarger had day-to-day management responsibilities for the assets of: (i) 2 other registered investment companies with approximately $532.5 million in assets under management, (ii) 15 other pooled investment vehicles with approximately $1.76 billion in assets under management, and (iii) 12 other accounts with approximately $3.7 billion in assets under management. The advisory fee for three of these accounts (with approximately $1.77 billion in aggregate assets) is based upon performance.

------

Christopher Grohe, CFA, Senior Managing Director, Director of the Quantitative Investments Group of Wellington Management, has been an investment professional with Wellington since 2002 and a member of the quantitative group supporting the Domini Funds since 2005. He has served as a portfolio manager responsible for the International Equity Fund since November 2021.

As of July 31, 2025, Mr. Grohe had day-to-day management responsibilities for the assets of: (i) 2 other registered investment companies with approximately $532.5 million in assets under management, (ii) 15 other pooled investment vehicles with approximately $1.76 billion in assets under management, and (iii)12 other accounts with approximately $3.7 billion in assets under management. The advisory fee for three of these accounts (with approximately $1.77 billion in aggregate assets) is based upon performance.

Campe Goodman, CFA, Senior Managing Director, and Fixed Income Portfolio Manager of Wellington Management, joined Wellington Management in 2000 and has served as the portfolio manager responsible for the Bond Fund since January 7, 2015.

As of July 31, 2025, Mr. Goodman had day-to-day management responsibilities for the assets of: (i) 16 other registered investment companies with approximately $15.94 billion in assets under management, (ii) 11 other pooled investment vehicles with approximately $6.17 billion in assets under management, and (iii) 38 other accounts with a total of approximately $17.74 billion in assets under management. The advisory fee for two of these accounts (with approximately $1.83 billion in aggregate assets) is based upon performance.

Samuel Epee-Bounya, Senior Managing Director and Portfolio Manager on the Broad Markets Team of Wellington Management joined Wellington Management in 2010 and has served as a portfolio manager responsible for the Bond Fund since November 30, 2024.

As of July 31, 2025, Mr. Epee-Bounya did not have day-to-day management responsibilities for one other pooled investment vehicle with approximately $196 million in assets under management and no other registered investment companies or accounts.

Robert D. Burn, CFA, Senior Managing Director and Fixed Income Portfolio Manager on the Broad Markets Team of Wellington Management joined Wellington Management in 2007 and has served as a portfolio manager responsible for the Bond Fund since November 30, 2024.

As of July 31, 2025, Mr. Burn had day-to-day management responsibilities for the assets of: (i) 16 registered investment companies with approximately $15.9 billion in assets under management, (ii) 7other pooled investment vehicles with approximately $2.83 billion in assets under management, and (iii) 36 other accounts with a total of approximately $17.4 billion in assets under management. The advisory fee for two of these accounts (with approximately $1.33 billion in aggregate assets) is based upon performance.

#### Potential Conflicts of Interest
Individual investment professionals at Wellington Management manage multiple accounts for multiple clients. These accounts may include mutual funds, separate accounts (assets managed on behalf of institutions, such as pension funds, insurance companies, foundations, or separately managed account programs sponsored by financial intermediaries), bank common trust accounts, and hedge funds. Each Fund's portfolio manager listed in the prospectus who is primarily responsible for the day-to-day management of the relevant Fund ("Portfolio Managers") generally manages accounts in several different investment styles. These accounts may have investment objectives, strategies, time horizons, tax considerations and risk profiles that differ from those of the Funds. The Portfolio Managers make investment decisions for each account, including the relevant Fund, based on the investment objectives, policies, practices, benchmarks, cash flows, tax and other relevant investment considerations applicable to that account. Consequently, the Portfolio Managers may purchase or sell securities, including IPOs, for one account and not another account, and the performance of securities purchased for one account may vary from the performance of securities purchased for other accounts. Alternatively, these accounts may be managed in a similar fashion to the relevant Fund and thus the accounts may have similar, and in some cases nearly identical, objectives, strategies and/or holdings to that of the relevant Fund.

A Portfolio Manager or other investment professionals at Wellington Management may place transactions on behalf of other accounts that are directly or indirectly contrary to investment decisions made on behalf of the relevant Fund, or make investment decisions that are similar to those made for the relevant Fund, both of which have the potential to adversely impact the relevant Fund depending on market conditions. For example, an investment professional may purchase a security in one account while appropriately selling that same security in another account. Similarly, a Portfolio Manager may purchase the same security for the relevant Fund and one or more other accounts at or about the same time. In those instances, the other accounts will have access to their respective holdings prior to the public disclosure of the relevant Fund's holdings. Also, investment professionals at Wellington Management may make investments in different parts of an issuer's capital structure such as acquiring a loan of a particular borrower in one account while making an equity investment in that same borrower on behalf of another account. In addition, some of these accounts have fee structures, including performance fees, which are or have the potential to be higher, in some cases significantly higher, than the fees Wellington Management receives for managing the Funds. Messrs. Yarger, Grohe, Goodman, and Burn also manage accounts which

------

pay performance allocations to Wellington Management or its affiliates. Because incentive payments paid by Wellington Management to the Portfolio Managers are tied to revenues earned by Wellington Management and, where noted, to the performance achieved by the manager in each account, the incentives associated with any given account may be significantly higher or lower than those associated with other accounts managed by a given Portfolio Manager. Finally, the Portfolio Managers may hold shares or investments in the other pooled investment vehicles and/or other accounts identified above.

Wellington Management's goal is to meet its fiduciary obligation to treat all clients fairly and provide high quality investment services to all of its clients. Wellington Management has adopted and implemented policies and procedures, including brokerage and trade allocation policies and procedures, which it believes address the conflicts associated with managing multiple accounts for multiple clients. In addition, Wellington Management monitors a variety of areas, including compliance with primary account guidelines, the allocation of IPOs, and compliance with the firm's Code of Ethics, and places additional investment restrictions on investment professionals who manage hedge funds and certain other accounts. Furthermore, senior investment and business personnel at Wellington Management periodically review the performance of Wellington Management's investment professionals. Although Wellington Management does not track the time an investment professional spends on a single account, Wellington Management does periodically assess whether an investment professional has adequate time and resources to effectively manage the investment professional's various client mandates.

#### Compensation of Wellington Management Portfolio Managers and Ownership of Fund Shares
Wellington Management receives a fee based on the assets under management of each Fund as set forth in the applicable Submanagement Agreement between Wellington Management and Domini with respect to each Fund. Wellington Management pays its investment professionals out of its total revenues, including the advisory fees earned with respect to each Fund. The following information relates to the fiscal year ended July 31, 2025.

Wellington Management's compensation structure is designed to attract and retain high-caliber investment professionals necessary to deliver high quality investment management services to its clients. Wellington Management's compensation of each Fund's manager listed in the prospectus who is primarily responsible for the day-to-day management of the Funds (the "Portfolio Managers") includes a base salary and incentive components. The base salary for each Portfolio Manager who is a partner (a "Partner") of Wellington Management Group LLP, the ultimate holding company of Wellington Management, is generally a fixed amount determined by the managing partners of Wellington Management Group LLP. The base salaries for the other Portfolio Managers are determined by the Portfolio Managers' experience and performance in their roles as Portfolio Managers. Base salaries for Wellington Management's employees are reviewed annually and may be adjusted based on the recommendation of a Portfolio Manager's manager, using guidelines established by Wellington Management's Compensation Committee, which has final oversight responsibility for base salaries of employees of the firm. Each Portfolio Manager is eligible to receive an incentive payment based on the revenues earned by Wellington Management from the Fund managed by the Portfolio Manager and generally each other account managed by such Portfolio Manager. Each Portfolio Manager's incentive payment relating to the relevant Fund is linked to the gross pre-tax performance of the portion of the Fund managed by the Portfolio Manager compared to the benchmark index and/or peer group identified below over one, three and five- year periods, with an emphasis on five-year results. Wellington Management applies similar incentive compensation structures (although the benchmarks or peer groups, time periods, and rates may differ) to other accounts managed by the Portfolio Managers, including accounts with performance fees.

Portfolio-based incentives across all accounts managed by an investment professional can, and typically do, represent a significant portion of an investment professional's overall compensation; incentive compensation varies significantly by individual and can vary significantly from year to year. The Portfolio Managers may also be eligible for bonus payments based on their overall contribution to Wellington Management's business operations. Senior management at Wellington Management may reward individuals as it deems appropriate based on other factors. Each Partner is eligible to participate in a Partner-funded tax qualified retirement plan, the contributions to which are made pursuant to an actuarial formula. Messrs. Burn, Epee-Bounya, Grohe, and Goodman are Partners.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Fund** | **Benchmark Index and/or Peer Group** |
| &nbsp;&nbsp;&nbsp; Domini Impact Bond Fund | &nbsp;&nbsp; Bloomberg U.S. Aggregate Bond |
| &nbsp;&nbsp;&nbsp; Domini Impact International Equity Fund | &nbsp;&nbsp; EAFE SRI Optimized Custom Benchmark |

---

As of July 31, 2025, Mr. Yarger did not own any equity securities of the Domini Impact International Equity Fund.

As of July 31, 2025, Mr. Grohe owned $100,001-$500,000 in equity securities of the Domini Impact International Equity Fund.

As of July 31, 2025, Mr. Goodman owned $10,001-50,000 in equity securities of the Domini Impact Bond Fund.

------

As of July 31, 2025, Mr. Epee-Bounya did not own any equity securities of the Domini Impact Bond Fund.

As of July 31, 2025, Mr. Burn did not own any equity securities of the Domini Impact Bond Fund.

#### SUB-ADVISORY FEES PAID BY EACH FUND

#### Equity Fund
For the fiscal year ended July 31, 2025, 2024, and 2023, Domini paid SSGA FM subadvisory fees with respect to the Equity Fund of $270,564, $250,028, and $224,693, respectively (0.02%, 0.02%, and 0. 03%, of the average daily net assets of the Fund, respectively).

#### Sustainable Solutions Fund
For the fiscal years ended July 31, 2025, 2024, and 2023, Domini paid SSGA FM submanagement fees with respect to the Sustainable Solutions Fund of $175,000, $175,000, and $175,000, respectively (0.48%, 0.52%, and 0.59%, of the average daily net assets of the Fund, respectively).

#### International Equity Fund
For the fiscal years ended July 31, 2025, 2024, and 2023, Domini paid Wellington Management submanagement fees with respect to the International Equity Fund of $3,212,587, $3,284,783, and $3,926,731, respectively (0.39%, 0.41%, and 0.40%, of the average daily net assets of the Fund, respectively).

#### Bond Fund
For the fiscal years ended July 31, 2025, 2024, and 2023, Domini paid Wellington Management submanagement fees with respect to the Bond Fund of $487,492, $454,780, and $448,456, respectively, (0.20%, 0.20%, and 0.20%, of the average daily net assets of the Fund, respectively).

#### SPONSOR
Pursuant to a Sponsorship Agreement with respect to the Equity Fund and an Administration Agreement with respect to the Bond Fund, Domini provides the Funds with oversight, administrative, and management services. Domini provides each Fund with general office facilities and supervises the overall administration of each Fund, including, among other responsibilities, the negotiation of contracts and fees with, and the monitoring of performance and billings of, the independent contractors and agents of each Fund; the preparation and filing of all documents required for compliance by each Fund with applicable laws and regulations, including registration statements, prospectuses, and statements of additional information, Semi-Annual and Annual Reports to shareholders, proxy statements, and tax returns; preparing agendas and supporting documents for, and minutes of meetings of, the Trustees, committees of the Trustees, and shareholders; maintaining telephone coverage to respond to shareholder inquiries; answering questions from the general public, the media, and investors in each Fund regarding the securities holdings of the Equity Fund and the Bond Fund, as applicable, limits on investment, and the Funds' proxy voting philosophy and shareholder activism philosophy; and arranging for the maintenance of books and records of each Fund. Domini provides persons satisfactory to the Board of Trustees of the Funds to serve as officers of the Funds. Such officers, as well as certain other employees and Trustees of the Funds, may be directors, officers, or employees of Domini or its affiliates.

Under the Sponsorship Agreement between Domini and the Trust on behalf of the Equity Fund, Domini receives fees for administrative and sponsorship services with respect to the Equity Fund at the following rates: 0.45% of the first $2 billion of net assets managed, 0.44% of the next $1 billion of net assets managed, and 0.43% of net assets managed in excess of $3 billion. Currently, Domini has contractually agreed to reduce its fee to the extent necessary to keep the annual operating expenses of the Equity Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and reimbursements, at no greater than 1.09%, 0.74%, and 0.80% through November 30, 2026, of the average daily net assets of the Investor, Institutional, and Class Y shares of the Equity Fund, respectively.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Equity Fund** incurred $4,962,691, $4,500,628, and $3,930,580, respectively, in sponsorship fees, after waivers.

------

Under the Administration Agreement between Domini and the Trust on behalf of the Bond Fund, Domini receives fees for administrative services with respect to the Bond Fund at the rate of 0.25% of the average daily net assets of each class of that Fund. Currently, Domini is reducing its fee to the extent necessary to keep the annual expenses of the Bond Fund (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and expenses, at no greater than 0.87%, 0.57%, and 0.65% of the average daily net assets of the Investor, Institutional, and Class Y shares of the Bond Fund, respectively.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Bond Fund** paid $609,365, $568,475, and $560,570, respectively, in administration fees, after waivers.

The Sponsorship Agreement with respect to the Equity Fund and the Administration Agreement with respect to the Bond Fund provide that Domini may render administrative services to others. The Sponsorship Agreement and the Administration Agreement also provide that neither Domini nor its personnel shall be liable for any error of judgment or mistake of law or for any act or omission in the oversight, administration, or management of a Fund or the performance of its or their duties under the Sponsorship Agreement or Administration Agreement, as applicable, except for willful misfeasance, bad faith, or gross negligence in the performance of its or their duties or by reason of the reckless disregard of its or their obligations and duties under the Sponsorship Agreement or Administration Agreement, as applicable.

#### SHAREHOLDER SERVICE AGENT
Under the Shareholder Services Agreement between Domini and the Trust, Domini receives fees for providing certain shareholder services with respect to the Funds and their shareholders. For these services Domini receives fees from each Fund paid monthly at an annual rate of $4.00 per active account. The Shareholder Services Agreement was terminated effective June 1, 2025.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Equity Fund** paid $41,058, $39,764, and $41,682, respectively, in Shareholder Service Agent fees, after waivers. For the fiscal years ended July 31, 2025, 2024, and 2023, Domini did not waive any Shareholder Service Agent fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Sustainable Solutions Fund** paid $3,204, $2,894, and $2,845, in Shareholder Service Agent fees, after waivers. For the fiscal year ended July 31, 2025, 2024, and 2023, Domini did not waive any Shareholder Service Agent fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **International Equity Fund** paid $16,188, $16,086, and $17,291, respectively in Shareholder Service Agent fees, after waivers. For the fiscal years ended July 31, 2025, 2024, and 2023, Domini did not waive any Shareholder Service Agent fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Bond Fund** paid $9,804, $9,485, and $9,804, respectively, in Shareholder Service Agent fees, after waivers. For the fiscal years ended July 31, 2025, 2024, and 2023, Domini waived Shareholder Service Agent fees totaling $112, $147, and $146.

#### DISTRIBUTOR
Each Fund has adopted a Distribution Plan with respect to its Investor shares. The Distribution Plan provides that Investor shares of a Fund may pay the Distributor a fee not to exceed 0.25% per annum of the average daily net assets of that class as compensation for distribution services provided by the Distributor in connection with the sale of these shares, not as reimbursement for specific expenses incurred. Thus, even if the Distributor's expenses exceed the fees provided for by the Distribution Plan, the Funds will not be obligated to pay more than those fees, and, if the Distributor's expenses are less than the fees paid to it, it will realize a profit. The Distributor may use such fees to pay broker-dealers, financial institutions, or other financial intermediaries as compensation in connection with the purchase, sale, or retention of Investor shares of the Funds, the advertising expenses and the expenses of printing and distributing prospectuses and reports used for sales purposes, the expenses of preparing and printing sales literature, and other distribution-related expenses.

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the **Equity Fund** accrued $2,331,203, $2,101,454, and $1,844,682, respectively, in distribution fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the **Sustainable Solutions Fund** accrued $54,808, $46,638, and $40,357, respectively, in distribution fees.

------

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the **International Equity Fund** accrued $478,511, $425,501, and $438,924, respectively, in distribution fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the **Bond Fund** accrued $282,094, $279,976, and $300,334, respectively, in distribution fees.

For the fiscal year ended July 31, 2025, payments made by Investor shares of the **Equity Fund** pursuant to the Distribution Plan were used for advertising $39,626, printing and mailing of prospectuses to other than current shareholders $10,794, compensation to dealers $769,104, communications and servicing $181,822, compensation of employees and related overhead expenses $1,050,037, and payments to the underwriter $279,820. The Distributor waived fees totaling $0.

For the fiscal year ended July 31, 2025, payments made by Investor shares of the **Sustainable Solutions Fund** pursuant to the Distribution Plan were used for payments to the underwriter $54,808. The Distributor waived fees totaling $54,808.

For the fiscal year ended July 31, 2025, payments made by Investor shares of the **International Equity Fund**, pursuant to the Distribution Plan were used for advertising $3,154, printing and mailing of prospectuses to other than current shareholders $2,638, compensation to dealers $447,294, and communications and servicing $25,425. The Distributor waived fees totaling $0.

For the fiscal year ended July 31, 2025, payments made by Investor shares of the **Bond Fund** pursuant to the Distribution Plan were used for advertising $627, printing and mailing of prospectuses to other than current shareholders $592, compensation to dealers $106,630, communication and servicing $4,350, and payments to the underwriter $169,895. The Distributor waived fees totaling $169,895.

The Distribution Plan will continue in effect indefinitely as to a class if such continuance is specifically approved at least annually by a vote of both a majority of that Fund's Trustees and a majority of the Trust's Trustees who are not "interested persons of the Fund" and who have no direct or indirect financial interest in the operation of the Distribution Plan or in any agreement related to such Plan ("Independent Trustees"). The Distributor will provide to the Trustees of each Fund a quarterly written report of amounts expended by the applicable class under the Distribution Plan and the purposes for which such expenditures were made. The Distribution Plan further provides that the selection and nomination of the Trust's Independent Trustees shall be committed to the discretion of the Independent Trustees of the Trust. The Distribution Plan may be terminated as to a class at any time by a vote of a majority of the Trust's Independent Trustees or by a vote of the shareholders of that class. The Distribution Plan may not be materially amended with respect to a class without a vote of the majority of both the Trust's Trustees and Independent Trustees. The Distributor will preserve copies of any plan, agreement, or report made pursuant to the Distribution Plan for a period of not less than six (6) years from the date of the Distribution Plan, and for the first two (2) years the Distributor will preserve such copies in an easily accessible place.

Each Fund has entered into a Distribution Agreement with the Distributor. Under the Distribution Agreement, the Distributor acts as the agent of each Fund in connection with the offering of shares of that Fund and is obligated to use its best efforts to find purchasers for shares of the Fund. The Distributor acts as the principal underwriter of shares of each Fund and bears the compensation of personnel necessary to provide such services and all costs of travel, office expenses (including rent and overhead), and equipment.

#### TRANSFER AGENT, CUSTODIAN, AND SERVICE ORGANIZATIONS
The Trust has entered into a Master Services Agreement with Ultimus Fund Solutions, LLC ("Ultimus" or the "Transfer Agent"), of 225 Pictoria Drive, Suite 450, Cincinnati, OH 45246, pursuant to which Ultimus acts as the transfer agent and provides shareholder servicing for each Fund. The Transfer Agent maintains an account for each shareholder of the Funds, performs other transfer agency functions, and acts as dividend disbursing agent for the Funds. At its discretion, Ultimus may agree to waive a portion of its fee.

Each Fund has entered into a Custodian Agreement with State Street Bank and Trust Company ("State Street" or the "Custodian"), One Congress Street, Suite 1, Boston, MA 02114, pursuant to which State Street acts as custodian for each Fund. At its discretion, State Street may agree to waive a portion of its fee.

The Custodian's responsibilities include safeguarding and controlling each Fund's cash and securities, handling the receipt and delivery of securities, determining income and collecting interest on each Fund's investments, maintaining books of original entry for portfolio and Fund accounting and other required books and accounts, and calculating the daily net asset value of shares of each Fund. Securities held by each Fund may be deposited into certain securities depositories. The Custodian does not determine the investment policies of the Funds or decide which securities the Funds will buy or sell. The Funds may, however, invest in securities of the Custodian and may deal with the Custodian as principal in securities transactions.

------

Each Fund, the distributor and/or its affiliates, may from time to time enter into agreements with various banks, trust companies, broker-dealers (other than the Distributor), or other financial organizations (collectively, "Service Organizations") to provide shareholder servicing for that Fund, such as responding to customer inquiries and providing information on their investments. Each Fund, its distributor, and/or its affiliates may pay fees to Service Organizations (which may vary depending upon the services provided) in amounts up to an annual rate of 0.25% of the daily net asset value of the shares of that Fund owned by shareholders with whom the Service Organization has a servicing relationship.

In addition, each Fund, the Fund's distributor, and/or its affiliates, may from time to time enter into agreements with Service Organizations to provide subtransfer agency, subaccounting, or administrative services for that Fund, such as providing omnibus account or transaction processing services and maintaining shareholder accounts and transaction records. Because omnibus trading offers economies for the Funds, each Fund may reimburse Service Organizations for their costs related to servicing shareholder accounts. These fees may be based upon the number or value of client positions, the levels of service provided, or be a flat fee per year per client. Not all intermediaries receive such additional compensation and the amount of compensation varies.

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the Equity Fund accrued $282,152, $232,724, and $96,533, respectively, in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, 2023, the Institutional shares of the Equity Fund accrued $4,687, $5,481, and $4,352, respectively in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, and 2023, Class Y shares of the Equity Fund accrued $21,207, $14,373, and $15,369, respectively, in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the Sustainable Solutions Fund accrued $11,544, $7,538, and $6,986, respectively, in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, and 2023, Institutional shares of the Sustainable Solutions Fund accrued $0, $0, and $0, respectively, in Service Organization fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the International Equity Fund accrued $136,882, $46,908, and $121,263, respectively, in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, and 2023, the Institutional shares of the International Equity Fund accrued $807, $379, and $119, respectively, in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, and 2023, Class Y shares of the International Equity Fund accrued $205,792, $138,155, and $110,073, respectively, in Service Organization fees.

For the fiscal years ended July 31, 2025, 2024, and 2023, Investor shares of the Bond Fund accrued $66,786, $68,662, and $72,908, respectively, in Service Organization fees. For the fiscal years ended July 31, 2025, 2024, and 2023, Institutional shares of the Bond Fund accrued $0, $0, and $318, respectively, in Service Organization Fees. For the fiscal year ended July 31, 2025, 2024, and 2023, Class Y Shares of the Bond Fund accrued $30,892, $23,723, and $17,702, in Service Organization Fees.

#### EXPENSES
The Funds are each responsible for all of their respective expenses, including the compensation of their respective Trustees who are not interested persons of a Fund; governmental fees; interest charges; taxes; membership dues in the Investment Company Institute allocable to a Fund; fees and expenses of independent registered public accounting firms, of legal counsel, and of any transfer agent, custodian, registrar, or dividend disbursing agent of a Fund; insurance premiums; and expenses of calculating the net asset value of the shares of the Funds.

Each Fund will also pay sponsorship or administrative fees payable to Domini and all expenses of distributing and redeeming shares and servicing shareholder accounts; expenses of preparing, printing, and mailing prospectuses, reports, notices, proxy statements, and reports to shareholders and to governmental offices and commissions; expenses of shareholder meetings; and expenses relating to the issuance, registration, and qualification of shares of the Fund, and the preparation, printing, and mailing of prospectuses for such purposes.

Each Fund will pay the expenses connected with the execution, recording, and settlement of security transactions, and the investment management fees payable to Domini. Each Fund also will pay the fees and expenses of its custodian for all services to the Funds, as applicable, including safekeeping of Funds and securities and maintaining required books and accounts; expenses of preparing and mailing reports to investors and to governmental offices and commissions; and expenses of meetings of investors.

#### CODES OF ETHICS
The Funds, Domini, SSGA FM, Wellington Management, and the Distributor have each adopted a Code of Ethics (collectively, the "Codes of Ethics") under Rule 17j-1 under the 1940 Act. The Codes of Ethics permit personnel subject to the Codes to invest in securities, including securities that may be purchased or held by the Funds. The Codes of Ethics can be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-202-551-8090. The Codes of Ethics are available on the EDGAR database on the SEC's Internet site at

------

*www.sec.gov*, and copies of the Codes of Ethics may be obtained, after paying a duplicating fee, by electronic request at the following email address: publicinfo@sec.gov, or by writing the SEC's Public Reference Section, Washington, DC 20549-1520.

**5.** **INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

KPMG LLP, of Two Financial Center, 60 South Street, Boston, Massachusetts, is the independent registered public accounting firm for the Funds.

**6.** **TAXATION** 

The Taxation summary provided herein is based on the provisions of the Code, applicable U.S. Treasury regulations, administrative pronouncements of the U.S. Internal Revenue Service ("IRS"), and judicial decisions in effect as of the date of this Statement of Additional Information. Those authorities may be changed, possibly retroactively, or may be subject to differing interpretations so as to result in U.S. federal income tax consequences different from those summarized herein. Shareholders and prospective investors should consult their own tax advisors concerning the potential federal, state, local, and foreign tax consequences of an investment in a Fund, with specific reference to their own tax situation.

#### TAXATION OF THE FUNDS
Federal Taxes

Each Fund is treated as a separate entity for U.S. federal income tax purposes under the Code.

Each Fund has elected to be treated and intends to qualify each year as a "regulated investment company" under Subchapter M of the Code. As a regulated investment company, a Fund will not be subject to any federal income or excise taxes on its net investment income and the net realized capital gains that it distributes to shareholders, provided that it meets certain distribution requirements imposed by the Code. If a Fund should fail to qualify for treatment as a regulated investment company in any year, that Fund would incur a regular corporate federal income tax upon its taxable income, and Fund distributions would generally be taxable as ordinary dividend income to shareholders. Under certain circumstances, a Fund may be able to cure a failure to qualify as a regulated investment company, but, in order to do so, the Fund may incur significant Fund-level taxes and may be forced to dispose of certain assets.

The Funds will be subject to a nondeductible 4% U.S. federal excise tax on a portion of their undistributed ordinary income and capital gain net income if they fail to meet certain distribution requirements. The Funds intend to make distributions in such amounts and at such times so as not to be subject to the excise tax.

Capital losses in excess of capital gains ("net capital losses") are not permitted to be deducted against a regulated investment company's net investment income. Instead, for U.S. federal income tax purposes, potentially subject to certain limitations, a Fund may carry net capital losses from any taxable year forward indefinitely to offset its capital gains in future years. To the extent subsequent capital gains are offset by such losses, they will not result in U.S. federal income tax liability to the Fund and may not be distributed as capital gains to its shareholders. Generally, a Fund may not carry forward any losses other than net capital losses.

Foreign Income Taxes

Each Fund may be subject to certain taxes, including, without limitation, taxes imposed by foreign countries with respect to its income and capital gains. If eligible, a Fund may elect, for United States federal income tax purposes, to "pass through" foreign income taxes to its shareholders. The International Equity Fund expects to qualify for and make this election, but we do not expect the Equity Fund, Sustainable Solutions Fund, or the Bond Fund to be able to pass through to shareholders foreign tax credits or deductions with respect to taxes imposed by foreign countries on those Funds' income and capital gains. A Fund generally may deduct any foreign taxes that are not passed through to its shareholders in computing its income available for distribution to shareholders to satisfy applicable tax distribution requirements.

For any year that a Fund qualifies for and makes such an election, each shareholder of the Fund will be required to include in his or her income an amount equal to his or her allocable share of such income taxes paid by the Fund to a foreign country's government, and shareholders of the Fund will be entitled, subject to certain limitations, to credit their portions of these amounts against their United States federal income tax due, if any, or to deduct their portions from their United States taxable income, if any. No deductions for foreign income taxes paid by the Fund may be claimed, however, by noncorporate shareholders (including certain foreign shareholders described below) who do not itemize deductions. In addition, shareholders will not be able to claim a foreign tax credit

------

with respect to taxes paid by the Fund unless certain holding period requirements are met. Shareholders that are exempt from tax under Section 501(a) of the Code, such as pension plans, generally will derive no benefit from this election. No deduction for such amounts will be permitted in computing a noncorporate shareholder's alternative minimum tax liability.

The United States has entered into tax treaties with many foreign countries that may entitle a Fund to a reduced rate of foreign tax or an exemption from foreign tax on such income; the Funds intend to qualify for treaty reduced rates where available. It is not possible, however, to determine a Fund's effective rate of foreign tax in advance since the amount of the Funds' assets to be invested within various countries is not known. Under certain circumstances, if a Fund receives a refund of foreign taxes paid in respect of a prior year, the value of the Fund's shares could be affected or the foreign tax credits or deductions passed through to shareholders in respect of the Fund's foreign taxes for the current year could be reduced.

State Taxes

Each Fund is organized as a series of the Trust, a Massachusetts business trust. As long as a Fund qualifies as a "regulated investment company" under the Code, it will not have to pay Massachusetts income or excise taxes.

#### TAXATION OF SHAREHOLDERS
Taxation of Distributions

Shareholders of each Fund normally will have to pay federal income taxes on the dividends and other distributions they receive from the Fund, whether the distributions are paid in cash or reinvested in additional shares. Dividends from ordinary income and any distributions from net short-term capital gains are generally taxable to shareholders as ordinary income for federal income tax purposes. Distributions of net capital gains (i.e., the excess of net long-term capital gains over net short-term capital losses) are taxable to shareholders as long-term capital gains for federal income tax purposes without regard to the length of time the shareholders have held their shares. Distributions of ordinary dividends to a Fund's noncorporate shareholders may be treated as "qualified dividend income," which is taxed at reduced rates, to the extent such distributions are derived from, and reported by a Fund as, "qualified dividend income," and provided that the recipient shareholder satisfies certain holding period requirements and refrains from making certain elections. If 95% or more of a Fund's gross income, calculated without taking into account net capital gains, represents "qualified dividend income," the Fund may report, and the Fund's noncorporate shareholders may then treat, all such income as "qualified dividend income," provided that the recipient shareholder satisfies certain holding period requirements and refrains from making certain elections. "Qualified dividend income" generally is income derived from dividends from U.S. corporations or from "qualified foreign corporations," which are corporations that are either incorporated in a U.S. possession or eligible for benefits under certain U.S. tax treaties. Distributions from a foreign corporation that is not a "qualified foreign corporation" may nevertheless be treated as distributions paid by a "qualified foreign corporation" if the applicable stock is readily tradable on an established U.S. securities market. "Passive foreign investment companies" are not "qualified foreign corporations." The Bond Fund does not expect any material portion of its distributions to be treated as qualified dividend income.

A 3.8% Medicare contribution tax generally applies to all or a portion of the net investment income of a shareholder who is an individual and not a nonresident alien for federal income tax purposes and who has adjusted gross income (subject to certain adjustments) that exceeds a threshold amount ($250,000 if married filing jointly or if considered a "surviving spouse" for federal income tax purposes, $125,000 if married filing separately, and $200,000 in other cases). This 3.8% tax also applies to all or a portion of the undistributed net investment income of certain shareholders that are estates and trusts. For these purposes, dividends, interest, and certain capital gains are generally taken into account in computing a shareholder's net investment income.

Certain tax-exempt educational institutions will be subject to an excise tax on net investment income. For these purposes, certain dividends and capital gain distributions, and certain gains from the disposition of Fund shares (among other categories of income), are generally taken into account in computing a shareholder's net investment income.

Under Section 163(j) of the Code, a taxpayer's business interest expense is generally deductible to the extent of its business interest income plus certain other amounts. If a Fund earns business interest income, it may report a portion of its dividends as "Section 163(j) interest dividends," which its shareholders may be able to treat as business interest income for purposes of Section 163(j) of the Code. A Fund's "Section 163(j) interest dividend" for a tax year will be limited to the excess of its business interest income over the sum of its business interest expense and other deductions properly allocable to its business interest income. In general, a Fund's shareholders may treat a distribution reported as a Section 163(j) interest dividend as interest income only to the extent the distribution exceeds the sum of the portions of the distribution reported as other types of tax-favored income. To be eligible to treat a Section 163(j) interest dividend as interest income, a shareholder may need to meet certain holding period requirements in respect of the shares and must not have hedged its position in the shares in certain ways.

------

Distributions by a Fund in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital to the extent of (and in reduction of) the shareholder's tax basis in its shares and any such amount in excess of that basis will be treated as gain from the sale of shares.

Any Fund dividend that is declared in October, November, or December of any calendar year, that is payable to shareholders of record in such a month, and that is paid the following January will be treated as if received by the shareholders on December 31 of the year in which the dividend is declared.

Dividends-Received Deduction

If a Fund invests in equity securities of U.S. corporations, a portion of the Fund's ordinary income dividends may be eligible for the dividends-received deduction for corporations if the recipient otherwise qualifies for that deduction with respect to its holding of Fund shares. Availability of the deduction for a particular corporate shareholder is subject to certain limitations. Since the investment income of the Bond Fund is generally derived from interest rather than dividends, no material portion of the dividends received from this Fund is expected to be eligible for the dividends-received deduction. The portion of any Fund's dividends that is derived from investments in foreign corporations will not qualify for such deduction.

"Buying a Dividend"

Any Fund distribution will have the effect of reducing the per share net asset value of shares in the Fund by the amount of the distribution. If, at the time a shareholder purchases shares of a Fund, the Fund has recognized net capital gains and has not yet distributed those capital gains or has unrealized capital gains, the shareholder may, in effect, receive a portion of the purchase price back as a taxable dividend.

Disposition of Shares

In general, any gain or loss realized upon a taxable disposition of shares of a Fund by a shareholder that holds such shares as a capital asset will be treated as long-term capital gain or loss if the shares have been held for more than 12 months and otherwise as a short-term capital gain or loss. However, any loss realized by a shareholder upon a disposition of shares in a Fund held for 6 months or less will be treated as a long-term capital loss to the extent of any amounts treated as distributions by the Fund to the shareholder of long term capital gains. Any loss realized upon a disposition of shares may be disallowed if substantially identical shares are acquired (whether through the reinvestment of dividends or otherwise) within a 61 day period beginning 30 days before and ending 30 days after the date that the shares are disposed of.

A Fund will report to the IRS the amount of sale proceeds that a shareholder receives from a sale or exchange of Fund shares. For sales or exchanges of shares acquired on or after January 1, 2012, a Fund will also report the shareholder's basis in those shares and whether any gain or loss that the shareholder realizes on the sale or exchange is short-term or long-term gain or loss. For purposes of calculating and reporting basis, shares of a Fund acquired prior to January 1, 2012, and shares of that same Fund acquired on or after January 1, 2012, will generally be treated as held in separate accounts. If a shareholder has different bases for different shares of a particular Fund, acquired on or after January 1, 2012, in the same account (e.g., if a shareholder purchased Fund shares in the same account at different times for different prices), the Fund will calculate the basis of each share sold using a default method unless the shareholder has properly elected to use a different method. The Funds' default method for calculating basis will be the average basis method, under which the basis per share is reported as the average of the bases of all of the shareholder's Fund shares in the account. A shareholder may elect, on an account-by-account basis, to use a method other than average basis by following procedures established by the Funds. If such an election is made on or prior to the date of the first exchange or redemption of shares in the account, the new election will generally apply as if the average basis method had never been in effect for such account. If such an election is not made on or prior to such date, the shares in the account at the time of the election will retain their averaged bases. Shareholders should consult their tax advisers concerning the tax consequences of applying the average basis method or electing another method of basis calculation.

Taxation of Non-U.S. Shareholders

Dividends and certain other payments (but not including distributions of net capital gains, "short-term capital gain dividends" and "interest-related dividends" (described below)) to persons who are neither citizens nor residents of the United States or U.S. entities ("Non-U.S. Persons") are generally subject to U.S. tax withholding at the rate of 30%. Each Fund intends to withhold at the 30% rate on taxable dividends and other payments to Non-U.S. Persons to the extent that such dividends and payments are subject to such withholding. A Fund may withhold at a lower rate permitted by an applicable treaty if the shareholder provides the documentation required by the Fund.

------

Dividends reported by a Fund as (i) interest-related dividends, to the extent such dividends are derived from the Fund's "qualified net interest income," or (ii) short-term capital gain dividends, to the extent such dividends are derived from the Fund's "qualified short-term gain," are generally exempt from this 30% withholding tax. "Qualified net interest income" is a Fund's net income derived from U.S.-source interest and original issue discount, subject to certain exceptions and limitations. "Qualified short-term gain" generally means the excess of a Fund's net short-term capital gain for the taxable year over its net long-term capital loss, if any. In the case of Fund shares held through an intermediary, the intermediary may withhold even if a Fund reports the payment as an interest-related dividend or as a short-term capital gain dividend. Non-U.S. Persons should contact their intermediaries with respect to the application of these rules to their accounts.

Unless certain non-U.S. entities that hold Fund shares comply with IRS requirements that will generally require them to report information regarding U.S. persons investing in, or holding accounts with, such entities, a 30% withholding tax will apply to Fund distributions payable to such entities. A non-U.S. shareholder may be exempt from the withholding described in this paragraph under an applicable intergovernmental agreement between the U.S. and a foreign government, provided that the shareholder and the applicable foreign government comply with the terms of such agreement.

Backup Withholding

Each Fund is required in certain circumstances to apply backup withholding on reportable payments, including ordinary dividends, capital gain dividends, redemption proceeds, and certain other payments that are paid to any noncorporate shareholder (including a Non-U.S. Person) who does not furnish to the Fund certain information and certifications or who is otherwise subject to backup withholding. The backup withholding rate is currently 24%. Backup withholding will not, however, be applied to payments that are (or would be, but for the application of a treaty) subject to the 30% withholding tax on shareholders who are Non-U.S. Persons. Any amounts overwithheld may be recovered by such persons by filing a claim for refund with the IRS within the time period appropriate to such claims.

#### EFFECTS OF CERTAIN INVESTMENTS AND TRANSACTIONS
Certain Debt Instruments

An investment by a Fund in zero coupon bonds, deferred interest bonds, payment-in-kind bonds, certain stripped securities, and certain securities purchased at a market discount will cause the Fund to recognize income prior to the receipt of cash payments with respect to those securities. In order to distribute this income and avoid a tax on the Fund, the Fund may be required to liquidate portfolio securities that it might otherwise have continued to hold, potentially resulting in additional taxable gain or loss to the Fund.

Options, etc.

A Fund's transactions in options, futures contracts, forward contracts, swaps, and related transactions will be subject to special tax rules that may affect the amount, timing, and character of Fund income and distributions to shareholders. For example, certain positions held by a Fund on the last business day of each taxable year will be marked to market (i.e., treated as if closed out) on that day, and any gain or loss associated with the positions will be treated as 60% long-term and 40% short-term capital gain or loss. Certain positions held by a Fund that substantially diminish its risk of loss with respect to other positions in its portfolio may constitute "straddles," and may be subject to special tax rules that would cause deferral of Fund losses, adjustments in the holding periods of Fund securities, and conversion of short-term into long-term capital losses. Certain tax elections exist for straddles that may alter the effects of these rules. Each Fund intends to limit its activities in options, futures contracts, forward contracts, swaps, and related transactions to the extent necessary to meet the requirements of the Code.

Foreign Securities

Special tax considerations apply with respect to foreign investments of each Fund. Foreign exchange gains and losses realized by a Fund will generally be treated as ordinary income and losses.

The Stock Funds may make equity investments in foreign entities that may be treated as "passive foreign investment companies" (or "PFICs") for U.S. federal income tax purposes. If a Fund does invest in a PFIC, then that Fund may be required to pay additional tax (and interest) in respect of distributions from, and gains attributable to, the sale or other disposition of the stock of, such PFIC. If the Fund is eligible to make and makes either a "qualified electing fund" election or a "mark to market" election with respect to its investment in a PFIC, then that Fund may have taxable income from such investment regardless of whether it receives any actual distributions of cash derived from the PFIC in any given year. In order to enable a Fund to distribute its share of this income and avoid a tax at the Fund level, the Fund may be required to liquidate portfolio securities that it might have otherwise continued to hold,

------

potentially resulting in additional taxable gain or loss. The Funds do not anticipate that the Bond Fund will make equity investments in any foreign entity that is treated as a PFIC for U.S. federal income tax purposes.

If a sufficient portion of the interests in a foreign issuer are held or deemed held by a Fund, independently or together with certain other U.S. persons, that issuer may be treated as a "controlled foreign corporation" (a "CFC") with respect to the Fund, in which case the Fund will be required to take into account each year, as ordinary income, its share of certain portions of that issuer's income, whether or not such amounts are distributed. A Fund may have to dispose of its portfolio securities (potentially resulting in the recognition of taxable gain or loss, and potentially under disadvantageous circumstances) to generate cash, or may have to borrow the cash, to meet its distribution requirements and avoid fund-level taxes. In addition, some gains recognized by a Fund on the disposition of interests in a CFC may be treated as ordinary income. The Funds do not anticipate that the Bond Fund will make equity investments in any foreign entity that is treated as a CFC for U.S. federal income tax purposes.

Investments in REMICs

Any investment by the Bond Fund in residual interests of a CMO that has elected to be treated as a REMIC can create complex tax problems, especially if the Fund has state or local governments or other tax-exempt organizations as shareholders. Prospective investors that are tax exempt should consult their tax advisers regarding an investment in a Fund.

The foregoing discussion should not be viewed as a comprehensive discussion of the items referred to nor as addressing all tax considerations relevant to investors. Dividends and distributions may also be subject to state, local, or foreign taxes. Each current and prospective shareholder should consult his or her own tax advisers for additional details regarding potential tax consequences of an investment in a Fund, based on his or her particular tax status.

**7.** **PORTFOLIO TRANSACTIONS AND BROKERAGE COMMISSIONS** 

Specific decisions to implement the purchase or sale of securities for the Equity Fund and Sustainable Solutions Fund, and purchase or sell securities for the International Equity Fund and Bond Fund are made by portfolio managers who are employees of the applicable Subadviser and who are appointed and supervised by its senior officers. The portfolio managers who are employees of a Subadviser of the Funds may serve other clients of a Subadviser in a similar capacity.

The primary consideration in placing securities transactions for the Funds with broker-dealers for execution is to obtain and maintain the availability of execution at the most favorable prices and in the most effective manner possible.

*Wellington Management* 

Wellington Management attempts to achieve this result by selecting broker-dealers to execute transactions on behalf of the Funds and other clients of Wellington on the basis of their professional capability, the value and quality of their brokerage services, and the level of their brokerage commissions in accordance with the Policy and Procedures on Order Execution and Research Services. Wellington Management may also consider social factors, such as whether the brokerage firm is minority-owned, in selecting broker-dealers, subject to Wellington's duty to obtain best execution. In the case of securities traded in the over-the-counter market (where no stated commissions are paid but the prices include a dealer's markup or markdown), Wellington normally seeks to deal directly with the primary market makers, unless in its opinion best execution is available elsewhere. In the case of securities purchased from underwriters, the cost of such securities generally includes a fixed underwriting commission or concession. Most of the Bond Fund's transactions will be on a principal basis.

*SSGA FM* 

With respect to portfolio transactions placed on behalf of a Fund by SSGA FM, purchases and sales of securities on a securities exchange are affected through brokers who charge a commission for their services. Ordinarily commissions are not charged on over-the-counter orders (e.g., fixed income securities) because the Funds pay a spread which is included in the cost of the security and represents the difference between the dealer's quoted price at which it is willing to sell the security and the dealer's quoted price at which it is willing to buy the security. When a Fund executes an over-the-counter order with an electronic communications network or an alternative trading system, a commission is charged by such electronic communications networks and alternative trading systems as they execute such orders on an agency basis. Securities may be purchased from underwriters at prices that include underwriting fees.

In placing a portfolio transaction, SSGA FM seeks to achieve best execution. SSGA FM's duty to seek best execution requires SSGA FM to take reasonable steps to obtain for the client as favorable an overall result as possible for Fund portfolio transactions under the circumstances, taking into account various factors that are relevant to the particular transaction.

------

SSGA FM refers to and selects from the list of approved trading counterparties maintained by SSGA FM's Credit Risk Management team. In selecting a trading counterparty for a particular trade, SSGA FM seeks to weigh relevant factors including, but not limited to the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Prompt and reliable execution;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The competitiveness of commission rates and spreads, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The financial strength, stability and/or reputation of the trading counterparty;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The willingness and ability of the executing trading counterparty to execute transactions (and commit capital) of size in liquid and illiquid markets without disrupting the market for the security;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Local laws, regulations or restrictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The ability of the trading counterparty to maintain confidentiality;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The availability and capability of execution venues, including electronic communications networks for trading and execution management systems made available to SSGA FM;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Market share;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Liquidity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Price;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Execution related costs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• History of execution of orders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Likelihood of execution and settlement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Order size and nature;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Clearance and settlement capabilities, especially in high volatility market environments;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Availability of lendable securities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sophistication of the trading counterparty's trading capabilities and infrastructure/facilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The operational efficiency with which transactions are processed and cleared, taking into account the order size and complexity;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Speed and responsiveness to SSGA FM;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Access to secondary markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Counterparty exposure; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Depending upon the circumstances, SSGA FM may take other relevant factors into account if SSGA FM believes that these are important in taking all sufficient steps to obtain the best possible result for execution of the order.

In selecting a trading counterparty, the price of the transaction and costs related to the execution of the transaction typically merit a high relative importance, depending on the circumstances. SSGA FM does not necessarily select a trading counterparty based upon price and costs but may take other relevant factors into account if it believes that these are important in taking reasonable steps to obtain the best possible result for a Fund under the circumstances. Consequently, SSGA FM may cause a client to pay a trading counterparty more than another trading counterparty might have charged for the same transaction in recognition of the value and quality of the brokerage services provided. The following matters may influence the relative importance that SSGA FM places upon the relevant factors:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The nature and characteristics of the order or transaction. For example, size of order, market impact of order, limits, or other instructions relating to the order;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The characteristics of the financial instrument(s) or other assets which are the subject of that order. For example, whether the order pertains to an equity, fixed income, derivative or convertible instrument;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The characteristics of the execution venues to which that order can be directed, if relevant. For example, availability and capabilities of electronic trading systems;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Whether the transaction is a 'delivery versus payment' or 'over-the-counter' transaction. The creditworthiness of the trading counterparty, the amount of existing exposure to a trading counterparty and trading counterparty settlement capabilities may be given a higher relative importance in the case of 'over-the-counter' transactions; and/or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Any other circumstances that SSGA FM believes are relevant at the time.

The process by which trading counterparties are selected to effect transactions is designed to exclude consideration of the sales efforts conducted by broker-dealers in relation to the Funds.

SSGA FM does not currently use the Funds' assets in connection with third-party soft dollar arrangements. While SSGA FM does not currently use "soft" or commission dollars paid by the Funds for the purchase of third-party research, SSGA FM reserves the right to do so in the future.

------

Notwithstanding the above, in compliance with Section 28(e) of the Securities Exchange Act of 1934, a Subadviser may select brokers who charge a commission in excess of that charged by other brokers, if the Subadviser determines in good faith that the commission to be charged is reasonable in relation to the brokerage and research services provided to the Subadviser by such brokers. Research services generally consist of research or statistical reports or oral advice from brokers and dealers regarding particular companies, industries, or general economic conditions. These services may provide both domestic and international perspective. The Manager or Subadviser may also have arrangements with brokers pursuant to which such brokers provide research services to the Manager or Subadviser in exchange for a certain volume of brokerage transactions to be executed by such brokers. Arrangements for the receipt of research services from brokers may create conflicts of interest. While the payment of higher commissions increases a Fund's costs, the Subadviser and Manager do not believe that the receipt of such brokerage and research services significantly reduces its expenses as the Subadviser and Manager, respectively.

Research services furnished by brokers who effect securities transactions for the Funds may be used by the Subadviser or Manager in servicing other investment companies and accounts that it manages. Similarly, research services furnished to a Subadviser or the Manager by brokers who effect securities transactions for other investment companies and accounts that the Subadviser or Manager manage, respectively, may be used by the Subadviser or Manager in servicing the applicable Fund. Not all of these research services are used by a Subadviser or the Manager in managing any particular account, including the Funds. The Funds encourage the Subadvisers to use minority- and women-owned brokerage firms to execute the Funds' transactions, subject to the Subadviser's duty to obtain best execution. A Subadviser may choose to direct transactions to minority- and women-owned brokerage firms that will contract for a correspondent broker to execute and clear the trades. While each Subadviser believes that it will obtain best execution in these transactions, the Funds may forego other benefits (like research) that it would have received if such transactions were executed through correspondent brokers directly. The Board of Trustees has determined that these arrangements are appropriate in light of the overall philosophy and goals of the Funds.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Equity Fund** paid brokerage commissions of $37,211, $16,575, and 18,634, respectively.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Sustainable Solutions Fund** paid brokerage commissions of $5,969, $3,637, and $5,199, respectively.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **International Equity Fund** paid brokerage commissions of $555,915, $441,851, and $603,300, respectively.

No portfolio transactions may be executed with the Adviser or a Subadviser, or with any affiliate of the Adviser or a Subadviser, acting either as principal or as broker, except as permitted by applicable law.

The **Equity Fund**, **Sustainable Solutions Fund**, and **International Equity Fund** did not pay any brokerage commissions to affiliated brokers during its fiscal years ended July 31, 2025, 2024, 2023.

For the fiscal years ended July 31, 2025, 2024, and 2023, the **Bond Fund** paid brokerage commissions of $0, $0, and $14, respectively.

In certain instances, there may be securities that are suitable for the Funds as well as for one or more of a Subadviser's or Domini's other clients. Investment decisions for the Funds and for a Subadviser's or Domini's other clients are made with a view to achieving their respective investment objectives. It may develop that a particular security is bought or sold for only one client even though it might be held by, or bought or sold for, other clients. Likewise, a particular security may be bought for one or more clients when one or more clients are selling that same security. Some simultaneous transactions are inevitable when several clients receive investment advice from the same investment adviser, particularly when the same security is suitable for the investment objectives of more than one client. When two or more clients are simultaneously engaged in the purchase or sale of the same security, the securities are allocated among clients in a manner believed to be equitable to each. It is recognized that in some cases this system could have a detrimental effect on the price or volume of the security as far as the Funds are concerned. However, it is believed that the ability of the Funds to participate in volume transactions will produce better executions for the Funds.

**8.** **DESCRIPTION OF SHARES, VOTING RIGHTS, AND LIABILITIES** 

The Trust is a Massachusetts business trust established under a Declaration of Trust dated as of March 1, 1990. The Trust's Declaration of Trust permits the Trust's Board of Trustees to issue an unlimited number of shares of beneficial interest (par value $0.00001 per share) in separate series and to divide any such series into classes of shares. Currently the Funds are the only series offered by the Trust. The Equity Fund has three classes of shares: Investor shares, Institutional shares, and Class Y shares (prior to November 30, 2020, Class Y shares of the Equity Fund were known as Class R shares). The Class A shares of the Equity were

------

converted into Investor shares of the Fund as of the close of business on July 26, 2024. The Sustainable Solutions Fund has two classes of shares: Investor shares and Institutional shares. The International Equity Fund has three classes of shares: Investor shares, Institutional shares and Class Y shares. The Class A shares of the International Equity Fund were converted into Investor shares of the Fund as of the close of business on July 26, 2024. The Bond Fund has four classes of shares: the Investor shares, Institutional shares, Class R shares and Class Y shares. No Class R shares of the Bond Fund are being offered or are outstanding as of the date of this Statement of Additional Information. Each share of each class represents an equal proportionate interest in a series with each other share of that class. Upon liquidation or dissolution of a Fund, the Fund's shareholders are entitled to share pro rata in the Fund's net assets available for distribution to its shareholders. The Trust reserves the right to create and issue additional series and classes of shares, and to redesignate series and classify and reclassify classes, whether or not shares of the series or class are outstanding. The Trust also reserves the right to modify the preferences, voting powers, rights, and privileges of shares of each class without shareholder approval. Shares of each series participate equally in the earnings, dividends, and distribution of net assets of the particular series upon the liquidation or dissolution (except for any differences among classes of shares of a series).

The assets of the Trust received for the issue or sale of the shares of each series and all income, earnings, profits, and proceeds thereof, subject only to the rights of creditors, are specifically allocated to such series and constitute the underlying assets of such series. The underlying assets of each series are segregated on the books of account, and are to be charged with the liabilities in respect to such series and with such a share of the general liabilities of the Trust. If a series were unable to meet its obligations, the assets of all other series might be available to creditors for that purpose, in which case the assets of such other series could be used to meet liabilities that are not otherwise properly chargeable to them. Expenses with respect to any two or more series are to be allocated in proportion to the asset value of the respective series except where allocations of direct expenses can otherwise be fairly made. The officers of the Trust, subject to the general supervision of the Trustees, have the power to determine which liabilities are allocable to a given series, or which are general or allocable to two or more series. In the event of the dissolution or liquidation of the Trust or any series, the holders of the shares of any series are entitled to receive as a class the value of the underlying assets of such shares available for distribution to shareholders.

The Trustees of the Trust have the authority to designate additional series and classes of shares, to divide any series, and to designate the relative rights and preferences as between the different series and classes of shares. All shares issued and outstanding will be fully paid and nonassessable by the Trust, and redeemable as described in this Statement of Additional Information and in the Prospectus. The Trust may involuntarily redeem shareholder's shares at any time for any reason the Trustees of the Trust deem appropriate, including for the following reasons: (a) in order to eliminate inactive, lost, or very small accounts for administrative efficiencies and cost savings, (b) to protect the tax status of a Fund if necessary, and (c) to eliminate ownership of shares by a particular shareholder when the Trustees determine that the particular shareholder's ownership is not in the best interests of the other shareholders of a Fund.

Each shareholder of a Fund is entitled to one vote for each dollar of net asset value (number of shares owned times net asset value per share) represented by the shareholder's shares in the Fund, on each matter on which the shareholder is entitled to vote. Each fractional dollar amount is entitled to a proportionate fractional vote. Shareholders of the Funds and all other series of the Trust, if any, will generally vote together on all matters except when the Trustees determine that only shareholders of a particular Fund, series, or class are affected by a particular matter or when applicable law requires shareholders to vote separately by Fund or series or class. Except when a larger vote is required by applicable law, a majority of the voting power of the shares voted in person or by proxy on a matter will decide that matter and a plurality of the voting power of the shares voted in person or by proxy will elect a Trustee. Shareholders of the Trust do not have cumulative voting rights, and shareholders owning more than 50% of the outstanding shares of the Trust may elect all of the Trustees of the Trust if they choose to do so, and in such event the other shareholders of the Trust would not be able to elect any Trustee.

The Trust is not required and has no current intention to hold annual meetings of shareholders, but the Trust will hold special meetings of the Trust's or a Fund's shareholders when in the judgment of the Trust's Trustees it is necessary or desirable to submit matters for a shareholder vote. Shareholders have the right to remove one or more Trustees under certain circumstances.

The Trust may, without shareholder approval, change a Fund's form of organization, reorganize any Fund or series, any class, or the Trust as a whole into a newly created entity or a newly created series of an existing entity, or incorporate any Fund, any other series, any class, or the Trust as a whole as a newly created entity. If recommended by the Trustees, the Trust, any Fund, any other series, or any class of the Trust may merge or consolidate or may sell, lease, or exchange all or substantially all of its assets if authorized at any meeting of shareholders by a vote of the majority of the outstanding voting securities (as defined in the 1940 Act) of the Trust voting as a single class or of the affected Fund, series, or class, or by written consent, without a meeting, of the holders of shares representing a majority of the voting power of the outstanding shares of the Trust voting as a single class, or of the affected Fund, series or class. The Trust may be terminated at any time by a vote of the majority of the outstanding voting securities (as defined in the 1940 Act) of the Trust. Any Fund, any other series of the Trust, or any class of any series, may be terminated at any time by a vote of the majority of the outstanding voting securities (as defined in the 1940 Act) of the Fund or that series or class, or by the Trustees by written notice

------

to the shareholders of the Fund or that series or class. If not so terminated, the Trust will continue indefinitely. Except in limited circumstances, the Trustees may, without any shareholder vote, amend or otherwise supplement the Trust's Declaration of Trust.

The Trust's Declaration of Trust provides that, at any meeting of shareholders of the Trust or of any Fund, a Shareholder Servicing Agent may vote any shares as to which such Shareholder Servicing Agent is the agent of record and that are not represented in person or by proxy at the meeting, proportionately in accordance with the votes cast by holders of all shares otherwise represented at the meeting in person or by proxy as to which such Shareholder Servicing Agent is the agent of record. Any shares so voted by a Shareholder Servicing Agent will be deemed represented at the meeting for purposes of quorum requirements.

The Declaration of Trust provides that obligations of the Trust are not binding upon the Trustees individually but only upon the property of the Trust, that the Trustees and officers will not be liable for errors of judgment or mistakes of fact or law, and that the Trust will indemnify its Trustees and officers against liabilities and expenses incurred in connection with litigation in which they may be involved because of their offices with the Trust unless, as to liability to Trust or Fund shareholders, it is finally adjudicated that they engaged in willful misfeasance, bad faith, gross negligence, or reckless disregard of the duties involved in their offices, or unless with respect to any other matter it is finally adjudicated that they did not act in good faith in the reasonable belief that their actions were in the best interests of the Trust. In the case of settlement, such indemnification will not be provided unless it has been determined by a court or other body approving the settlement or other disposition, or by a reasonable determination, based upon a review of readily available facts, by vote of a majority of Disinterested Trustees (as defined in the Declaration of Trust) or in a written opinion of independent counsel, that such Trustees or officers have not engaged in willful misfeasance, bad faith, gross negligence, or reckless disregard of their duties.

Under Massachusetts law, shareholders of a Massachusetts business trust may, under certain circumstances, be held personally liable as partners for its obligations and liabilities. However, the Declaration of Trust contains an express disclaimer of shareholder liability for acts or obligations of the Funds and provides for indemnification and reimbursement of expenses out of Fund property for any shareholder held personally liable for the obligations of a Fund. The Declaration of Trust also provides for the maintenance, by or on behalf of the Trust and the Funds, of appropriate insurance (e.g., fidelity bonding and errors and omissions insurance) for the protection of the Funds and their shareholders and the Trust's Trustees, officers, employees, and agents covering possible tort and other liabilities. Thus, the risk of a shareholder incurring financial loss on account of shareholder liability is limited to circumstances in which both inadequate insurance existed and a Fund itself was unable to meet its obligations.

The Trust's Declaration of Trust provides that shareholders may not bring suit on behalf of the Fund without first requesting that the Trustees bring such suit. Such demand should be mailed to the Secretary of the Trust at the Trust's principal office and should set forth in reasonable detail the nature of the proposed suit and the essential facts relied upon by the shareholder to support the allegations made in the demand. A Trustee is not considered to have a personal financial interest in any action or otherwise be disqualified from ruling on a shareholder demand by virtue of the fact that such Trustee receives remuneration from his or her service as Trustee or as a trustee of funds with the same or an affiliated investment adviser or distributor, or by virtue of the amount of such remuneration.

The Trust's Declaration of Trust provides that by becoming a shareholder of a Fund, each shareholder shall be expressly held to have assented to and agreed to be bound by the provisions of the Declaration.

**9.** **FINANCIAL STATEMENTS** 

The audited financial statements of the Equity Fund (Statement of Assets and Liabilities at July 31, 2025, Statement of Operations for the year ended July 31, 2025, Statements of Changes in Net Assets for each of the years in the two-year period ended July 31, 2025, Financial Highlights for each of the years in the five-year period ended July 31, 2025, Notes to Financial Statements, and Independent Registered Public Accounting Firm's Report) are hereby incorporated by reference to the Form N-CSR of the Equity Fund, which has been filed with the SEC pursuant to Section 30(b) of the 1940 Act and Rule 30b2-1 thereunder. A copy of the financial statements may be obtained without charge from Domini Impact Investments by calling 1-800-582-6757 or online at *www.domini.com/funddocuments.* 

The audited financial statements of the Sustainable Solutions Fund (Statement of Assets and Liabilities at July 31, 2025, Statement of Operations for the year ended July 31, 2025, Statements of Changes in Net Assets for each of the years in the two-year period ended July 31, 2025, Financial Highlights for each of the years in the five-year period ended July 31, 2025, Notes to Financial Statements, and Independent Registered Public Accounting Firm's Report), are hereby incorporated by reference to the Form N-CSR of the Sustainable Solutions Fund, which has been filed with the SEC pursuant to Section 30(b) of the 1940 Act and Rule 30b2-1 thereunder. A copy of the financial statements may be obtained without charge from Domini Impact Investments by calling 1-800-582-6757 or online at *www.domini.com/funddocuments*.

------

The audited financial statements of the International Equity Fund (Statement of Assets and Liabilities at July 31, 2025, Statement of Operations for the year ended July 31, 2025, Statements of Changes in Net Assets for each of the years in the two-year period ended July 31, 2025, Financial Highlights for each of the years in the five-year period ended July 31, 2025, Notes to Financial Statements, and Independent Registered Public Accounting Firm's Report), are hereby incorporated by reference to the Form N-CSR of the International Equity Fund, which has been filed with the SEC pursuant to Section 30(b) of the 1940 Act and Rule 30b2-1 thereunder. A copy of the financial statements may be obtained without charge from Domini Impact Investments by calling 1-800-582-6757 or online at *www.domini.com/funddocuments*.

The audited financial statements of the Bond Fund (Statement of Assets and Liabilities at July 31, 2025, Statement of Operations for the year ended July 31, 2025, Statements of Changes in Net Assets for each of the years in the two-year period ended July 31, 2025, Financial Highlights for each of the years in the five-year period ended July 31, 2025, Notes to Financial Statements, and Independent Registered Public Accounting Firm's Report) are hereby incorporated by reference to the Form N-CSR of the Bond Fund, which has been filed with the SEC pursuant to Section 30(b) of the 1940 Act and Rule 30b2-1 thereunder. A copy of the financial statements may be obtained without charge from Domini Impact Investments by calling (800) 582-6757 or online at *www.domini.com/funddocuments.*

\* \* \* \* \*

---

| | |
|:---|:---|
| ![LOGO](g806602g53b65.jpg) | <sup>®</sup>, Domini Impact Investments<sup>®</sup>, Domini<sup>®</sup>, Investing for Good<sup>®</sup>, and The Way You Invest Matters<sup>®</sup> are registered service |
| marks of Domini. Domini Sustainable Solutions Fund<sup>SM</sup>, Domini Impact Equity Fund<sup>SM</sup>, Domini Impact International Equity Fund<sup>SM</sup>, and Domini Impact Bond Fund<sup>SM</sup> are service marks of Domini Impact Investments LLC ("Domini"). The Domini Impact Investment Standards are copyright <sup>©</sup> 2006-2025 by Domini Impact Investments LLC. All rights reserved. | marks of Domini. Domini Sustainable Solutions Fund<sup>SM</sup>, Domini Impact Equity Fund<sup>SM</sup>, Domini Impact International Equity Fund<sup>SM</sup>, and Domini Impact Bond Fund<sup>SM</sup> are service marks of Domini Impact Investments LLC ("Domini"). The Domini Impact Investment Standards are copyright <sup>©</sup> 2006-2025 by Domini Impact Investments LLC. All rights reserved. |

---

------

#### APPENDIX A

#### RATINGS INFORMATION
The following ratings are opinions of Standard & Poor's Ratings Services, a division of McGraw-Hill Companies, Inc. ("Standard & Poor's"), Moody's Investors Service, Inc. ("Moody's"), or Fitch, Inc. ("Fitch"), not recommendations to buy, sell, or hold an obligation. The ratings below are as described by the rating agencies. While the rating agencies may from time to time revise such ratings, they are under no obligation to do so. No reliance is made upon the credit rating firms as "experts" as that term is defined for securities purposes. Rather, reliance on this information is on the basis that such ratings have become generally accepted in the investment business.

In the case of "split-rated" securities or loans (i.e., securities or loans assigned non-equivalent credit quality ratings, such as Baa by Moody's but BB by S&P or Ba by Moody's and BB by S&P but B by Fitch), the subadviser will determine whether a particular security or loan is considered investment grade or below-investment grade as follows: (a) if all three credit rating agencies have rated a security or loan the median credit rating is used for this determination, and b) if only two credit rating agencies have rated a security, the lower (e.g., most conservative) credit rating is used. If only one credit rating agency has rated a security, the one credit rating available will be used by the subadviser. If a security is not rated by all three credit rating agencies, then an internal credit rating, as determined by the subadviser, may be used. In the case of intermediate ratings, they are included in the category of the primary rating. For example, BBB- and BBB+ are included in BBB and Baa includes Baa1, Baa2 and Baa3.

For certain securities, such as newly-issued bonds, expected credit ratings may be used until actual credit ratings are assigned by the credit rating agencies. In such cases, the securities may be purchased if it is anticipated at the time of purchase that rating agencies will assign ratings that are compliant with the investment guidelines. Should the actual credit rating assigned to a security diverge from the expected rating, the Fund's subadviser will decide whether the Fund should continue to hold or sell the security. If an issue remains unrated by these rating agencies or it is anticipated that it will not be rated, then an internal credit rating, as determined by the subadviser, may be used.

#### Excerpts from Standard & Poor's Description of its Ratings
<u>Standard & Poor's Four Highest Long-term Issue Credit Ratings</u> 

AAA — An obligation rated 'AAA' has the highest rating assigned by Standard & Poor's. The obligor's capacity to meet its financial commitment on the obligation is extremely strong.

AA — An obligation rated 'AA' differs from the highest-rated obligations only to a small degree. The obligor's capacity to meet its financial commitment on the obligation is very strong.

A — An obligation rated 'A' is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. However, the obligor's capacity to meet its financial commitment on the obligation is still strong.

BBB — An obligation rated 'BBB' exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

Plus (+) or Minus (-) — The ratings may be modified by the addition of a plus (+) or minus (-) sign to show relative standing within the major rating categories.

NR — This indicates that no rating has been requested, that there is insufficient information on which to base a rating, or that Standard & Poor's does not rate a particular obligation as a matter of policy.

<u>Standard & Poor's Short-term Issue Credit Ratings</u> 

A-1 — A short-term obligation rated "A—1" is rated in the highest category by Standard & Poor's. The obligor's capacity to meet its financial commitment on the obligation is strong. Within this category, certain obligations are designated with a plus sign (+). This indicates that the obligor's capacity to meet its financial commitments is extremely strong.

A-2 — A short-term obligation rated "A—2" is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher rating categories. However, the obligor's capacity to meet its financial commitment on the obligation is satisfactory.

------

A-3 — A short-term obligation rated "A—3" exhibits adequate protection parameters. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation.

B — A short-term obligation rated "B" is regarded as vulnerable and has significant speculative characteristics. The obligor currently has the capacity to meet its financial commitments; however, it faces major ongoing uncertainties which could lead to the obligor's inadequate capacity to meet its financial commitments on the obligation.

C — A short-term obligation rated "C" is currently vulnerable to nonpayment and is dependent upon favorable business, financial, and economic conditions for the obligor to meet its financial commitments on the obligation.

D — A short-term obligation rated "D" is in payment default. The 'D' rating category is used when payments on an obligation are not made on the date due, unless Standard & Poor's believes that such payments will be made within any stated grace period. The "D" rating also will be used upon the filing of a bankruptcy petition or the taking of a similar action if payments on an obligation are jeopardized.

NR — An issuer designated NR is not rated.

<u>Standard & Poor's Municipal Credit Ratings</u> 

A Standard & Poor's municipal note rating reflects Standard & Poor's opinion about the liquidity factors and market access risks unique to the notes. Notes due in three years or less will likely receive a note rating. Notes with an original maturity of more than three years will most likely receive a long-term debt rating. In determining which type of rating, if any, to assign, Standard & Poor's analysis will review the following considerations: (1) Amortization schedule—the larger the final maturity relative to other maturities, the more likely it will be treated as a note; and (2) Source of payment—the more dependent the issue is on the market for its refinancing, the more likely it will be treated as a note.

Note rating symbols are as follows:

SP-1 - Strong capacity to pay principal and interest. An issue determined to possess a very strong capacity to pay debt service is given a plus (+) designation.

SP-2 - Satisfactory capacity to pay principal and interest, with some vulnerability to adverse financial and economic changes over the term of the notes.

SP-3 - Speculative capacity to pay principal and interest.

There are three rating categories for short-term municipal obligations that are considered investment grade. These ratings are designated as Municipal Investment Grade (MIG) and are divided into three levels — MIG 1 through MIG 3. In addition, those short-term obligations that are of speculative quality are designated SG, or speculative grade. MIG ratings expire at the maturity of the obligation.

MIG 1. This designation denotes superior quality.

Excellent protection is afforded by established cash flows, highly reliable liquidity support, or demonstrated broad-based access to the market for refinancing.

MIG 2. This designation denotes strong credit quality. Margins of protection are ample although not so large as in the preceding group.

MIG 3. This designation denotes acceptable credit quality. Liquidity and cash flow protection may be narrow and market access for refinancing is likely to be less well established.

SG. This designation denotes speculative-grade quality. Debt instruments in this category may lack sufficient margins of protection.

------

<u>Standard & Poor's Variable Rate Demand Obligations Ratings</u> 

In the case of variable rate demand obligations (VRDOs), a two-component rating is assigned; a long or short-term debt rating and a demand obligation rating. The first element represents Moody's evaluation of the degree of risk associated with scheduled principal and interest payments. The second element represents Moody's evaluation of the degree of risk associated with the ability to receive purchase price upon demand ("demand feature"), using a variation of the MIG rating scale, the Variable Municipal Investment Grade or VMIG rating.

When either the long- or short-term aspect of a VRDO is not rated, that piece is designated NR, e.g., Aaa/NR or NR/VMIG 1.

VMIG rating expirations are a function of each issue's specific structural or credit features.

VMIG 1. This designation denotes superior credit quality. Excellent protection is afforded by the superior short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand. Excellent protection is afforded by established cash flows, highly reliable liquidity support, or demonstrated broad-based access to the market for refinancing.

VMIG 2. This designation denotes strong credit quality. Good protection is afforded by the strong short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand.

VMIG 3. This designation denotes acceptable credit quality. Adequate protection is afforded by the satisfactory short-term credit strength of the liquidity provider and structural and legal protections that ensure the timely payment of purchase price upon demand.

SG. This designation denotes speculative-grade credit quality. Demand features rated in this category may be supported by a liquidity provider that does not have an investment grade short-term rating or may lack the structural and/or legal protections necessary to ensure the timely payment of purchase price upon demand.

<u>Standard & Poor's Dual Credit Ratings</u> 

Dual ratings may be assigned to debt issues that have a put option or demand feature. The first component of the rating addresses the likelihood of repayment of principal and interest as due, and the second component of the rating addresses only the demand feature. The first component of the rating can relate to either a short-term or long-term transaction and accordingly use either short-term or long-term rating symbols. The second component of the rating relates to the put option and is assigned a short-term rating symbol (for example, 'AAA/A-1+' or 'A-1+/A-1'). With U.S. municipal short-term demand debt, the U.S. municipal short-term note rating symbols are used for the first component of the rating (for example, 'SP-1+/A-1+').

#### Excerpts from Moody's Description of its Ratings
<u>Moody's Four Highest Long-Term Obligation Credit Ratings</u> 

Moody's Long-term ratings are assigned to issuers or obligations with an original maturity of one year or more and reflect both on the likelihood of a default on contractually promised payments and the expected financial loss suffered in the event of default.

Aaa — Obligations rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk.

Aa — Obligations rated Aa are judged to be of high quality and are subject to very low credit risk.

A — Obligations rated A are judged to be upper-medium grade and are subject to low credit risk.

Baa — Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics.

Note: Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. The modifier 1 indicates that the obligation ranks in the higher end of its generic rating category; the modifier 2 indicates a mid-range ranking; and the modifier 3 indicates a ranking in the lower end of that generic rating category. Additionally, a "(hyb)" indicator is appended to all ratings of hybrid securities issued by banks, insurers, finance companies, and securities firms. By their terms, hybrid securities allow for the omission of scheduled dividends, interest, or principal payments, which can potentially result in impairment if such an

------

omission occurs. Hybrid securities may also be subject to contractually allowable write-downs of principal that could result in impairment. Together with the hybrid indicator, the long-term obligation rating assigned to a hybrid security is an expression of the relative credit risk associated with that security.

<u>Moody's Short-Term Ratings</u> 

Moody's short-term ratings are assigned to obligations with an original maturity of thirteen months or less and reflect the likelihood of a default on contractually promised payments. Moody's employs the following designations to indicate the relative repayment ability of related issuers.

P-1 - Issuers (or supporting institutions) rated Prime-1 have a superior ability to repay short-term debt obligations

P-2 - Issuers (or supporting institutions) rated Prime-2 have a strong ability to repay short-term debt obligations

P-3 - Issuers (or supporting institutions) rated Prime-3 have an acceptable ability to repay short-term obligations.

NP - Issuers (or supporting institutions) rated Not Prime do not fall within any of the Prime rating categories.

#### Excerpts from Fitch's Description of its Ratings
Rated entities in a number of sectors, including financial and non-financial corporations, sovereigns and insurance companies, are generally assigned Issuer Default Ratings (IDRs). IDRs opine on an entity's relative vulnerability to default on financial obligations. The "threshold" default risk addressed by the IDR is generally that of the financial obligations whose non-payment would best reflect the uncured failure of that entity. As such, IDRs also address relative vulnerability to bankruptcy, administrative receivership or similar concepts, although the agency recognizes that issuers may also make pre-emptive and therefore voluntary use of such mechanisms.

In aggregate, IDRs provide an ordinal ranking of issuers based on the agency's view of their relative vulnerability to default, rather than a prediction of a specific percentage likelihood of default. For historical information on the default experience of Fitch-rated issuers, please consult the transition and default performance studies available from the Fitch Ratings website.

<u>Fitch's Four Highest Long-Term Obligation Credit Ratings</u> 

AAA — Highest credit quality. 'AAA' ratings denote the lowest expectation of credit risk. They are assigned only in case of exceptionally strong capacity for timely payment of financial commitments. This capacity is highly unlikely to be adversely affected by foreseeable events.

AA — Very high credit quality. 'AA ratings denote a very low expectation of credit risk. They indicate very strong capacity for payment of financial commitments. This capacity is not significantly vulnerable to foreseeable events.

A — High credit quality. 'A' ratings denote expectations of low default risk. The capacity for payment of financial commitments is considered strong. This capacity may, nevertheless, be more vulnerable to adverse business or economic conditions than is the case for higher ratings.

BBB — Good credit quality. 'BBB' ratings indicate that expectations of default risk are currently low. The capacity for payment of financial commitments is considered adequate but adverse business or economic conditions are more likely to impair this capacity.

*Note: The modifiers "+" or "-" may be appended to a rating to denote relative status within major rating categories. Such suffixes are not added to the 'AAA' Long-Term IDR category, or to Long-Term IDR categories below 'B'.* 

<u>Fitch's Short-Term Ratings</u> 

A short-term issuer or obligation rating is based in all cases on the short-term vulnerability to default of the rated entity or security stream and relates to the capacity to meet financial obligations in accordance with the documentation governing the relevant obligation. Short-Term Ratings are assigned to obligations whose initial maturity is viewed as "short term" based on market convention. Typically, this means up to 13 months for corporate, sovereign, and structured obligations, and up to 36 months for obligations in U.S. public finance markets.

F1 — Highest short-term credit quality. Indicates the strongest intrinsic capacity for timely payment of financial commitments; may have an added "+" to denote any exceptionally strong credit feature.

------

F2 — Good short-term credit quality. Good intrinsic capacity for timely payment of financial commitments.

F3 — Fair short-term credit quality. The capacity for timely payment of financial commitments is adequate; however, near-term adverse changes could result in a reduction to non-investment grade.

B — Speculative short-term credit quality. Minimal capacity for timely payment of financial commitments, plus heightened vulnerability to near-term adverse changes in financial and economic conditions.

C — High short-term default risk. Default is a real possibility.

RD — Restricted default. Indicates an entity that has defaulted on one or more of its financial commitments, although it continues to meet other financial obligations. Typically applicable to entity ratings only.

D — Default. Indicates a broad-based default event for an entity, or the default of a short-term obligation.

------

#### Appendix B
Proxy Voting Policies and Procedures

#### INTRODUCTION
These Proxy Voting Guidelines and Procedures have been adopted by the Domini Investment Trust on behalf of each of its series (each a Fund and collectively, the "Domini Funds" or the "Funds") to ensure that all proxies for securities held by the Funds are cast in the best interests of the Domini Funds' shareholders, to whom the Funds owe a fiduciary duty.

The Board of Trustees ("Board") of the Domini Funds delegates the responsibility to vote proxies for the Funds to Domini Impact Investments LLC, the Funds' investment adviser ("Domini" or the "Adviser"), consistent with the Proxy Voting Guidelines and Procedures set forth herein. The Board reviews the Proxy Voting Guidelines and Procedures on an annual basis on behalf of the Funds and receives quarterly reports from Domini regarding the execution of its proxy voting duties. The Board also delegates to Domini the authority to make non-material amendments to the Guidelines and Procedures as necessary, subject to annual ratification.

1. Conflicts of Interest

The Board delegates the responsibility for resolving conflicts of interest that may arise between Domini and the Domini Funds in the execution of the Adviser's proxy voting duties to the Adviser. Pursuant to the Proxy Voting Procedures, where a significant conflict of interest arises, the Board expects Domini to consult with one or more members of the independent trustees to determine an appropriate course of action (see "Conflicts of Interest" below).

2. Shareblocking and Other Obstacles to Voting

Certain countries impose "shareblocking" restrictions, meaning that a shareholder is prevented from trading shares for a period of time between the date of the deadline for submission of the vote and the annual meeting (these restrictions vary from country to country). The Adviser shall seek to vote shares for every holding in a Domini Fund portfolio. However, the Adviser may forego the opportunity to vote when, in its judgment, shareblocking restrictions could impair the ability to effectively manage a Fund's portfolio.

In addition, due to particularly onerous procedural impediments in certain countries, the Adviser will not always be assured of the ability to vote Fund shares, and in certain circumstances may choose not to vote where it believes it may not be in a Fund's best interests to cast a vote. The Adviser may also choose not to vote in certain markets that impose fees for voting proxies of if there is insufficient information available to make an informed voting decision.

A Fund may miss opportunities to vote when companies fail to provide information in a timely manner or when custodial or proxy advisory delays prevent the Adviser from voting Fund shares on time. The Adviser may also miss opportunities to consider certain proxy information when companies or proxy advisory firms fail to provide such information, research or analysis in a timely manner.

3. International

The general principles guiding Domini's proxy voting practices apply globally and we will seek to apply these Guidelines consistently in all markets unless the application of the Guidelines is inconsistent with corporate governance standards and practices in the foreign market, in which case Domini may refer to the research, analysis and recommendations provided by Glass, Lewis & Co., LLC ("Glass Lewis") in accordance with its ESG Thematic Policy.<sup>1</sup>

4. Delegation

The Adviser may delegate the responsibility to review proxy proposals and make voting recommendations to a non-affiliated third party vendor, subject to the Adviser's oversight, analysis, and voting discretion. The Adviser will ensure that any third party voting recommendations followed are consistent with the Guidelines. In all cases, however, the ultimate decisions on how to vote proxies are retained by the Adviser.

<sup>1</sup> https://www.glasslewis.com/wp-content/uploads/2024/01/2024-ESG-Thematic-Voting-Policy-Glass-Lewis.pdf

Proxy Voting Guidelines

The Proxy Voting Guidelines ("Guidelines") set forth in Exhibit A summarize the Adviser's positions on various issues of concern to socially responsible investors and indicate how Fund shares will be voted on each issue. The Guidelines have been developed to

------

ensure consistency with the social and environmental standards applied to Fund portfolios and Domini's overall stock selection process.

Because the Funds have a fiduciary duty to vote all shares in the best interests of the Funds' shareholders, Domini will vote proxies after considering shareholders' financial interests and social objectives. For that reason, there may be instances in which proxies may not be voted in strict adherence to these Guidelines, based on Domini's review of the merits of the proposal and the performance of the issuer on the topic presented. Domini may, for example, abstain or vote against certain shareholder proposals where we have concerns about the framing of the proposal, including cases where we do not believe the proposal's request is reasonable, or where we believe the company has sufficiently addressed the core concerns that are raised.

These Guidelines are subject to change without notice.

Proxy Voting Procedures

Domini, on behalf of its clients (including the Funds) has entered into an agreement with Glass, Lewis & Co., LLC ("Glass Lewis"), an unaffiliated third party proxy advice and administration firm, pursuant to which Glass Lewis votes proxies in accordance with the Guidelines, as described below, and performs various proxy vote related services such as providing vote analysis, processing and recordkeeping functions.

Glass Lewis receives proxy statements and proxy ballots directly or indirectly from various custodians and/or issuers, logs these materials into its database and matches upcoming meetings with Domini client portfolio holdings, which are input into the Glass Lewis proxy voting platform(Viewpoint) in accordance with a Domini holdings data-feed. Through Viewpoint, ballots and proxy materials, research and summaries for all upcoming shareholders' meetings are available on-line to certain Domini employees and members of the Domini Proxy Voting Team.

Domini retains oversight of the proxy voting function and retains the authority to set voting policies and to vote the proxies of the Domini Funds.<sup>2</sup>

Primary responsibility for the proxy voting function at Domini rests with Domini's Director of Engagement.

Domini's primary responsibilities include the following:

*1.* *Developing the Proxy Voting Guidelines*: The Guidelines, which set voting policies for all securities for which Domini has authority to vote on behalf of the Funds, are reviewed on at least an annual basis, and updated, when necessary, to reflect new issues raised by shareholder activists, regulatory changes and other developments. Domini is also responsible for developing procedures and additional policies, where necessary, to ensure effective implementation of the Guidelines. Domini shall submit the Guidelines to the Board for review at least once per year. The Board has delegated to Domini the authority to make non-material amendments to the Guidelines and Procedures as necessary, subject to annual ratification.

2. *Evaluation of vendors:* To ensure that proxies are being voted in a timely fashion, and in accordance with the Guidelines, Domini will receive and review alerts from Glass Lewis as needed and periodic voting reports from Glass Lewis no less frequently than quarterly. Domini shall present a summary proxy voting report to the Board at least quarterly.

3. *Identify and address conflicts of interest where they arise (See "Conflicts of Interest," below)* 

4. *Voting*: Glass Lewis, at the direction of Domini, automatically votes all proxy matters that are covered by the Guidelines and do not require the particular exercise of discretion or judgment by Domini with respect to the Guidelines. Glass Lewis votes such ballots in accordance with its interpretation of the Guidelines based on Glass Lewis' research and analysis, subject to Domini's oversight and review.

<sup>2</sup> The Board of Trustees ("Board") of the Domini Funds has delegated the responsibility to vote proxies for the Funds to Domini, the Funds' investment adviser ("Domini"), and to resolve conflicts of interest that may arise in the execution of the proxy voting function. The Board reviews and adopts the Guidelines and Procedures on an annual basis on behalf of the Funds, and receives quarterly reports from Domini regarding the execution of its proxy voting duties.

Representatives of the Domini Proxy Voting Team periodically review, as Domini determines reasonable, votes cast by Glass Lewis to ensure votes are cast and are in conformity with the Guidelines. At its discretion, Domini may override the Glass Lewis vote up to the "cut off" date for submitting the vote, or applicable meeting date, when possible.

Where the Guidelines are silent on an issue, where there are unique circumstances that require further examination, or where the Guidelines require an analysis by Domini, Glass Lewis will refer these items to Domini to determine how to vote, except as noted below.

------

With respect to items referred to Domini to determine how to vote, the Domini Proxy Voting Team or its representative considers and votes on such proxy matters. Domini has access to Glass Lewis research and recommendations through Viewpoint which it may take into account in deciding how to vote. Domini may also draw upon a variety of other materials, including, for example, analyses provided by other proxy advisory services, Domini's independent research, newspaper reports, academic studies, nongovernmental organizations with expertise in the particular issue being voted on, affected stakeholders, and corporate SEC filings, including management's position on the issue in question. Domini analyzes such issues independently and does not necessarily vote in accordance with Glass Lewis' recommendations on these issues.

Domini reserves the right to override the Guidelines when such an override is, in Domini's best judgment, consistent with the best interests of Domini clients.

Glass Lewis shall vote on matters otherwise eligible for referral in accordance with the Glass Lewis ESG Thematic Policy as applicable to the issuer's home jurisdiction as instructed by Domini.<sup>3</sup>

Domini shall review and update the default voting instructions set forth in the Guidelines as needed, but no less frequently than annually.

*5.* *Reporting to Clients (where client is a fund, to the Domini Funds Board of Trustees):* Domini is responsible for ensuring that the following reporting duties are performed: (a) Annual preparation and filing of Form N-PX, containing an annual record of all votes cast for each client. The Form will be posted to Domini's website and on the SEC's website at *www.sec.gov*; (b) Availability of Domini's Web page containing an ongoing record of all votes cast for the Domini Funds each year; (c) Responding to client requests for proxy voting information; (d) Annual review and update of proxy voting information in Form ADV, Part II, the Statement of Additional Information for the Domini Funds and the Funds' shareholder reports; (e) Communication of material changes to the Policies or Procedures; (f) Ensuring that all new clients receive a copy of the most recent Form ADV, containing a concise summary of Domini's proxy voting policies and procedures; (g) Quarterly reporting to the Domini Funds' Board of Trustees on proxy voting activity.

6. *Recordkeeping* — Domini will maintain the following records: (a) the Guidelines and Procedures, as amended from time to time; (b) records of a client's written request for information on how Domini voted proxies for the client, and any written response to an oral or written client request for such information; (c) any documents prepared or reviewed by Domini that were material to making a voting decision, or that memorialized the basis for that decision, with the exception of Glass Lewis analyses and corporate proxy statements, which are maintained by Glass Lewis as noted below. These records will be maintained in an easily accessible location for at least five years from the end of the fiscal year during which the last entry was made on such record. For the first two years, such records will be stored at the offices of Domini.

Domini relies upon Glass Lewis to maintain the following records on its behalf, and to provide such records to Domini upon request: (a) proxy statements received regarding client securities (Such proxy statements are also available via electronic filings from the SEC's EDGAR filing system); (b) records of votes cast on behalf of Domini clients (Annual records are maintained at Domini and filed with the SEC; Database of votes cast is maintained by Glass Lewis, and available upon request by Domini); and (c) proxy research and application of custom policy guidelines.

Domini may rely upon the SEC's EDGAR system to maintain certain records referred to above.

*Glass Lewis* 

Glass Lewis and the clients' custodian monitor corporate events. Glass Lewis provides analyses of each issue to be voted on, makes recommendations based on the Guidelines, and casts each vote (subject to oversight and override by Domini). Glass Lewis is also responsible for maintaining complete records of all votes cast, including hard copies of all proxies received, preparing voting reports for Domini, and maintaining Domini's Web page containing an ongoing record of all votes cast for the Domini Funds each year. Glass Lewis also provides consulting services to Domini on the development of proxy voting policies.

<sup>3</sup> Glass Lewis ESG Thematic Policy Guidelines are available at: https://www.glasslewis.com/wp-content/uploads/2024/01/2024-ESG-Thematic-Voting-Policy-Glass-Lewis.pdf . Where the foregoing is silent on some voting issue, Glass Lewis Benchmark Policies will be used. These policies are available by market at: https://www.glasslewis.com/voting-policies-current/.

.

------

*Conflicts of Interest* 

Although Domini does not currently manage any pension plans, administer employee benefit plans, or provide brokerage, underwriting, insurance, or banking services, there are occasions where potential conflicts of interest may arise. For example, potential conflicts of interest may present themselves in these circumstances:

● A Domini Fund is included in a 401(k) plan sponsored by a company, or Domini is actively seeking to have one of its Funds included in a 401(k) plan sponsored by a company, and Domini is entitled to vote a proxy issued by the same company.

● A significant vendor, business partner, client or Fund shareholder may have a vested interest in the outcome of a proxy vote.

● A Domini executive or an individual involved in the proxy voting function may have a personal or business relationship with the proponent of a shareholder proposal or an issuer, or may otherwise have a vested interest in the outcome of a proxy vote.

The Guidelines and Procedures are designed to ensure that all proxies are voted in the best interests of all of our clients and Fund shareholders by isolating the proxy voting function from potential conflicts of interest, to the extent possible. Most importantly, the majority of our Guidelines are predetermined, meaning that they outline an issue and determine a specific vote. With few exceptions, these policies are applied as drafted.

In most instances, therefore, votes are cast according to predetermined policies, and potential conflicts of interest cannot influence the outcome of our voting decisions. There are, however, several voting Guidelines that require a case-by-case determination, and other instances where we may vary from our predetermined policies where we believe it is in our clients' and Fund shareholders' best interests to do so.

Any Domini employee involved in a voting decision is directed to identify any conflicts of interest he or she is aware of, including any contacts from outside parties or other members of Domini's staff or management team regarding the proxy issue in question.

If conflicts are identified, and they are of a personal nature, that individual will be asked to remove himself or herself from the decision-making process.

Where a proxy voting decision is decided in-house by Domini, the following additional procedures have been adopted to ensure that conflicts of interest are identified and appropriately addressed:

Domini is a relatively small firm, and it is not possible to completely insulate decision-makers from all potential conflicts of interest relating to Domini's business. If the conflicts are related to Domini's business, therefore, Domini will do the following:

1. Domini will delegate the decision to Glass Lewis to cast the vote in accordance with the Glass Lewis ESG Thematic Policy applicable to the issuer's subject market, after verifying that Glass Lewis does not have a material conflict of interest. Domini will take all necessary steps to insulate Glass Lewis from knowledge of the specific nature of the conflict so as not to influence the voting decision.

2. If Glass Lewis has a conflict as well, where practical, Domini will present the conflict to the client and seek guidance or consent to vote the proxy (where the client is a mutual fund, Domini will seek guidance from the Domini Funds' independent trustees).<sup>4</sup>

3. Where Domini is unable to pursue (a), above, or at the direction of the client, Domini will abstain.

4. Domini will keep records of how the conflict was identified and what resolution was reached. These records will be available for review at the client's request.

\* \* \* \* \* \*

These Guidelines and Procedures are subject to change without notice. They will be reviewed, and updated where necessary, on at least an annual basis and will be posted to Domini's website at *www.domini.com/proxyvoting*.

<sup>4</sup> In some cases, disclosure of the specific nature of the conflict may not be possible because disclosure is prohibited by Domini's privacy policy (where, for example, the conflict concerns a client or Fund shareholder) or may not otherwise be in the best interests of a Domini client, disclosure may violate other confidentiality obligations of the firm, or the information to be disclosed may be proprietary and place Domini at a competitive disadvantage. In such cases, we will discuss the situation with the client and seek guidance.

------

### Exhibit A

---

| | | |
|:---|:---|:---|
| Domini Proxy Voting Guidelines\*<br>As of November 30, 2025 | Domini Proxy Voting Guidelines\*<br>As of November 30, 2025 | Domini Proxy Voting Guidelines\*<br>As of November 30, 2025 |
| &nbsp;&nbsp;&nbsp; Topic | &nbsp;&nbsp;&nbsp; Topic | Domini's Voting Instruction |
| Board of Directors | Board of Directors | Board of Directors |
| Uncontested Election of Directors | Uncontested Election of Directors | Uncontested Election of Directors |
| &nbsp;&nbsp;&nbsp;**Board Accountability** |  | Votes on individual director nominees are made on a **case-by-case**basis**.** |
|  | Problematic Takeover<br> Defenses | Vote **against/withhold** from the entire board (except as specified below or for new nominees, who should be considered on a case-by-case basis) for the following: |
|  | Classified Board<br> Structure | If the board is classified, and a continuing director responsible for a problematic governance issue is not up for election, vote **against** all continuing nominees. |
|  | Removal of Shareholder<br> Discretion on Classified<br> Boards | Vote **against** if the company has opted into, or failed to opt out of, state laws requiring a classified board structure. |
|  | Director Performance<br> Evaluation | Vote on a **case-by-case** basis if the board lacks mechanisms to promote accountability and oversight, coupled with sustained poor performance relative to peers. Sustained poor performance is measured by one, three, and five year total shareholder returns in the bottom half of a company's four-digit GICS industry group (Russell 3000 companies only). Take into consideration the company's five-year total shareholder return and five-year operational metrics. |
|  | Poison Pills | Generally vote **against or withhold** from all nominees (except new nominees, who should be considered case-by-case) if:<br> - The company has a poison pill with a deadhand or slowhand feature.<br> - The board makes a material adverse modification to an existing pill, including, but not limited to, extension, renewal, or lowering the trigger, without shareholder approval.<br> - The company has a long-term poison pill (with a term of over one year) that was not approved by the public shareholders<sup>1</sup>.<br> Vote **case-by-case** on nominees if the board adopts an initial short-term pill (with a term of one year or less), without shareholder approval, taking into consideration:<br> - The disclosed rationale for the adoption;<br> - The ownership trigger;<br> - The company's market capitalization (including |

---

<sup>1</sup> Public shareholders only, approval prior to a company's becoming public is insufficient.

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Board Accountability**<br> **(cont'd)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; absolute level and sudden changes);<br> - A commitment to put any renewal to a shareholder vote, and<br> - Other factors as relevant. |
|  | &nbsp;&nbsp; **Problematic Audit Related Practices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **against/withhold** from Audit Committee members if:<br>- The non-audit fees paid to the auditor are excessive (defined as more than 50 percent of total audit fees);<br> - The company receives an adverse opinion on the company's financial statements from the auditor;<br> - There is pervasive evidence that the company entered into an inappropriate indemnification agreement with its auditor that limits the ability of the company, or its shareholders, to pursue legitimate legal recourse against the audit firm.<br>Vote **case-by-case** on members of the Audit Committee and/or the full board if poor accounting practices are identified that rise to a level of serious concern, such as; fraud, misapplication of GAAP, and material weaknesses identified in Section 404 disclosures. |
|  | &nbsp;&nbsp; **Problematic Compensation Practices** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In the absence of an Advisory Vote on Executive Compensation ballot item, or, in egregious situations, vote **against/withhold** from the Compensation Committee and potentially the full board if:<br> - There is a significant misalignment between CEO pay and company performance.<br> - The company has problematic pay practices including options backdating, excessive perks and overly generous employment contracts etc.<br> - The board exhibits a significant level of poor communication and responsiveness to shareholders<br> - The company reprices underwater options for stock, cash, or other consideration<br> - The company fails to include a Say on Pay ballot item when required under SEC provisions, or under the company's declared frequency of say on pay; or<br> - The company fails to include a Frequency of Say on Pay ballot item when required under SEC provisions.<br>Generally vote **against** members of the board committee responsible for approving/setting non-employee director compensation if there is a pattern (i.e. two or more years) of awarding excessive non-employee director compensation without disclosing a compelling rationale or other mitigating factors. |
|  | &nbsp;&nbsp; **Problematic Pledging of Company Stock** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **against** the members of the committee that oversees risks related to pledging, or the full board, where a significant level of pledged company stock by executives or directors raises concerns. The following factors will be considered:<br>- The presence of an anti-pledging policy, disclosed in the proxy statement, that prohibits future pledging activity;<br> - The magnitude of aggregate pledged shares in terms of |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Board Accountability (cont'd)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; total common shares outstanding, market value, and trading volume;<br> - Disclosure of progress or lack thereof in reducing the magnitude of aggregate pledged shares over time;<br> - Disclosure in the proxy statement that shares subject to stock ownership and holding requirements do not include pledged company stock; and<br> - Any other relevant factors. |
|  | &nbsp;&nbsp; **Material Environmental, Social and Governance (ESG) Failures** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote on a **case-by-case** basis regarding the following; under extraordinary circumstances, vote **against/withhold** from directors individually, committee members, or potentially the entire board due to:<br> - A lack of sustainability reporting in the company's public documents and/or website in conjunction with a failure to adequately manage or mitigate environmental, social and governance (ESG) risks.<br> - Material failures of governance, stewardship, risk oversight, or fiduciary responsibilities at the company, including failure to adequately guard against or manage ESG risks, with particular attention to sustainability crisis management.<br> - Failure to replace management as appropriate<br> - Egregious actions related to the director(s)' service on other boards that raise substantial doubt about his or her ability to effectively oversee management and serve the best interests of shareholders at any company.<br>\* Examples of failure of risk oversight include but are not limited to: bribery; large or serial fines or sanctions from regulatory bodies; demonstrably poor risk oversight of environmental and social issues, including climate change; significant environmental incidents including spills and pollution; large scale or recurring workplace fatalities, injuries health and safety or discrimination incidents; significant adverse legal judgments or settlements; or hedging of company stock. |
|  | &nbsp;&nbsp; **Climate Risk Mitigation and Net Zero** | For companies that are significant GHG emitters,<sup>2</sup> through its operations or value chain, **generally vote against or withhold** from the incumbent chair of the responsible committee (or other directors on a case-by-case basis) in cases where Glass Lewis determines that the company is not taking the minimum steps needed to be aligned with a Net Zero by 2050 trajectory.<br>Minimum steps needed to be considered to be aligned with a Net Zero by 2050 trajectory are (all minimum criteria will be required to be in alignment with policy):<br> ▪ The company has detailed disclosure of climate-related risks, such as according to the framework established by the Task Force on Climate-Related Financial Disclosures (TCFD), including:<br> <sup>∎</sup> Board governance measures;<br> <sup>∎</sup> Corporate strategy;<br> <sup>∎</sup> Risk management analyses; and<br> <sup>∎</sup> Metrics and targets.<br> <sup>∎</sup> The company has declared a Net Zero target by 2050 or sooner and the target includes scope 1, 2, and relevant scope 3 emissions.<br> <sup>∎</sup> The company has set a medium-term target for reducing its GHG |

---

<sup>2</sup> Defined by the Glass Lewis ESG Thematic Policy.

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Board Accountability (cont'd)** |  | emissions.<br> Expectations about what constitutes "minimum steps needed to be aligned with a Net Zero by 2050 trajectory" will increase over time.<br>|
|  | &nbsp;&nbsp; **Unilateral Bylaw/Charter Amendments** | Generally vote **against or withhold** from directors individually, committee members, or the entire board (except new nominees, who should be considered case-by-case) if the board amends the company's bylaws or charter without shareholder approval in a manner that materially diminishes shareholders' rights or that could adversely impact shareholders, considering the following factors:<br>- The board's rationale for adopting the bylaw/charter amendment without shareholder ratification<br> - Disclosure by the company of any significant engagement with shareholders regarding the amendment;<br> - The level of impairment of shareholders' rights caused by the board's unilateral amendment to the bylaws/charter;<br> - The board's track record with regard to unilateral board action on bylaw/charter amendments or other entrenchment provisions;<br> - The company's ownership structure;<br> - The company's existing governance provisions;<br> - The timing of the board's amendment to the bylaws/charter in connection with a significant business development; and,<br> - Other factors, as deemed appropriate, that may be relevant to determine the impact of the amendment on shareholders. |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unless the adverse amendment is reversed or submitted to a binding shareholder vote, in subsequent years vote **case-by-case**on director nominees. Generally vote against (except new nominees, who should be considered case-by-case) if the directors:<br> - Adoptedsupermajority vote requirements to amend the bylaws or charter; or<br> - Eliminatedshareholders' ability to amend bylaws.<br>|
|  | **Problematic Governance Structure - Newly Public Companies** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; For companies that hold or held their first annual meeting<sup>3</sup> of public shareholders after Feb. 1, 2015, generally vote **against or withhold** from directors individually, committee members, or the entire board (except new nominees, who should be considered case-by-case) if, prior to or in connection with the company's public offering, the company or its board adopted bylaw or charter provisions materially adverse to shareholder rights:<br>- Supermajorityvote requirements to amend the bylaws or charter; <br>- Aclassified board structure;<br> - Otheregregious provisions. |

---

<sup>3</sup> Includes companies that emerge from bankruptcy, SPAC transactions, spin-offs, direct listings, and those who complete a traditional initial public offering.

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Board Accountability (cont'd)** |  | <br> A provision which specifies that the problematic structure(s) will be sunset within seven years of the date of going public will be considered a mitigating factor.<br>Unless the adverse provision and/or problematic capital structure is reversed or removed, vote **case-by-case** on director nominees in subsequent years. |
|  | &nbsp;&nbsp; **Management Proposals to Ratify Existing Charter or Bylaw Provisions** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **against/withhold** from individual directors, members of the governance committee, or the full board, where boards ask shareholders to ratify existing charter or bylaw provisions considering the following factors:<br> - The presence of a shareholder proposal addressing the same issue on the same ballot;<br> - The board's rationale for seeking ratification;<br> - Disclosure of actions to be taken by the board should the ratification proposal fail;<br> - Disclosure of shareholder engagement regarding the board's ratification request;<br> - The level of impairment to shareholders' rights caused by the existing provision;<br> - The history of management and shareholder proposals on the provision at the company's past meetings;<br> - Whether the current provision was adopted in response to the shareholder proposal;<br> - The company's ownership structure; and<br> - Previous use of ratification proposals to exclude shareholder proposals. |
|  | **Restrictions on Shareholders' Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Generally vote **against** or withhold from members of the governance committee if:<br> - The company's governing documents impose undue restrictions on shareholders' ability to amend the bylaws. Such restrictions include, but are not limited to: outright prohibition on the submission of binding shareholder proposals, or share ownership requirements or time holding requirements in excess of SEC Rule 14a-8. Vote against on an ongoing basis. |
|  | **Stakeholder Governance** | **Generally vote for** proposals seeking nomination of stakeholder representatives to the board, seeking to improve stakeholder voice at the board level, or seeking related feasibility studies or disclosure.<br> **Generally vote for** proposals seeking alignment of corporate policies and practices with public company statements or related disclosures.<br>|
| &nbsp;&nbsp;&nbsp;**Say on Climate** | **Say on Climate** | Vote **case-by-case** on management proposals seeking approval of the company's climate transition action plan (so-called "Say on Climate" proposals) taking into account the completeness and rigor of the plan based on evaluation of plan and alignment with Domini Climate Transition Plan expectations, including:<br> 1. Absolute (vs intensity) GHG emissions reduction targets and reporting<br> 2. Near-term quantitative GHG targets (2030)<br> 3. Explicit business model change strategies<br> 4. Capital expenditures, and research and development |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Say on Climate**<br> **(cont'd)** | alignment strategies and goals and evidence of progress toward the goals<br> 5. Climate-related physical risk assessments<br> 6. Just transition strategies and programs regarding workers, communities and customers. |
| &nbsp;&nbsp;&nbsp; **Board Responsiveness** | Vote **case-by-case** on individual directors, committee members, or the entire board of directors as appropriate if: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed outreach efforts by the board to shareholders in the wake of the vote;<br> - Rationale provided in the proxy statement for the level of implementation;<br> - The subject matter of the proposal;<br> - The level of support for and opposition to the resolution in past meetings;<br> - Actions taken by the board in response to the majority vote and its engagement with shareholders;<br> - The continuation of the underlying issue as a voting item on the ballot (as either shareholder or management proposals); and<br> - Other factors as appropriate.<br> - The board failed to act on takeover offers where the majority of shares are tendered;<br> - At the previous board election, any director received more than 50 percent withhold/against votes of the shares cast and the company has failed to address the issue(s) that caused the high withhold/against vote.<br>Vote **case-by-case** on Compensation Committee members (or, in exceptional cases, the full board) and the Say on Pay proposal if:<br> - The company's previous say-on-pay received the support of less than 70 percent of votes cast. Factors that will be considered are:<br> - The company's response, including:<br> o Disclosure of engagement efforts with major institutional investors regarding the issues that contributed to the low level of support (including the timing and frequency of engagements and whether independent directors participated);<br> o Disclosure of the specific concerns voiced by dissenting shareholders that led to the say-on-pay opposition;<br> o Disclosure of specific and meaningful actions taken to address shareholders' concerns;<br> - Other recent compensation actions taken by the company;<br> - Whether the issues raised are recurring or isolated;<br> - The company's ownership structure; and<br> - Whether the support level was less than 50 percent, which would warrant the highest degree of responsiveness.<br>The board implements an advisory vote on executive compensation on a less frequent basis than the frequency that received the plurality of votes cast. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Director Independence** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **against/withhold** non-independent chair.<br> Vote **against/withhold** non-independent directors when board is not majority independent.<br> Markets with Employee Representatives (as identified by Glass Lewis):<br> Vote **against/withhold** non-independent directors when board is not majority independent (excluding Employee Representatives from the independence calculation)<br>Vote **against or withhold** from non-independent directors (Executive Directors and Non-Independent Non-Executive Directors when:<br>- The company lacks an audit, compensation, or nominating committee so that the full board functions as that committee; or<br> - The non-independent director serves on the audit, compensation, or nominating committee; or<br> - The company lacks a formal nominating committee, even if the board attests that the independent directors fulfill the functions of such a committee.<br> - Directors serving on the compensation committee that also serve as CEOs (of a public or, where information is available, private for-profit company)  |
| &nbsp;&nbsp;&nbsp; **Director Competence<sup>4</sup>**<br>**Director Competence (cont'd)** | **Board**<br> **Composition**<br> In order to effectively fulfill responsibilities to shareholders, we expect boards to have a varied and broad range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity), and to demonstrate progress with respect to increasing the board's range of competencies.<br>To evaluate board competency, we seek and evaluate disclosure of self-disclosed identity characteristics, board recruitment processes and procedures, board 'skills matrix', and diversity policy.<br>In markets where data is available:<br>- Vote **against** all Nominating and Governance committee members (or, absent such committee, the full board) when board composition does not meet legal requirements in applicable markets or, if no legal requirements apply, global best practice,<sup>5</sup> with respect to having a varied and broad range of skills, backgrounds, and experiences, including personal characteristics.<br>- Vote **against** the full slate of nominees when the board composition does not meet legal requirements in applicable markets or, if no legal requirements apply, falls in the bottom half of performers with respect to having a varied and broad range of skills, backgrounds, and experiences, including personal characteristics.<br>- Vote **against** all Nominating and Governance committee members (or, absent such committee, the full board) when the board fails to provide adequate disclosure on its recruitment processes and procedures, its skills matrix, its diversity policy, or board composition. |

---

<sup>4</sup> Classification of Directors is based on definitions in Glass Lewis ESG Thematic Policy.

<sup>5</sup> Based on global and market board composition data provided by Glass Lewis.

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Director Competence<br>(cont'd)** | **Attendance at**<br> **Board and**<br> **Committee**<br> **Meetings** | **Generally vote against/withhold** from directors (except new nominees) who attend less than 75 percent of the aggregate of their board and committee meetings for the period for which they served, unless an acceptable reason for absences is disclosed in the proxy or another SEC filing. New nominees who served for only part of the fiscal year are generally exempted from the attendance policy.<br>Acceptable reasons for director absences are generally limited to the following: medical issues/illness; family emergencies; and if the director's total service was three meetings or fewer and the director missed only one meeting.<br>In cases of chronic poor attendance (i.e. less than 75%) without reasonable justification, in addition to voting **against** the director(s) with poor attendance, generally vote **against** or withhold from appropriate members of the nominating/governance committees or the full board.<br>If the proxy disclosure is unclear and insufficient to determine whether a director attended at least 75 percent of the aggregate of his/her board and committee meetings during his/her period of service, vote **against/withhold** from the director(s) in question.<br>|
| &nbsp;&nbsp;&nbsp;**Director Competence<br>(cont'd)** | **Overboarded**<br> **Directors** | <br> **Generally vote against or withhold** from individual directors who: - Sit on more than four public company boards; or - Are CEOs (of a public or, where information is available, private for-profit company) companies who sit on the boards of more than two public companies besides their own—withhold only at their outside boards. <br>|

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Board-Related |  |
| &nbsp;&nbsp;&nbsp;**Classification/ <br>Declassification of<br>the Board** | Vote **for** proposals to repeal classified boards and to elect all directors annually.<br>Vote **against** proposals to classify (stagger) the board of directors. |
| &nbsp;&nbsp;&nbsp;**Majority Vote<br>Threshold for<br>Director Elections** | Generally vote **for** management proposals to adopt a majority of vote cast standard for directors in uncontested elections.<br> Vote **against** if no carve-out for plurality in contested elections is included. |
| &nbsp;&nbsp;&nbsp;**Cumulative Voting** | Generally vote **for** elimination of cumulative voting or **against** shareholder proposals to restore or provide for cumulative voting unless voting at a controlled company (insider voting power >50%) |
| &nbsp;&nbsp;&nbsp;**Director and<br>Officer Liability<br>Protection** | Vote **against** proposals to limit or eliminate entirely director and officer liability for: (i) a breach of the duty of care, (ii) acts or omissions not in good faith or involving intentional misconduct or knowing violations of the law, (iii) acts involving the unlawful purchases or redemptions of stock, (iv) the payment of unlawful dividends, or (v) the receipt of improper personal benefits. |
| &nbsp;&nbsp;&nbsp;**Director and<br>Officer<br>Indemnification** | Vote **against** indemnification proposals that would expand coverage beyond just legal expenses to acts, such as negligence, that are more serious violations of fiduciary obligations than mere carelessness.<br>Vote **against** proposals that would expand the scope of indemnification to provide for mandatory indemnification of company officials in connection with acts that previously the company was permitted to provide indemnification for at the discretion of the company's board (i.e., "permissive indemnification") but that previously the company was not required to indemnify. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Director and**<br> **Officer Indemnification**<br> **(cont'd)** | Vote **for** only those proposals that provide such expanded coverage in cases when a director's or officer's legal defense was unsuccessful if: (i) the director was found to have acted in good faith and in a manner that the director reasonably believed was in the best interests of the company, and (ii) only if the director's legal expenses would be covered. |
| &nbsp;&nbsp;&nbsp; **Shareholder Ability**<br> **to Remove**<br> **Directors/Fill Vacancies** | Vote **against** proposals that provide that directors may be removed only for cause.<br>Vote **for** proposals to restore shareholder ability to remove directors with or without cause.<br>Vote **against** proposals that provide that only continuing directors may elect replacements to fill board vacancies.<br>Vote **for** proposals that permit shareholders to elect directors to fill board vacancies. |
| &nbsp;&nbsp;&nbsp;**Board Size** | Vote **for** proposals that seek to limit the size of the board to a reasonable number (5-15); generally vote **against** proposals to change the size of the board solely as a cost-cutting measure. Vote **case-by-case** on proposals that seek to change the size or range of the board. Vote **against** proposals that give management the ability to alter the size of the board without shareholder approval. |
| &nbsp;&nbsp;&nbsp;**Establish/Amend Nominee Qualifications** | Vote **case-by-case** on proposals that establish or amend director qualifications. Votes should be based on how reasonable the criteria are and to what degree they may preclude dissident nominees from joining the board. |
| &nbsp;&nbsp;&nbsp;**Term/Tenure and Age Limits** | Generally vote **for** reasonable limits to tenure and mandatory retirement ages, considering all appropriate context. |
| &nbsp;&nbsp;&nbsp; Board-Related Shareholder Proposals/Initiatives | &nbsp;&nbsp;&nbsp; Board-Related Shareholder Proposals/Initiatives |
| &nbsp;&nbsp;&nbsp; **Proxy Contests-**<br> **Voting for Director Nominees in**<br> **Contested Elections** | Vote**case-by-case** on the election of directors in contested elections, considering the following factors: <br>- Long-term financial performance of the target company relative to its industry; <br>- Management's track record; <br>- Background to the proxy contest; <br>- Qualifications of the director nominees (both slates); <br>- Strategic plan of dissident slate and quality of critique against management; <br>- Likelihood that the proposed goals and objectives can be achieved (both slates); <br>- Stock ownership positions; <br>- Impact on stakeholders, such as job loss, community lending, equal opportunity, and impact on environment<br>In the case of candidates nominated pursuant to proxy access, vote **case-by-case** considering any applicable factors listed above or additional factors which may be relevant, including those that are specific to the company, to the nominee(s) and/or to the nature of the election (such as whether or not there are more candidates than board seats). |
| &nbsp;&nbsp;&nbsp;**Annual Election (Declassification) of the Board** | Vote **for** shareholder proposals to repeal classified (staggered) boards and to elect all directors annually.<br>Vote **against** proposals to classify the board. |
| &nbsp;&nbsp;&nbsp;**Majority Threshold Voting Shareholder Proposals** | Vote **for** precatory and binding resolutions requesting that the board change the company's bylaws to stipulate that directors need to be elected with an affirmative majority of votes cast, provided it does not conflict with the state law where the company is incorporated. Binding resolutions need to allow for a carve-out for a plurality vote standard when there are more nominees than board seats. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Majority of Independent Directors** | Vote **for** shareholder proposals asking that a majority or more of directors be independent unless the board composition already meets the proposed threshold by Glass Lewis's definition of independent outsider. |
| &nbsp;&nbsp;&nbsp;**Majority of Independent Directors** | <br> Vote **for** shareholder proposals to strengthen the definition of independence for board directors. |
| &nbsp;&nbsp;&nbsp;**Establishment of Independent Committees** | Vote **for** shareholder proposals asking that board audit, compensation, and/or nominating committees be composed exclusively of independent directors. |
| &nbsp;&nbsp;&nbsp;**Independent Board Chair** | Vote **for** shareholder proposals that would require the board chair to be independent of management. |
| &nbsp;&nbsp;&nbsp;**Establishment of Board Committees** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Generally vote for** shareholder proposals to establish a new board committee to address broad corporate policy topics or to provide a forum for ongoing dialogue on issues such as the environment, human or labor rights, shareholder relations, occupational health and safety, etc. when the formation of such committees appears to be a potentially effective method of protecting or enhancing shareholder value. In evaluating such proposals, the following factors will be considered: <br>- Existing oversight mechanisms (including current committee structure) regarding the issue for which boardoversight is sought; <br>- Level of disclosure regarding the issue for which board oversight is sought; <br>- Company performance related to the issue for which board oversight is sought; <br>- Board committee structure compared to that of other companies in its industry sector; and <br>- The scope and structure of the proposal. |
| &nbsp;&nbsp;&nbsp;**Employee Representation on Board** | Vote **for** shareholder proposals to appoint an employee nominee to the Board. |
| &nbsp;&nbsp;&nbsp;**Establish/Amend Nominee Qualifications** | Vote **case-by-case** on proposals that establish or amend director qualifications. Votes should be based on how reasonable the criteria are and to what degree they may preclude dissident nominees from joining the board. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **case-by-case** on shareholder resolutions seeking a director nominee candidate who possesses a particular subject matter expertise, considering:<br> - The company's board committee structure, existing subject matter expertise, and board nomination provisions relative to that of its peers;<br> - The company's existing board and management oversight mechanisms regarding the issue for which board oversight is sought;<br> - The company's disclosure and performance relating to the issue for which board oversight is sought and any significant related controversies; and<br> - The scope and structure of the proposal.<br>|
| &nbsp;&nbsp;&nbsp;**Board Policy on Shareholder Engagement** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **for** shareholders proposals requesting that the board establish an internal mechanism/process, which may include a committee, in order to improve communications between directors and shareholders, unless the company has the following features, as appropriate:<br> - Established a communication structure that goes beyond the exchange requirements to facilitate the exchange of information between shareholders and members of the board;<br> - Effectively disclosed information with respect to this structure to its shareholders;<br> - The company has not ignored majority-supported shareholder proposals or a majority withhold vote on a director nominee; and<br> - The company has an independent chairperson or a lead director. This individual must be made available for periodic consultation and direct communication with major shareholders. |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Proxy Access** | Generally vote **for** management and shareholder proposals for proxy access with the following provisions: - Ownership threshold: maximum requirement not more than three percent (3%) of the voting power; - Ownership duration: maximum requirement not longer than three (3) years of continuous ownership for each member of the nominating group; - Aggregation: minimal or no limits on the number of shareholders permitted to form a nominating group; - Cap: cap on nominees of generally twenty-five percent (25%) of the board. Review for reasonableness any other restrictions on the right of proxy access.<br>Generally vote **against** proposals that are more restrictive than these guidelines. | Generally vote **for** management and shareholder proposals for proxy access with the following provisions: - Ownership threshold: maximum requirement not more than three percent (3%) of the voting power; - Ownership duration: maximum requirement not longer than three (3) years of continuous ownership for each member of the nominating group; - Aggregation: minimal or no limits on the number of shareholders permitted to form a nominating group; - Cap: cap on nominees of generally twenty-five percent (25%) of the board. Review for reasonableness any other restrictions on the right of proxy access.<br>Generally vote **against** proposals that are more restrictive than these guidelines. |
| &nbsp;&nbsp;&nbsp;**Term/Tenure and Age Limits** | Generally vote **for** shareholder proposals seeking reasonable limits to tenure and mandatory retirement ages, considering all appropriate context. | Generally vote **for** shareholder proposals seeking reasonable limits to tenure and mandatory retirement ages, considering all appropriate context. |
| &nbsp;&nbsp;&nbsp;**CEO Succession Planning** | Generally vote **for** proposals seeking disclosure on a CEO succession planning policy, considering the scope of the request and the company's existing disclosure on its current CEO succession planning process. | Generally vote **for** proposals seeking disclosure on a CEO succession planning policy, considering the scope of the request and the company's existing disclosure on its current CEO succession planning process. |
| &nbsp;&nbsp;&nbsp;**Vote No Campaigns** | In cases where companies are targeted in connection with public "vote no" campaigns, evaluate director nominees **case-by-case**under the existing governance policies for voting on director nominees in uncontested elections. Take into consideration the arguments submitted by shareholders and other publicly available information. | In cases where companies are targeted in connection with public "vote no" campaigns, evaluate director nominees **case-by-case**under the existing governance policies for voting on director nominees in uncontested elections. Take into consideration the arguments submitted by shareholders and other publicly available information. |
| &nbsp;&nbsp;&nbsp;**Stakeholder Governance** | Generally vote **for** proposals seeking nomination of stakeholder representatives to the board, seeking to improve stakeholder voice at the board level, or seeking related feasibility studies or disclosure.<br> Generally vote **for** proposals seeking alignment of corporate policies with public company statements and practices, or related disclosures. | Generally vote **for** proposals seeking nomination of stakeholder representatives to the board, seeking to improve stakeholder voice at the board level, or seeking related feasibility studies or disclosure.<br> Generally vote **for** proposals seeking alignment of corporate policies with public company statements and practices, or related disclosures. |
| &nbsp;&nbsp;&nbsp;Ratification of Auditors | &nbsp;&nbsp;&nbsp;Ratification of Auditors | &nbsp;&nbsp;&nbsp;Ratification of Auditors |
| &nbsp;&nbsp;&nbsp;**Auditor Ratification** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **for** proposals to ratify auditors, unless any of the following apply:<br> - The non-audit fees paid represent 25 percent or more of the total fees paid to the auditor;<br> - An auditor has a financial interest in or association with the company, and is therefore not independent;<br> - There is reason to believe that the independent auditor has rendered an opinion that is neither accurate nor indicative of the company's financial position; or<br> - Poor accounting practices are identified that rise to a serious level of concern, such as: fraud; misapplication of GAAP; and material weaknesses identified in Section 404 disclosures. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **for** proposals to ratify auditors, unless any of the following apply:<br> - The non-audit fees paid represent 25 percent or more of the total fees paid to the auditor;<br> - An auditor has a financial interest in or association with the company, and is therefore not independent;<br> - There is reason to believe that the independent auditor has rendered an opinion that is neither accurate nor indicative of the company's financial position; or<br> - Poor accounting practices are identified that rise to a serious level of concern, such as: fraud; misapplication of GAAP; and material weaknesses identified in Section 404 disclosures. |
| &nbsp;&nbsp;&nbsp;**Auditor-Related Shareholder Proposals** | **Auditor Independence** | Vote **for** shareholder proposals to allow shareholders to vote on auditor ratification.<br>Vote **for** proposals that ask a company to adopt a policy on auditor independence.<br>Vote **for** proposals that seek to limit the non-audit services provided by the company's auditor. |
|  | **Auditor Rotation** | Vote **for** shareholder proposals to rotate company's auditor every five years or more. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Takeover Defenses / Shareholder Rights | &nbsp;&nbsp;&nbsp;Takeover Defenses / Shareholder Rights |
| &nbsp;&nbsp;&nbsp;Takeover Defenses and Shareholder Rights-Related Management Proposals | &nbsp;&nbsp;&nbsp;Takeover Defenses and Shareholder Rights-Related Management Proposals |
| &nbsp;&nbsp;&nbsp; **Poison Pills**<br> **(Shareholder Rights Plans)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **case-by-case** on management proposals on poison pill ratification. The rights plan should have the following attributes:<br> - No lower than a 20% trigger, flip-in or flip-over provision;<br> - A term of no more than three years;<br> - No dead-hand, slow-hand, no-hand or similar feature that limits the ability of a future board to redeem the pill;<br> - Shareholder redemption feature (qualifying offer clause): if the board refuses to redeem the pill 90 days after a qualifying offer is announced, 10 percent of the shares may call a special meeting or seek a written consent to vote on rescinding the pill; and<br> - The rationale for adopting the pill should be thoroughly explained by the company. In examining the request for the pill, the company's existing governance structure, including: board independence, existing takeover defenses, and any problematic governance concerns should be taken into consideration. |
| &nbsp;&nbsp;&nbsp;**Management Proposals to Ratify Existing Charter or Bylaw Provisions** | Generally vote **against** management proposals to ratify provisions of the company's existing charter or bylaws, unless these governance provisions align with best practice. In addition, voting **against/withhold** from individual directors, members of the governance committee, or the full board may be warranted, considering:<br> › The presence of a shareholder proposal addressing the same issue on the same ballot;<br> › The board's rationale for seeking ratification;<br> › Disclosure of actions to be taken by the board should the ratification proposal fail;<br> › Disclosure of shareholder engagement regarding the board's ratification request;<br> › The level of impairment to shareholders' rights caused by the existing provision;<br> › The history of management and shareholder proposals on the provision at the company's past meetings; <br>› Whether the current provision was adopted in response to the shareholder proposal; <br>› The company's ownership structure; and <br>› Previous use of ratification proposals to exclude shareholder proposals.<br>|
| &nbsp;&nbsp;&nbsp;**Net Operating Loss (NOL) Poison Pills/Protective Amendments** | Vote **against** proposals to adopt a poison pill for the state purpose of protecting a company's NOLs if the term of the pill would exceed the shorter of 3 years and the exhaustion of the NOL. |
| &nbsp;&nbsp;&nbsp;**Net Operating Loss (NOL) Poison Pills/Protective Amendments** | <br> Vote **case-by-case** on management proposals for poison pill ratification, considering the following factors, if the term of the pill would be the shorter of 3 years (or less) and the exhaustion of the NOL:<br> - the ownership threshold to transfer,<br> - the value of the NOLs, (iii) shareholder protection mechanisms,<br> - the company's existing governance structure, and<br> - any other relevant factors. |
| &nbsp;&nbsp;&nbsp;**Net Operating Loss (NOL) Poison Pills/Protective Amendments** | <br> Vote **against** proposals to adopt a protective amendment for the stated purpose of protecting a company's NOLs if the effective term of the protective amendment would exceed the shorter of 3 years and the exhaustion of the NOL. |
| &nbsp;&nbsp;&nbsp;**Net Operating Loss (NOL) Poison Pills/Protective Amendments** | <br> Vote **case-by-case**, considering the following factors, for management proposals to adopt an NOL protective amendment that would remain in effect for the shorter of 3 years (or less) and the exhaustion of the NOL: (i) the ownership threshold to transfer, (ii) the value of the NOLs, (iii) shareholder protection mechanisms, (iv) the company's existing governance structure, and (v) any other relevant factors. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Supermajority Shareholder Vote Requirements** | Vote **for** proposals to reduce supermajority shareholder vote requirements for charter amendments, mergers and other significant business combinations. For companies with shareholder(s) who own a significant amount of company stock, vote**case-by-case**, taking into account: a) ownership structure; b) quorum requirements; and c) supermajority vote requirements.<br>Vote **against** proposals to require a supermajority shareholder vote for charter amendments, mergers and other significant **business combinations**. |
| &nbsp;&nbsp;&nbsp; **Shareholder Ability to Call Special Meeting** | Vote **for** proposals that provide shareholders with the ability to call special meetings taking into account: a) shareholders' current right to call special meetings, b) minimum ownership threshold necessary to call special meetings (10% preferred), c) the inclusion of exclusionary or prohibitive language, d) investor ownership structure, and e) shareholder support of and management's response to previous shareholder proposals.<br>Vote **against** proposals to restrict or prohibit shareholders' ability to call special meetings. |
| &nbsp;&nbsp;&nbsp; **Shareholder Ability to Act by Written Consent** | Generally vote **against** proposals to restrict or prohibit shareholders' ability to take action by written consent.<br>Vote **for** proposals to allow or facilitate shareholder action by written consent, taking into consideration: a) shareholders' current right to act by written consent, b) consent threshold, c) the inclusion of exclusionary or prohibitive language, d) Investor ownership structure, and e) shareholder support of and management's response to previous shareholder proposals.<br>Vote **case-by-case** on shareholder proposals if, in addition to the considerations above, the company has the following governance and antitakeover provisions; a) an unfettered right for shareholders to call special meetings at a 10 percent threshold; b) a majority vote standard in uncontested director elections; c) no non-shareholder approved pill, and; d) an annually elected board. |
| &nbsp;&nbsp;&nbsp; **Advance Notice Requirements for Shareholder Proposals/ Nominations** | Vote **case-by-case** basis on advance notice proposals, giving support to those proposals which allow shareholders to submit proposals/nominations as close to the meeting date as reasonably possible and within the broadest window possible, recognizing the need to allow sufficient notice for company, regulatory and shareholder review.<br>To be reasonable, the company's deadline for shareholder notice of a proposal/nominations must be no earlier than 120 days prior to the anniversary of the previous year's meeting and have a submittal window of no shorter than 30 days from the beginning of the notice period (also known as a 90-120 day window).The submittal window is the period under which shareholders must file their proposals/nominations prior to the deadline.<br>In general, support additional efforts by companies to ensure full disclosure in regard to a proponent's economic and voting position in the company so long as the informational requirements are reasonable and aimed at providing shareholders with the necessary information to review such proposals. |
| &nbsp;&nbsp;&nbsp; **Fair Price Provisions** | Vote **case-by-case** on proposals to adopt fair price provisions evaluating factors such as the vote required to approve the proposed acquisition, the vote required to repeal the fair price provision, and the mechanism for determining the fair price.<br>Generally, vote **against** fair price provisions with shareholder vote requirements greater than a majority of disinterested shares. |
| &nbsp;&nbsp;&nbsp; **Greenmail** | Vote **for** proposals to adopt anti-greenmail charter or bylaw amendments or otherwise restrict a company's ability to make greenmail payments.<br>Review on a case-by-case basis anti-greenmail proposals when they are bundled with other charter or bylaw amendments. |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Confidential**<br> **Voting** | Vote **for** management proposals to adopt confidential voting. | Vote **for** management proposals to adopt confidential voting. |
| &nbsp;&nbsp;&nbsp; **Control Share Acquisition**<br> **Provisions** | Vote **for** proposals to opt out of control share acquisition statutes unless doing so would enable the completion of a takeover that would be detrimental to shareholders.<br>Vote **against** proposals to amend the charter to include control share acquisition provisions.<br>Vote **for** proposals to restore voting **rights to the control shares.** | Vote **for** proposals to opt out of control share acquisition statutes unless doing so would enable the completion of a takeover that would be detrimental to shareholders.<br>Vote **against** proposals to amend the charter to include control share acquisition provisions.<br>Vote **for** proposals to restore voting **rights to the control shares.** |
| &nbsp;&nbsp;&nbsp; **Control Share**<br> **Cash-Out**<br> **Provisions** | Vote **for** proposals to opt out of control share cash-out statutes. | Vote **for** proposals to opt out of control share cash-out statutes. |
| &nbsp;&nbsp;&nbsp; **Disgorgement**<br> **Provisions** | Vote **for** proposals to opt out of state disgorgement provisions. | Vote **for** proposals to opt out of state disgorgement provisions. |
| &nbsp;&nbsp;&nbsp; **State Takeover**<br> **Statutes** | Vote on a **case-by-case** basis proposals to opt in or out of state takeover statutes (including control share acquisition statutes, control share cash-out statutes, freezeout provisions, fair price provisions, stakeholder laws, poison pill endorsements, severance pay and labor contract provisions, anti-greenmail provisions, and disgorgement provisions).<br>Vote **for** opting into stakeholder protection statutes if they provide comprehensive protections for employees and community stakeholders. | Vote on a **case-by-case** basis proposals to opt in or out of state takeover statutes (including control share acquisition statutes, control share cash-out statutes, freezeout provisions, fair price provisions, stakeholder laws, poison pill endorsements, severance pay and labor contract provisions, anti-greenmail provisions, and disgorgement provisions).<br>Vote **for** opting into stakeholder protection statutes if they provide comprehensive protections for employees and community stakeholders. |
| &nbsp;&nbsp;&nbsp; **Freeze-Out**<br> **Provisions** | Vote **for** proposals to opt out of state freeze-out provisions. | Vote **for** proposals to opt out of state freeze-out provisions. |
| &nbsp;&nbsp;&nbsp; **Reincorporation**<br> **Proposals** | Vote on a**case-by-case** basis proposals to change a company's state of incorporation giving consideration to both financial and corporate governance concerns including the following:<br> - Reasons for reincorporation;<br> - Comparison of company's governance practices and provisions prior to and following the reincorporation;<br> - Comparison of corporation laws of original state and destination state.  | Vote on a**case-by-case** basis proposals to change a company's state of incorporation giving consideration to both financial and corporate governance concerns including the following:<br> - Reasons for reincorporation;<br> - Comparison of company's governance practices and provisions prior to and following the reincorporation;<br> - Comparison of corporation laws of original state and destination state.  |
| &nbsp;&nbsp;&nbsp; **Amend Bylaws**<br> **Without**<br> **Shareholder**<br> **Consent** | Vote **against** proposals giving the board exclusive authority to amend the bylaws. | Vote **against** proposals giving the board exclusive authority to amend the bylaws. |
| &nbsp;&nbsp;&nbsp; **Shareholder**<br> **Litigation Rights** |  | Vote **for** proposals giving the board the ability to amend the bylaws in addition to shareholders. |
| &nbsp;&nbsp;&nbsp; **Shareholder**<br> **Litigation Rights** | **Federal Forum Selection Provisions** | **Generally vote for** federal forum selection provisions in the charter or bylaws that specify "the district courts of the United States" as the exclusive forum for federal securities law matters, in the absence of serious concerns about corporate governance or board responsiveness to shareholders.<br> Vote **against** provisions that restrict the forum to a particular federal district court; unilateral adoption (without a shareholder vote) of such a provision will generally be considered a one-time failure under the Unilateral Bylaw/Charter Amendments policy. |

---

------

---

| | |
|:---|:---|
| **Exclusive Forum Provisions for State Law Matters** | **Generally vote for** charter or bylaw provisions that specify courts located within the state of Delaware as the exclusive forum for corporate law matters for Delaware corporations, in the absence of serious concerns about corporate governance or board responsiveness to shareholders.<br> For states other than Delaware, vote **case-by-case** on exclusive forum provisions, taking into consideration: <br>- The company's stated rationale for adopting such a provision; <br>- Disclosure of past harm from shareholder lawsuits in more than one forum; <br>- The breadth of application of the charter or bylaw provision, including the types of lawsuits to which it would apply and the definition of key terms; and <br>- Governance features such as shareholders' ability to repeal the provision at a later date (including the vote standard applied when shareholders attempt to amend the bylaws) and their ability to hold directors accountable through annual director elections and a majority vote standard in uncontested elections.<br> Generally vote **against** provisions that specify a state other than the state of incorporation as the exclusive forum for corporate law matters, or that specify a particular local court within the state; unilateral adoption of such a provision will generally be considered a one-time failure under the <u>Unilateral Bylaw/Charter Amendments</u> policy.<br>|
| **Fee Shifting** | **Generally vote against** bylaws that mandate fee-shifting whenever plaintiffs are not completely successful on the merits (i.e., in cases where the plaintiffs are partially successful).<br> Unilateral adoption of a fee-shifting provision will generally be considered an ongoing failure under the Unilateral Bylaw/Charter Amendments policy. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Takeover Defenses and Shareholder Rights-Related Shareholder Proposals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Takeover Defenses and Shareholder Rights-Related Shareholder Proposals |
| &nbsp;&nbsp;&nbsp; **Shareholder**<br> **Proposals to put**<br> **Pill to a Vote**<br> **and/or Adopt a**<br> **Pill Policy** | Vote **for** shareholder proposals requesting that the company submit its poison pill to a shareholder vote or redeem it unless the company has: 1) a shareholder approved poison pill in place, or 2) the company has adopted a policy concerning the adoption of a pill in the future specifying that the board will only adopt a shareholder rights plan if either: <br>- shareholders have approved the adoption of the plan or; <br>- the board, in its exercise of its fiduciary responsibilities, determines that it is in the best interest of shareholders under the circumstances to adopt a pill without the delay in adoption that would result from seeking stockholder approval. |
| &nbsp;&nbsp;&nbsp; **Reduce**<br> **Supermajority**<br> **Vote**<br> **Requirements** | Vote **for** shareholder proposals to lower supermajority shareholder vote requirements for charter and bylaw amendments.<br>Vote **for** shareholder proposals to lower supermajority shareholder vote requirements for mergers and other significant business combinations. |
| &nbsp;&nbsp;&nbsp; **Remove**<br> **Antitakeover**<br> **Provisions** | Vote **for** shareholder proposals that seek to remove antitakeover provisions. |
| &nbsp;&nbsp;&nbsp; **Reimbursing**<br> **Proxy**<br> **Solicitation** | Vote **case-by-case** on proposals to reimburse proxy solicitation expenses. When voting in conjunction with support of a dissident slate, vote for the reimbursement of all appropriate proxy solicitation expenses associated with the election. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Expenses** | Vote **for** shareholder proposals calling for the reimbursement of reasonable costs incurred in connection with nominating one or more candidates in a contested election where the following apply:<br> - The election of fewer than 50 percent of the directors to be elected is contested in the election;<br> - One or more of the dissident's candidates is elected; <br>- Shareholders are not permitted to cumulate their votes for directors; <br>- The election occurred, and the expenses were incurred, after the adoption of this bylaw. |
| &nbsp;&nbsp;&nbsp;**Virtual Shareholder Meetings** | **Generally vote for** management proposals allowing for the convening of shareholder meetings by electronic means, so long as they do not preclude in-person meetings. Companies are encouraged to disclose the circumstances under which virtual-only<sup>6</sup> meetings would be held, and to allow for comparable rights and opportunities for shareholders to participate electronically as they would have during an in-person meeting.<br>Vote **case-by-case** on shareholder proposals concerning virtual-only meetings, considering:<br> <sup>∎</sup> Scope and rationale of the proposal; and<br> <sup>∎</sup> Concerns identified with the company's prior meeting practices. |
| &nbsp;&nbsp;&nbsp;Miscellaneous Governance Provisions | &nbsp;&nbsp;&nbsp;Miscellaneous Governance Provisions |
| &nbsp;&nbsp;&nbsp;**Bundled Proposals** | Review on a **case-by-case** basis bundled or "conditioned" proxy proposals. |
| &nbsp;&nbsp;&nbsp;**Adjourn Meeting** | **Generally vote against** proposals to provide management with the authority to adjourn an annual or special meeting absent compelling reasons to support the proposal. |
| &nbsp;&nbsp;&nbsp;**Adjourn Meeting** | <br> Vote **for** proposals that relate specifically to soliciting votes for a merger or transaction if supporting that merger or transaction. |
| &nbsp;&nbsp;&nbsp;**Adjourn Meeting** | <br> Vote **against** proposals if the wording is too vague or if the proposal includes "other business." |
| &nbsp;&nbsp;&nbsp;**Changing Corporate Name** | Vote **for** changing the corporate name unless there is compelling evidence that the change would adversely affect shareholder value. |
| &nbsp;&nbsp;&nbsp;**Amend Quorum Requirements** | Vote **case-by-case** on proposals to reduce quorum requirements for shareholder meetings below a majority of the shares outstanding, taking into consideration:<br> <sup>∎</sup> The new quorum threshold requested;<br> <sup>∎</sup> The rationale presented for the reduction;<br> <sup>∎</sup> The market capitalization of the company (size, inclusion in indices);<br> <sup>∎</sup> The company's ownership structure;<br> <sup>∎</sup> Previous voter turnout or attempts to achieve quorum;<br> <sup>∎</sup> Any provisions or commitments to restore quorum to a majority of shares outstanding, should voter turnout improve sufficiently; and<br> <sup>∎</sup> Other factors as appropriate.<br>In general, a quorum threshold kept as close to a majority of shares outstanding as is achievable is preferred.<br>Vote **case-by-case** on directors who unilaterally lower the quorum requirements below a majority of the shares outstanding, taking into consideration the factors listed above. |
| &nbsp;&nbsp;&nbsp;**Amend Minor Bylaws** | Vote **for** bylaw or charter changes that are of a housekeeping nature (updates or corrections). |
| &nbsp;&nbsp;&nbsp;**Other Business** | **Generally vote against** other business proposals. |

---

<sup>6</sup> Virtual-only shareholder meeting" refers to a meeting of shareholders that is held exclusively using technology without a corresponding in-person meeting.

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;Capital Structure | &nbsp;&nbsp;&nbsp;Capital Structure |
| &nbsp;&nbsp;&nbsp;**Common Stock Authorization** | Proposals to increase authorized common stock are evaluated on a **case-by-case** basis, taking into account the size of the increase, the company's rationale for additional shares, the company's use of authorized shares during the last three years, and the risk to shareholders if the request is not approved. A company's need for additional shares is gauged by measuring shares outstanding and reserved as a percentage of the total number of shares currently authorized for issuance. |
|  | **Generally vote against** the requested increase in authorized capital on the basis of imprudent past use of shares if, within the past three years, the board adopted a poison pill without shareholder approval, repriced or exchanged underwater stock options without shareholder approval, or placed a substantial amount of stock with insiders at prices substantially below market value without shareholder approval. |
|  | Vote **for** proposals to increase the number of authorized common shares where the primary purpose of the increase is to issue shares in connection with a transaction on the same ballot that warrants support. |
|  | Vote **against** proposals at companies with more than one class of common stock to increase the number of authorized shares of the class of common stock that has superior voting rights. |
|  | Vote **against** proposals to increase the number of authorized common shares if a vote for a reverse stock split on the same ballot is warranted despite the fact that the authorized shares would not be reduced proportionally. |
|  | Review on a **case-by-case** basis all other proposals to increase the number of shares of common stock authorized for issue, considering company-specific factors that include past company performance and the current request.<br>|
| &nbsp;&nbsp;&nbsp;**Issue Stock for Use with Rights Plan** | Vote **against** proposals that increase authorized common stock for the explicit purpose of implementing a non-shareholder approved shareholder rights plan (poison pill).<br>|
| &nbsp;&nbsp;&nbsp;**Stock Distributions: Splits and Dividends** | Generally vote **for** management proposals to increase the common share authorization for stock split or stock dividend, provided that the effective increase in authorized shares is equal to or is less than the allowable increase calculated in accordance with Glass Lewis Benchmark Policy.<br>|
| &nbsp;&nbsp;&nbsp;**Reverse Stock Splits** | Vote **for** management proposals to implement a reverse stock split when the number of authorized shares will be proportionately reduced; The effective increase in authorized shares is equal to or less than the allowable increase calculated in accordance with Glass Lewis Benchmark Policy. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **case-by-case** proposals that do not meet either of the above conditions, taking into account the following factors:<br> - A Stock exchange notification to the company of a potential delisting;<br> - Disclosure of substantial doubt about the company's ability to continue as a going concern without additional financing;<br> - The company's rationale; or<br> - Other factors as applicable.<br>|

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Preferred Stock Authorization** | Vote **for** proposals to increase the number of authorized preferred shares where the primary purpose of the increase is to issue shares in connection with a transaction on the same ballot that warrants support. |
|  | Vote **against** proposals at companies with more than one class or series of preferred stock to increase the number of authorized shares of the class or series of preferred stock that has superior voting rights. |
|  | Vote on a**case-by-case**basis proposals to increase the number of shares of preferred stock authorized for issuance, considering company-specific factors that include past board performance and the current request. |
| &nbsp;&nbsp;&nbsp;**Blank Check Preferred Stock** | Vote **against** proposals that would authorize the creation of new classes of preferred stock with unspecified voting, conversion, dividend distribution, and other rights ("blank check" preferred stock). |
|  | <br> Vote **against** proposals to increase the number of blank check preferred stock authorized for issuance when no shares have been issued or reserved for a specific purpose. |
| &nbsp;&nbsp;&nbsp;**Blank Check Preferred Stock (cont'd)** | Vote **for** proposals to create "declawed" blank check preferred stock (stock that cannot be used as a takeover defense).<br>|
| &nbsp;&nbsp;&nbsp;**Blank Check Preferred Stock (cont'd)** | Vote **for** requests to require shareholder approval for blank check authorizations. |
| &nbsp;&nbsp;&nbsp;**Adjustments to Par Value of Common Stock** | Vote **for** management proposals to reduce the par value of common stock unless the action is being taken to facilitate an anti-takeover device or some other negative corporate governance action.<br>Vote **for** management proposals to eliminate par value. |
| &nbsp;&nbsp;&nbsp;**Unequal Voting Rights** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Generally vote against** proposals to create a new class of common stock, unless:<br> - The company discloses a compelling rationale for the dual-class capital structure, including: a) the company's auditor has concluded that there is substantial doubt about the company's ability to continue as a going concern; or b) the new class of shares will be transitory;<br> - The new class is intended for financing purposes with minimal or no dilution to current shareholders in both the short term and long term;<br> - The new class is not designed to preserve or increase the voting power of an insider or significant shareholder.<br>|
| &nbsp;&nbsp;&nbsp;**Preemptive Rights** | Review on a **case-by-case** basis proposals to create or abolish preemptive rights taking into consideration the size of the company, the characteristics of its shareholder base, and the liquidity of the stock. |
| &nbsp;&nbsp;&nbsp;**Debt Restructurings** | Review on a **case-by-case** basis proposals regarding debt restructurings. |
| &nbsp;&nbsp;&nbsp;**Debt Restructurings** | <br> Vote **for** the debt restructuring if it is expected that the company will file for bankruptcy if the transaction is not approved. |
| &nbsp;&nbsp;&nbsp;**Share Repurchase Programs** | Vote **for** management proposals to institute open-market share repurchase plans in which all shareholders may participate on equal terms, or to grant the board authority to conduct open-market repurchases, in the absence of company-specific concerns regarding: Greenmail, The use of buybacks to inappropriately manipulate incentive compensation metrics, Threats to the company's long-term viability, or Other company-specific factors as warranted.<br>Vote **case-by-case** on proposals to repurchase shares directly from specified shareholders, balancing the stated rationale against the possibility for the repurchase authority to be misused, such as to repurchase shares from insiders at a premium to market price. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Conversion of**<br> **Securities** | Vote **case-by-case** on proposals regarding conversion of securities, taking into account the dilution to existing shareholders, the conversion price relative to market value, financial issues, control issues, termination penalties, and conflicts of interest.<br>Vote **for** the conversion if it is expected that the company will be subject to onerous penalties or will be forced to file for bankruptcy if the transaction is not approved. |
| &nbsp;&nbsp;&nbsp;**Recapitalization** | Vote **case-by-case** on recapitalizations (reclassifications of securities), taking into account whether capital structure is simplified, liquidity is enhanced, fairness of conversion terms, impact on voting power and dividends, reasons for the reclassification, conflicts of interest, and other alternatives considered; Vote **against** dual class capital structures; Vote **for** proposals to seek approval of recapitalization plan for all stock to have one vote per share. |
| &nbsp;&nbsp;&nbsp;**Tracking Stock** | Vote**case-by-case** on the creation of tracking stock, weighing the strategic value of the transaction against such factors as: adverse governance changes, excessive increases in authorized capital stock, unfair method of distribution, diminution of voting rights, adverse conversion features, negative impact on stock option plans, and alternatives such as spin-offs. |
| &nbsp;&nbsp;&nbsp;Executive and Director Compensation | &nbsp;&nbsp;&nbsp;Executive and Director Compensation |
| &nbsp;&nbsp;&nbsp;Executive Pay | &nbsp;&nbsp;&nbsp;Executive Pay |
| &nbsp;&nbsp;&nbsp; **Advisory Votes on**<br> **Executive**<br> **Compensation -**<br> **Management Say-**<br> **on-Pay Proposals** | Vote on a **case-by-case** basis management proposals seeking advisory votes on executive compensation |
| &nbsp;&nbsp;&nbsp; **Advisory Votes on**<br> **Executive**<br> **Compensation -**<br> **Management Say-**<br> **on-Pay Proposals** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Generally vote **against** unreasonable compensation packages. <br>Vote **against** if:<br> - CEO compensation exceeds $10 million per year;<br> - Misalignment between CEO pay and company performance;<br> - The company maintains problematic pay practices; or<br> - The board exhibits a significant level of poor communication and responsiveness to shareholders. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **against** or **withhold** from the members of the Compensation Committee and potentially the full board if:<br> - There is no SOP on the ballot, and an against vote on an SOP is warranted due to pay-for-performance misalignment, problematic pay practices, or the lack of adequate responsiveness on compensation issues raised previously, or a combination thereof;<br> - The board fails to respond adequately to a previous SOP proposal that received less than 70 percent support of votes cast;<br> - The company has recently practiced or approved problematic pay practices, including option repricing or option backdating; or<br> - The situation is egregious. |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote **against** an equity plan on the ballot if pay for performance misalignment exists, and a significant portion of the CEO's misaligned pay is attributed to non-performance-based equity awards, taking into consideration:<br> - Magnitude of pay misalignment;<br> - Contribution of non-performance-based equity grants to overall pay;<br> - The proportion of equity awards granted in the last three fiscal years concentrated at the named executive officer (NEO) level. |
| &nbsp;&nbsp;&nbsp; **Frequency of**<br> **Advisory Vote on**<br> **Executive**<br> **Compensation -**<br> **Management Say -**<br> **on-Pay** | Vote for **annua**l advisory votes on compensation, which provide the most consistent and clear communication channel for shareholder concerns about companies' executive pay programs. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Advisory Vote on**<br> **Golden Parachutes in**<br> **an Acquisition,**<br> **Merger,**<br> **Consolidation, or**<br> **Proposed Sale** | Vote **case-by-case**on say on Golden Parachute proposals, including consideration of existing change-in-control arrangements maintained with named executive officers rather than focusing primarily on new or extended arrangements. |
| &nbsp;&nbsp;&nbsp; **Equity-Based**<br> **Incentive Plans** | Generally vote **against** unreasonable compensation packages. <br>Vote **against** CEO Equity Plans if CEO compensation exceeds $10 million per year. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Other Compensation Plans | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Other Compensation Plans |
| &nbsp;&nbsp;&nbsp; **Amending Cash and**<br> **Equity Plans**<br> **(including Approval**<br> **for Tax Deductibility**<br> **(162(m))** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote**case-by-case**on amendments to cash and equity incentive plans. <br>**Generally vote for** proposals to approve or amend executive incentive bonus plans if the proposal:<br>- Addresses administrative features only; or<br> - Seeks approval for Section 162(m) purposes only, and the plan administering committee consists entirely of independent outsiders. Note that if the company is presenting the plan to shareholders for the first time after the company's initial public offering (IPO), or if the proposal is bundled with other material plan amendments, then the recommendation will be case-by-case (see below).<br>Vote **case-by-case** on all other proposals to amend equity incentive plans, considering the following:<br> - If the proposal requests additional shares and/or the amendments may potentially increase the transfer of shareholder value to employees, the recommendation will be based on the Equity Plan Scorecard evaluation as well as an analysis of the overall impact of the amendments.<br> - If the plan is being presented to shareholders for the first time after the company's IPO, whether or not additional shares are being requested, the recommendation will be based on the Equity Plan Scorecard evaluation as well as an analysis of the overall impact of any amendments.<br> - If there is no request for additional shares and the amendments are not deemed to potentially increase the transfer of shareholder value to employees, then the recommendation will be based entirely on an analysis of the overall impact of the amendments, and the EPSC evaluation will be shown for informational purposes.<br>|
|  | Vote **case-by-case** on all other proposals to amend cash incentive plans. This includes plans presented to shareholders for the first time after the company's IPO and/or proposals that bundle material amendment(s) other than those for Section 162(m) purposes.<br>Vote **against** proposals to amend executive cash, stock, or cash and stock incentive plans if the proposal:<br>- Seeks approval for Section 162(m) purposes only, and the plan administering committee does not consist entirely of independent outsiders. |

---

------

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; **Employee Stock Purchase Plans (ESPPs)** | **Qualified Plans** | Vote **case-by-case** on qualified employee stock purchase plans. Vote **for** employee stock purchase plans where all of the following apply: <br>-Purchase price is at least 85 percent of fair market value; <br>-Offering period is 27 months or less; and <br>-The number of shares allocated to the plan is ten percent or less of the outstanding shares.<br>Vote **against** qualified employee stock purchase plans where any of the following apply:-Purchase price is less than 85 percent of fair market value; or-Offering period is greater than 27 months; or-The number of shares allocated to the plan is more than ten percent of the outstanding shares. |
| &nbsp;&nbsp;&nbsp;**Employee Stock Purchase Plans (ESPPs)** | **Non-Qualified Plans** | Vote **for** nonqualified employee stock purchase plans with all the following features: <br>-Broad-based participation (i.e., all employees of the company with the exclusion of individuals with 5 percent or more of beneficial ownership of the company); <br>-Limits on employee contribution, which may be a fixed dollar amount or expressed as a percent of base salary; <br>-Company matching contribution up to 25 percent of employee's contribution, which is effectively a discount of 20 percent from market value; and <br>-No discount on the stock price on the date of purchase since there is a company matching contribution. |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Employee Stock Ownership Plans (ESOPs)** | Vote **for** proposals to implement an ESOP or increase authorized shares for existing ESOPs, unless the number of shares allocated to the ESOP is excessive (more than five percent of outstanding shares). |
| &nbsp;&nbsp;&nbsp; **Option Exchange**<br> **Programs/Repricing Options** | Vote **case-by-case** on management proposals seeking approval to exchange/reprice options.<br>Vote **for** shareholder proposals to put option repricings to a shareholder vote. |
| &nbsp;&nbsp;&nbsp;**Stock Plans in Lieu of Cash** | Vote **case-by-case** on plans that provide participants with the option of taking all or a portion of their cash compensation in the form of stock.<br>Vote **for** non-employee director-only equity plans that provide a dollar-for-dollar cash-for-stock exchange.<br>Vote **case-by-case**on plans which do not provide a dollar-for-dollar cash for stock exchange. In cases where the exchange is not dollar-for-dollar, the request for new or additional shares for such equity program will be considered using the binomial option pricing model. |
| &nbsp;&nbsp;&nbsp;**Transfer Stock Option (TSO) Programs** | Vote **case-by-case** on one-time transfers. Vote **for** if: (i) Executive officers and non-employee directors are excluded from participating; (ii) Stock options are purchased by third-party financial institutions at a discount to their fair value using option pricing models such as Black-Scholes or a Binomial Option Valuation or other appropriate financial models; and (iii) There is a two-year minimum holding period for sale proceeds (cash or stock) for all participants.<br>Vote **against** equity plan proposals if the details of ongoing TSO programs are not provided to shareholders. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **401(k) Employee Benefit Plans** | Vote **for** proposals to implement a 401(k) savings plan for employees. |
| &nbsp;&nbsp;&nbsp;**Severance Agreements for Executives/Golden Parachutes** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote on a **case-by-case** basis on proposals to ratify or cancel golden parachutes. An acceptable parachute should include, but is not limited to, the following:<br> - The triggering mechanism should be beyond the control of management;<br> - The amount should not exceed 2.8 times base amount (defined as the average annual taxable W-2 compensation during the two years prior to the year in which the change of control occurs;<br> - Change-in-control payments should be double-triggered, i.e., (1) after a change in control has taken place, and (2) termination of the executive as a result of the change in control. |
| &nbsp;&nbsp;&nbsp; Director Compensation  | &nbsp;&nbsp;&nbsp; Director Compensation  |
| &nbsp;&nbsp;&nbsp; **Shareholder Ratification of Director Pay Programs/Equity Plans for Non-Employee Directors/Outside Director Stock Awards / Options in Lieu of Cash** | Generally vote **against** unreasonable compensation packages. Vote **against** Director Pay Programs if outside director compensation exceeds $100,000. |
| &nbsp;&nbsp;&nbsp; **Director Retirement Plans** | Vote **against** retirement plans for non-employee directors.<br>|
| &nbsp;&nbsp;&nbsp; **Director Retirement Plans** | Vote **for** shareholder proposals to eliminate retirement plans for non-employee directors. |
| &nbsp;&nbsp;&nbsp; Shareholder Proposals on Compensation | &nbsp;&nbsp;&nbsp; Shareholder Proposals on Compensation |
| &nbsp;&nbsp;&nbsp;**Increase Disclosure of Executive Compensation** | Vote **for** shareholder proposals seeking increased disclosure on executive compensation issues including the preparation of a formal report on executive compensation practices and policies. |
| &nbsp;&nbsp;&nbsp; **Limit Executive Compensation** | Vote **for** proposals to prepare reports seeking to compare the wages of a company's lowest paid worker to the highest paid workers. |
|  | <br> Vote **case-by-case** on proposals that seek to establish a fixed ratio between the company's lowest paid workers and the highest paid workers. |
| &nbsp;&nbsp;&nbsp; **Stock Ownership Requirements** | **Generally vote against** shareholder proposals that mandate a minimum amount of stock that directors must own in order to qualify as a director or to remain on the board. |
| &nbsp;&nbsp;&nbsp;**Prohibit/Require Shareholder Approval for Option Repricing** | Vote **for** shareholder proposals seeking to limit repricing.<br>Vote **for** shareholder proposals asking the company to have option repricings submitted for shareholder ratification. |
| &nbsp;&nbsp;&nbsp;**Severance Agreements/ Golden Parachutes** | Vote **for** shareholder proposals requiring that golden parachutes or executive severance agreements be submitted for shareholder ratification, unless the proposal requires shareholder approval prior to entering into employment contracts. |
| &nbsp;&nbsp;&nbsp;**Cash Balance Plans** | Vote **for** shareholder proposals calling for non-discrimination in retirement benefits. |
| &nbsp;&nbsp;&nbsp;**Cash Balance Plans** | <br> Vote **for** shareholder proposals asking a company to give employees the option of electing to participate in either a cash balance plan or in a defined benefit plan. |
| &nbsp;&nbsp;&nbsp; **Performance-Based Equity Awards** | Vote **case-by-case** on shareholder proposal requesting that a significant amount of future long-term incentive compensation awarded to senior executives shall be performance-based and requesting that the board adopt and disclose challenging performance metrics to shareholders. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Pay for Superior Performance** | **Generally vote for** shareholder proposals based on a case-by-case analysis that requests the board establish a pay-for-superior performance standard in the company's executive compensation plan for senior executives. |
| &nbsp;&nbsp;&nbsp;**Link Compensation to Non-Financial Factors** | Vote **for** shareholder proposals calling for linkage of executive pay to sustainability factors including performance against social and environmental goals, customer/employee satisfaction, corporate downsizing, community involvement, human rights, or predatory lending.<br>Vote **for** shareholder proposals seeking reports on linking executive pay to non-financial factors. |
| &nbsp;&nbsp;&nbsp;**Advisory Vote on Executive Compensation (Say-on-Pay) Shareholder Proposals** | **Generally vote for** shareholder proposals that call for non-binding shareholder ratification of the compensation of the Named Executive Officers and the accompanying narrative disclosure of material factors provided to understand the Summary Compensation Table. |
| &nbsp;&nbsp;&nbsp;**Employment Termination Prior to Severance Payment and Eliminating Accelerated Vesting of Unvested Equity** | Vote **case-by-case** on shareholder proposals seeking a policy requiring termination of employment prior to severance payment, and eliminating accelerated vesting of unvested equity. The following factors will be taken into regarding this policy: (i) The company's current treatment of equity in change-of-control situations (i.e. is it double triggered, does it allow for the assumption of equity by acquiring company, the treatment of performance shares); and (ii) Current employment agreements, including potential problematic pay practices such as gross-ups embedded in those agreements.<br>**Generally vote for** proposals seeking a policy that prohibits acceleration of the vesting of equity awards to senior executives in the event of a change in control (except for pro rata vesting considering the time elapsed and attainment of any related performance goals between the award date and the change in control). |
| &nbsp;&nbsp;&nbsp;**Tax Gross-Up Proposals** | **Generally vote for** proposals calling for companies to adopt a policy of not providing tax gross-up payments to executives, except in situations where gross-ups are provided pursuant to a plan, policy, or arrangement applicable to management employees of the company, such as a relocation or expatriate tax equalization policy. |
| &nbsp;&nbsp;&nbsp;**Compensation Consultants - Disclosure of Board or Company's Utilization** | **Generally vote for** shareholder proposals seeking disclosure regarding the Company, Board, or Compensation Committee's use of compensation consultants, such as company name, business relationship(s) and fees paid. |
| &nbsp;&nbsp;&nbsp;**Golden Coffins/Executive Death Benefits** | **Generally vote for** proposals calling companies to adopt a policy of obtaining shareholder approval for any future agreements and corporate policies that could oblige the company to make payments or awards following the death of a senior executive in the form of unearned salary or bonuses, accelerated vesting or the continuation in force of unvested equity grants, perquisites and other payments or awards made in lieu of compensation. |
| &nbsp;&nbsp;&nbsp;**Recoup Bonuses** | **Vote on a case-by-case on** proposals to recoup unearned incentive bonuses or other incentive payments made to senior executives if it is later determined that the figures upon which incentive compensation is earned later turn out to have been in error. |
| &nbsp;&nbsp;&nbsp;**Adopt Anti-Hedging/Pledging/Speculative Investment Policy** | **Generally vote for** proposals seeking a policy that prohibits named executive officers from engaging in derivative or speculative transactions involving company stock, including hedging, holding stock in a margin account, or pledging stock as collateral for a loan. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Bonus Banking** | Vote **case-by-case** on proposals seeking deferral of a portion of annual bonus pay, with ultimate payout linked to sustained results for the performance metrics on which the bonus was earned (whether for the named executive officers or a wider group of employees). |
| &nbsp;&nbsp;&nbsp;**Hold Equity Past Retirement or for a Significant Period of Time** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vote**case-by-case** on shareholder proposals asking companies to adopt policies requiring senior executive officers to retain a portion of net shares acquired through compensation plans. The following factors will be taken into account: <br>- The percentage/ratio of net shares required to be retained; <br>- The time period required to retain the shares; <br>- Whether the company has equity retention, holding period, and/or stock ownership requirements in place and the robustness of such requirements; <br>- Whether the company has any other policies aimed at mitigating risk taking by executives; <br>- Executives' actual stock ownership and the degree to which it meets or exceeds the proponent's suggested holding period/retention ratio or the company's existing requirements; and<br> - Problematic pay practices, current and past, which may demonstrate a short-term versus long-term focus. |
| &nbsp;&nbsp;&nbsp;**Non-Deductible Compensation** | **Generally vote for** proposals seeking disclosure of the extent to which the company paid non-deductible compensation to senior executives due to Internal Revenue Code Section 162(m), while considering the company's existing disclosure practices. |
| &nbsp;&nbsp;&nbsp;**Pre-Arranged Trading Plans (10b5-1 Plans)** | **Generally vote for** shareholder proposals calling for certain principles regarding the use of prearranged trading plans (10b5-1 plans) for executives. |
| &nbsp;&nbsp;&nbsp;Mergers and Corporate Restructurings | &nbsp;&nbsp;&nbsp;Mergers and Corporate Restructurings |
| &nbsp;&nbsp;&nbsp;**Mergers and Acquisitions** | Votes on mergers and acquisitions are considered on a **case-by-case** basis. A review and evaluation of the merits and drawbacks of the proposed transaction is conducted, balancing various and sometimes countervailing factors, including valuation, market reaction, strategic rationale, negotiations and process, conflicts of interest, governance, and social and environmental stakeholder impact. |
| &nbsp;&nbsp;&nbsp;**Corporate Reorganization/Restructuring Plans (Bankruptcy)** | Vote **case-by-case** on proposals to common shareholders on bankruptcy plans of reorganization. |
| &nbsp;&nbsp;&nbsp;**Special Purpose Acquisition Corporations (SPACs)** | Vote **case-by-case**on SPAC mergers and acquisitions taking into account valuation, market reaction, deal timing, negotiations and process, conflicts of interest, voting agreements, governance, and stakeholder impact. |
| &nbsp;&nbsp;&nbsp;**Special Purpose Acquisition Corporations (SPACs) - Proposals for Extensions** | Vote **case-by-case** on SPAC extension proposals taking into account the length of the requested extension, the status of any pending transaction(s) or progression of the acquisition process, any added incentive for non-redeeming shareholders, and any prior extension requests. |
| &nbsp;&nbsp;&nbsp;**Spin-Offs** | Votes on spin-offs should be considered on a **case-by-case** basis depending on the tax and regulatory advantages, planned use of sale proceeds, valuation of spinoff, fairness opinion, benefits to the parent company, conflicts of interest, managerial incentives, corporate governance changes, and changes in the capital structure. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Asset Purchases** | Votes on asset purchase proposals should be made on a **case-by-case** after considering the purchase price, fairness opinion, financial and strategic benefits, how the deal was negotiated, conflicts of interest, other alternatives for the business, non-completion risk; particular attention will be paid to purchases relating to controversial activities, including alcohol, tobacco, weapons, gambling, fossil fuels, nuclear power, pesticides, for profit prisons). |
| &nbsp;&nbsp;&nbsp; **Asset Sales** | Votes on asset sales should be made on a **case-by-case** basis after considering the impact on the balance sheet/working capital, value received for the asset, potential elimination of diseconomies, anticipated financial and operating benefits, anticipated use of funds, fairness opinion, how the deal was negotiated, and conflicts of interest. |
| &nbsp;&nbsp;&nbsp; **Liquidations** | Votes on liquidations should be made on a **case-by-case** basis after reviewing management's efforts to pursue other alternatives, appraisal value of assets, and the compensation plan for executives managing the liquidation.<br>Vote **for** the liquidation if the company will file for bankruptcy if the proposal is not approved. |
| &nbsp;&nbsp;&nbsp; **Joint Ventures** | Vote **case-by-case** on proposals to form joint ventures, taking into account percentage of assets/business contributed, percentage ownership, financial and strategic benefits, governance structure, conflicts of interest, other alternatives, non-completion risk, and evaluation of priorities identified in the Domini Impact Investment Standards. |
| &nbsp;&nbsp;&nbsp; **Appraisal Rights** | Vote **for** proposals to restore, or provide shareholders with, rights of appraisal. |
| &nbsp;&nbsp;&nbsp; **Going Private/Dark Transactions (LBOs and Minority Squeeze-Outs)** | Vote **case-by-case** on going private transactions, taking into account the following: offer price/premium, fairness opinion, how the deal was negotiated, conflicts of interest, other alternatives/offers considered, and non-completion risk.<br>Vote **case-by-case** on "going dark" transactions, determining whether the transaction enhances shareholder value. |
| &nbsp;&nbsp;&nbsp; **Private Placements/Warrants/Convertible Debentures** | Vote **case-by-case** on proposals regarding private placements.<br>Vote **for** the private placement if it is expected that the company will file for bankruptcy if the transaction is not approved. |
| &nbsp;&nbsp;&nbsp; **Formation of Holding Company** | Vote **case-by-case** on proposals regarding the formation of a holding company, taking into consideration the reasons for the change, any financial or tax benefits, regulatory benefits, increases in capital structure, and changes to the articles of incorporation or bylaws of the company.<br>Vote **against** the formation of a holding company if the transaction would include increases in common or preferred stock in excess of the allowable maximum, or adverse changes in shareholder rights. |
| &nbsp;&nbsp;&nbsp; **Value Maximization Shareholder Proposals** | Vote **case-by-case** on shareholder proposals seeking to maximize shareholder value by hiring a financial advisor to explore strategic alternatives, selling the company or liquidating the company and distributing the proceeds to shareholders. |
| &nbsp;&nbsp;&nbsp; **Public Benefit Corporation** | Generally vote **for** proposals to convert to public benefit corporation, or "B-Corp". Vote **for** any proposal requesting a feasibility study, analysis or report on such a conversion. |
| &nbsp;&nbsp;&nbsp; **Report on Externalities** | Vote **for** proposals requesting reporting on externalized costs of corporate practices and consequences for diversified investors. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Social & Environmental Proposals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Social & Environmental Proposals |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Equity and Opportunity<br>|  |
| &nbsp;&nbsp;&nbsp;**Increase Board Competence** | Vote **for** shareholder proposals that ask the company to take steps to increase the board's range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity).<br>Vote **for** shareholder proposals asking for reports on self-disclosed identity characteristics, board recruitment processes and procedures, board 'skills matrix', or the range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity).<br>Vote **for** shareholder proposals asking companies to adopt nomination charters or amend existing charters to include reasonable language regarding the consideration and disclosure of self-disclosed identity characteristics, board recruitment processes and procedures, board skills matrix, or other skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity). |
|  | Vote **for** shareholder proposals that ask the company to take steps to increase the board's range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity).<br>Vote **for** shareholder proposals asking for reports on self-disclosed identity characteristics, board recruitment processes and procedures, board 'skills matrix', or the range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity).<br>Vote **for** shareholder proposals asking companies to adopt nomination charters or amend existing charters to include reasonable language regarding the consideration and disclosure of self-disclosed identity characteristics, board recruitment processes and procedures, board skills matrix, or other skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity). |
|  | Vote **for** shareholder proposals that ask the company to take steps to increase the board's range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity).<br>Vote **for** shareholder proposals asking for reports on self-disclosed identity characteristics, board recruitment processes and procedures, board 'skills matrix', or the range of skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity).<br>Vote **for** shareholder proposals asking companies to adopt nomination charters or amend existing charters to include reasonable language regarding the consideration and disclosure of self-disclosed identity characteristics, board recruitment processes and procedures, board skills matrix, or other skills, backgrounds, and experiences, including personal characteristics (such as gender and race/ethnicity). |
| &nbsp;&nbsp;&nbsp;**Report on Inclusion, Equity, and Equal Opportunity Activities and Audits** | Vote **for** shareholder proposals that ask the company to report on its inclusion, equity, or equal opportunity programs.<br>Vote **for** shareholder proposals requesting reporting, in accordance with legal and regulatory compliance, related to nondiscrimination inclusion, equity, and equal opportunity, workplace health and safety, and labor policies and practices that affect long-term corporate performance.<br>Vote **for** shareholder proposals requesting disclosures, reporting, and/or audits to support equity, inclusion, and opportunity.<br>Vote **for** shareholder proposals requesting nondiscrimination in salary, wages and all benefits.<br>Vote **for** shareholder proposals calling for action on inclusion, equity, opportunity and nondiscrimination.<br>Vote **against** proposals seeking to eliminate protections against discrimination of employees. |
| &nbsp;&nbsp;&nbsp;**Report on Inclusion, Equity, and Equal Opportunity Activities and Audits** | Vote **for** shareholder proposals that ask the company to report on its inclusion, equity, or equal opportunity programs.<br>Vote **for** shareholder proposals requesting reporting, in accordance with legal and regulatory compliance, related to nondiscrimination inclusion, equity, and equal opportunity, workplace health and safety, and labor policies and practices that affect long-term corporate performance.<br>Vote **for** shareholder proposals requesting disclosures, reporting, and/or audits to support equity, inclusion, and opportunity.<br>Vote **for** shareholder proposals requesting nondiscrimination in salary, wages and all benefits.<br>Vote **for** shareholder proposals calling for action on inclusion, equity, opportunity and nondiscrimination.<br>Vote **against** proposals seeking to eliminate protections against discrimination of employees. |
| &nbsp;&nbsp;&nbsp;**Report on Inclusion, Equity, and Equal Opportunity Activities and Audits** | Vote **for** shareholder proposals that ask the company to report on its inclusion, equity, or equal opportunity programs.<br>Vote **for** shareholder proposals requesting reporting, in accordance with legal and regulatory compliance, related to nondiscrimination inclusion, equity, and equal opportunity, workplace health and safety, and labor policies and practices that affect long-term corporate performance.<br>Vote **for** shareholder proposals requesting disclosures, reporting, and/or audits to support equity, inclusion, and opportunity.<br>Vote **for** shareholder proposals requesting nondiscrimination in salary, wages and all benefits.<br>Vote **for** shareholder proposals calling for action on inclusion, equity, opportunity and nondiscrimination.<br>Vote **against** proposals seeking to eliminate protections against discrimination of employees. |
| &nbsp;&nbsp;&nbsp;**Report on Inclusion, Equity, and Equal Opportunity Activities and Audits** | Vote **for** shareholder proposals that ask the company to report on its inclusion, equity, or equal opportunity programs.<br>Vote **for** shareholder proposals requesting reporting, in accordance with legal and regulatory compliance, related to nondiscrimination inclusion, equity, and equal opportunity, workplace health and safety, and labor policies and practices that affect long-term corporate performance.<br>Vote **for** shareholder proposals requesting disclosures, reporting, and/or audits to support equity, inclusion, and opportunity.<br>Vote **for** shareholder proposals requesting nondiscrimination in salary, wages and all benefits.<br>Vote **for** shareholder proposals calling for action on inclusion, equity, opportunity and nondiscrimination.<br>Vote **against** proposals seeking to eliminate protections against discrimination of employees. |
| &nbsp;&nbsp;&nbsp;**Pay Gap** | Vote **for** requests for reports on a company's pay data by gender, race, ethnicity or other protected class a report on a company's policies and goals to reduce any such pay gap. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Labor and Human Rights<br>|  |
| &nbsp;&nbsp;&nbsp;**Human Rights Due Diligence, Worker Rights, including Operations and Supply Chain** | We favor adoption of relevant policies and codes aligned with international norms and standards, and consistent, comparable, and robust disclosure aligned with leading global disclosure frameworks to evaluate company programs, practices, risks and opportunities on human rights and social topics.<br>Vote **for** shareholder proposals to implement human rights standards and workplace codes of conduct protecting employees' wages, benefits, working conditions, freedom of association, and other rights, including prohibition of forced labor, and child labor, in a company's operations and its supply chain, including due diligence, monitoring, and implementation.<br>|
| &nbsp;&nbsp;&nbsp;**Human Rights Due Diligence, Worker Rights, including Operations and Supply Chain** |  |
|  | Vote **for** shareholder proposals calling for the implementation and reporting on the UN Guiding Principles on Business and Human Rights, ILO codes of conduct, human rights due diligence, and other standards to improve human rights and worker rights in a company's operations and<br>|

---

------

---

| | |
|:---|:---|
|  | its supply chain.<br>|
| &nbsp;&nbsp;&nbsp;**Human Rights Due Diligence (cont.)** | Vote **for** shareholder proposals that call for the adoption of principles, enhanced due diligence, or codes of conduct relating to company investments or operations in countries with patterns of human rights abuses or in conflict-affected or high-risk areas.<br>Vote **for** proposals requesting that a company adopt a "Worker-Driven Social Responsibility" approach to human rights due diligence, e.g. the Fair Food Program, Milk With Dignity, etc., or related disclosures or feasibility assessments. |
| &nbsp;&nbsp;&nbsp;**Human Rights Due Diligence (cont.)** | Vote **for** shareholder proposals that call for the adoption of principles, enhanced due diligence, or codes of conduct relating to company investments or operations in countries with patterns of human rights abuses or in conflict-affected or high-risk areas.<br>Vote **for** proposals requesting that a company adopt a "Worker-Driven Social Responsibility" approach to human rights due diligence, e.g. the Fair Food Program, Milk With Dignity, etc., or related disclosures or feasibility assessments. |
| &nbsp;&nbsp;&nbsp;**Community Impact Assessment/ Indigenous Peoples' Rights** | Vote **for** shareholder proposals to prepare reports on a company's environmental and health impact on communities and stakeholder engagement processes.<br>Vote **for** shareholder proposals requesting a company adopt a policy to respect the rights of Indigenous Peoples, including the right to free, prior and informed consent of Indigenous Peoples, in a company's operations, business partnerships, supply chains or financial investments. |
| &nbsp;&nbsp;&nbsp;**Report on Risks of Outsourcing** | Vote **for** shareholder proposals asking for companies to report on the risks associated with outsourcing or off-shoring. |
| &nbsp;&nbsp;&nbsp;**Report on the Impact of Health Pandemics on Company Operations** | Vote **for** shareholder proposals asking for companies to report on the impact of pandemics and public health crises on their business strategies. |
| &nbsp;&nbsp;&nbsp; **Mandatory Arbitration** | **Generally vote for** requests for a report on a company's use of mandatory arbitration on employment-related claims. |
| &nbsp;&nbsp;&nbsp; **Sexual Harassment** | **Generally vote for** requests for a report on company actions taken to strengthen policies and oversight in a company's operations and its supply chain to prevent workplace sexual harassment, or a report on risks posed by a company's failure to prevent workplace sexual harassment. |
| &nbsp;&nbsp;&nbsp;**Technology, Privacy, and Data** | Vote **for** proposals seeking greater disclosure and oversight of emerging technology, including surveillance, biometric surveillance tools and artificial intelligence.<br>Vote **for** proposals seeking disclosure or oversight of the potential impacts of technology or surveillance on human rights, including disproportionate impacts on communities of color, human rights defenders, or other vulnerable groups.<br>Vote **for** increased disclosure and oversight on data collection, use, privacy protections, and policies and procedures for government censorship and requests for information.<br>|
| &nbsp;&nbsp;&nbsp; Environment<br>|  |
| &nbsp;&nbsp;&nbsp;**Environmental/ <br>Sustainability Reports** | We favor consistent, comparable, and robust disclosure aligned with leading global disclosure frameworks to evaluate company programs, practices, risks and opportunities on environmental and climate-related topics.<br>Vote **for** shareholder proposals seeking greater disclosure on a company's sustainability, environmental practices, environmental justice, and/or environmental risks, liabilities, impacts and due diligence, including those aligned with frameworks such as TCFD (Taskforce on Climate-related |

---

------

---

| | |
|:---|:---|
|  | Financial Disclosures), Global Reporting Initiative (GRI), and TNFD (Taskforce on Nature-related Financial Disclosures).<br>|
| &nbsp;&nbsp;&nbsp; **Climate Change/**<br> **Greenhouse Gas Emissions** | Vote **for** shareholder proposals seeking improved disclosure on a company's climate change and transition plan, including its strategy to align with a 1.5°C scenario. Vote **for** shareholder proposals seeking disclosures on the financial, physical, or regulatory risks a company faces related to climate change and how it manages such risks<br>Vote **for** shareholder proposals calling for disclosure of greenhouse gas (GHG) emissions from company operations and/or products and value chain.<br>Vote **for** shareholder proposals calling for the adoption of GHG reduction goals in products and operations, and other strategies to address climate change including, but not limited to the adoption of, or investment in, renewable energy sources, energy efficiency strategies, circular economy, material recycling, or other climate mitigation and adaptation activities.<br>Vote **for** shareholder proposals seeking reports on public policy alignment with a 1.5°C scenario, responses to regulatory and public pressures surrounding climate change, and for disclosure of research that aided in setting company policies around climate change.<br>Vote **for** proposals requesting increased disclosure on a company's strategy or goals to engage with workers, communities, or other stakeholders on a "just transition". |
| &nbsp;&nbsp;&nbsp;**Biodiversity, Protected Areas, Deforestation and Forest Value Creators** | Vote **for** shareholder proposals requesting companies evaluate or address biodiversity risks, impacts to, or dependencies on nature.<br>Vote **for** proposals seeking additional disclosure on biodiversity.<br>Vote **for** shareholder proposals requesting companies adopt No Deforestation, No Peat, No Exploitation (NDPE) policies, set targets, pursue certifications or otherwise seek to avoid or minimize deforestation risks in their operations or supply chains, especially through their sourcing of forest-risk commodities like soy, palm oil, cattle, and paper/pulp. Vote **for** shareholder proposals requesting related disclosures.<br>Vote **for** shareholder proposals seeking to prohibit or reduce the sale of products manufactured from materials extracted from environmentally sensitive areas such as old growth forests or International Union for Conservation of Nature (IUCN) protected areas. |
| &nbsp;&nbsp;&nbsp;**Nuclear Energy** | Vote **for** shareholder proposals seeking the preparation of a report on a company's nuclear energy procedures. |
| &nbsp;&nbsp;&nbsp;**Nuclear Energy** | <br> Vote **for** proposals that ask the company to cease the production of nuclear power. |
| &nbsp;&nbsp;&nbsp;**Water Risks and Water Use** | Vote **for** shareholder proposals seeking the preparation of a report on a company's risks linked to water use, physical climate risk, and water stress or requesting a company adopt policies for water use that incorporate social and environmental factors, including those which promote the "human right to water" as articulated by the United Nations. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Health and Safety | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br> Health and Safety |
| &nbsp;&nbsp;&nbsp; **Chemicals, Hazardous**<br> **substances, and Toxic Materials** | Vote **for** shareholder proposals to evaluate, address, manage, or disclose hazardous chemicals and chemicals of concern and to assess feasibility of safer alternatives. |

---

------

---

| | |
|:---|:---|
|  | Vote on a **case-by-case** basis on shareholder proposals asking companies to cease or phase-out hazardous chemicals or chemicals of concern. |
| &nbsp;&nbsp;&nbsp;**Workplace/Facility Safety** | Vote **for** shareholder proposals requesting workplace safety reports, including reports on accident risk reduction efforts.<br>Vote shareholder proposals requesting companies report on or implement procedures associated with their operations and/or facilities on a **case-by-case** basis.<br>**Generally vote for** shareholder proposals seeking to establish provision of paid leave to employees or requesting related disclosure or a feasibility study of such an action, with particular attention to situations where such a policy would impact public health or workplace safety. |
| &nbsp;&nbsp;&nbsp;**Report on Firearm Safety Initiatives** | Vote **for** shareholder proposals asking the company to report on its efforts to promote firearm safety.<br>Vote **for** shareholder proposals asking the company to stop the sale of firearms and accessories. |
| &nbsp;&nbsp;&nbsp; **Adopt Policy/Report on Drug**<br> **Pricing** | Vote **for** shareholder proposals to prepare a report on drug pricing, access, and affordability of medicines.<br>Vote **for** shareholder proposals to adopt a formal policy on drug pricing or increase access and affordability. |
| &nbsp;&nbsp;&nbsp;Nuclear Weapons | &nbsp;&nbsp;&nbsp;Nuclear Weapons |
| &nbsp;&nbsp;&nbsp; **Depleted Uranium/Nuclear**<br> **Weapons** | Vote **for** shareholder proposals requesting a report on involvement, policies, and procedures related to depleted uranium and nuclear weapons. |
| &nbsp;&nbsp;&nbsp;Consumer Lending and Economic Development | &nbsp;&nbsp;&nbsp;Consumer Lending and Economic Development |
| &nbsp;&nbsp;&nbsp; **Adopt Policy/Report on**<br> **Predatory Lending Practices** | Vote **for** shareholder proposals seeking the development of a policy or preparation of a report to guard against predatory lending practices or practices that harm historically underserved communities or communities of color. |
| &nbsp;&nbsp;&nbsp;**Community Investing** | Vote **for** proposals that seek a policy review or report addressing the company's community investing efforts.<br>Vote **for** proposals that support increased lending or investing activities to further racial justice or address discrimination. |
| &nbsp;&nbsp;&nbsp;Miscellaneous | &nbsp;&nbsp;&nbsp;Miscellaneous |
|  | Vote **case by case** on any proposal not explicitly addressed in the guidelines. |
| &nbsp;&nbsp;&nbsp;**Corporate Tax Avoidance** | Vote **for** proposals that seek disclosure of the policies and procedures that guide the <br> company's global tax strategies. |
| &nbsp;&nbsp;&nbsp;**Minimum Wage Principles** | Vote **for** proposals asking companies to adopt principles for minimum wage reform.<br>Vote **for** proposals asking companies to report on their response to wealth inequality in our society. |
| &nbsp;&nbsp;&nbsp;**Child Sexual Exploitation** | Vote **for** proposals asking companies in the tourism service to report on and adopt policies prohibiting the sexual exploitation of minors on company premises.<br>Vote **for** proposals seeking to protect children from sexual exploitation |
| &nbsp;&nbsp;&nbsp; **Adopting or Amending Clawback**<br> **Policies** | Vote **for** on proposals asking companies to adopt or amend "clawback" polices. |

---

------

---

| | |
|:---|:---|
|  | Vote **for** on proposals asking companies to disclose annually whether the Board recouped any incentive compensation from any senior executive using "clawback" polices.<br>|
| &nbsp;&nbsp; Routine Business | &nbsp;&nbsp; Routine Business |
| &nbsp;&nbsp;&nbsp;**Accept Financial Statements and Statutory Reports** | Generally vote **for** approval of financial statements and director and auditor reports, unless the following apply, in which case we will vote on**case-by-case**basis:<br> › There are concerns about the accounts presented or audit procedures used; or <br>› The company is not responsive to shareholder questions about specific items that should be publicly disclosed. |
| &nbsp;&nbsp;&nbsp;**Approve Allocation of Income and Dividends** | Vote **for** approval of the allocation of income, unless: <br>› The dividend payout ratio has been consistently below 30 percent without adequate explanation; or <br>› The payout is excessive given the company's financial position. |
| &nbsp;&nbsp;&nbsp;**Approve Dividends** | Vote **for** approval of the allocation of income, unless: <br>› The dividend payout ratio has been consistently below 30 percent without adequate explanation; or <br>› The payout is excessive given the company's financial position. |
| &nbsp;&nbsp;&nbsp;**Accept Consolidated Financial Statements and Statutory Reports** | Generally vote **for** approval of financial statements and director and auditor reports, unless: <br>› There are concerns about the accounts presented or audit procedures used; or <br>› The company is not responsive to shareholder questions about specific items that should be publicly disclosed.<br>|
| &nbsp;&nbsp;&nbsp;**Approve Financial Statements, Allocation of Income, and Discharge Directors** | Generally vote **for** discharge of directors, including members of the management board and/or supervisory board, unless there is reliable information about significant and compelling controversies that the board is not fulfilling its fiduciary duties such as the following, which we vote on **case-by-case** basis: <br>› A lack of oversight or actions by board members which invoke shareholder distrust related to malfeasance or poor supervision, such as operating in private or company interest rather than in shareholder interest; <br>› Any legal issues (e.g. civil/criminal) aiming to hold the board responsible for breach of trust in the past or related to currently alleged actions yet to be confirmed (and not only the fiscal year in question), such as price fixing, insider trading, bribery, fraud, and other illegal actions; or <br>› Other egregious governance issues where shareholders will bring legal action against the company or its directors. |
| &nbsp;&nbsp;&nbsp;**Other Business** | Generally vote **against** other business when it appears as a voting item |
| &nbsp;&nbsp;&nbsp;**Designate X as Independent Proxy** | Generally vote **for** designating an independent proxy in order to comply with local market legal framework in the absence of the significant concerns. |
| &nbsp;&nbsp;&nbsp;**Discuss/Approve Company's Corporate Governance Structure/Statement** | Approval of corporate governance codes is in the best interest of all company shareholders. Generally will vote **for** approving corporate governance statements in order to achieve full compliance with the local market code. |
| &nbsp;&nbsp;&nbsp;**Approve Stock Dividend Program** | Vote **for** approval of the allocation of income, unless: <br>› The dividend payout ratio has been consistently below 30 percent without adequate explanation; or <br>› The payout is excessive given the company's financial position. |
| &nbsp;&nbsp;&nbsp;**Receive/Approve Report/Announcement** | Generally vote **for** approval of financial statements and director and auditor reports, unless the following, which we vote on **case-by-case**basis: <br>› There are concerns about the accounts presented or audit procedures used; or <br>› The company is not responsive to shareholder questions about specific items that should be publicly disclosed. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;**Change Company Name** | Generally vote **for** changing the corporate name unless there is compelling evidence that the change would adversely affect shareholder value. |
| &nbsp;&nbsp;&nbsp;**Change Location of Registered Office/Headquarters** | Generally vote **for** the approval of changes to office locations as long as the change is deemed to have no effect on the value of the share or on the rights of the company's shareholders. |
| &nbsp;&nbsp;&nbsp;**Approve/Amend Regulations on General Meetings** | The board should have some flexibility to adjust its businesses and respond to changing market conditions in a thoughtful manner. Domini will generally vote **for** adjustments to its business scope as long as the request is deemed reasonable. |
| &nbsp;&nbsp;&nbsp;**Amend Corporate Purpose** | Generally vote **for** amending the corporate purpose as long as these proposals are not deemed contentious and the management's rationale behind the amendments is satisfactory. |
| &nbsp;&nbsp;&nbsp;**Change Date/Location of Annual Meeting** | Generally vote **for** management proposals to change the date, time, or location of the annual meeting unless the proposed change is unreasonable. <br>Vote on**case-by-case** basis on shareholder proposals to change the date, time, or location of the annual meeting unless the current scheduling or location is unreasonable. |
| &nbsp;&nbsp;&nbsp;**Allow Electronic Distribution of Company Communications** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Approve Company's Membership in an Association/**<br> **Organization** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Delisting of Shares from Stock Exchange** | Generally **vote** for this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Dividend Distribution Policy** | Vote **for** approval of the allocation of income, unless: <br>› The dividend payout ratio has been consistently below 30 percent without adequate explanation; or <br>› The payout is excessive given the company's financial position. |
| &nbsp;&nbsp;&nbsp;**Approve Investment and Financing Policy** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Listing of Shares on a Secondary Exchange** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Provision for Asset Impairment** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Provisionary Budget and Strategy for Fiscal Year 20XX** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Publication of Information in English** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Special/Interim Dividends** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Standard Accounting Transfers** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Suspension of Shares from Trading** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve Treatment of Net Loss** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp;**Approve X as Trustee of the Trust** | Generally vote **for** this proposal given its routine nature. |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; **Change Fiscal Year End** | Generally vote **for** resolutions to change a company's fiscal term unless a company's motivation for the change is to postpone its AGM. |
| &nbsp;&nbsp;&nbsp; **Ratify Past Allocation of Income and Dividends** | Vote **for** approval of the allocation of income, unless: <br>› The dividend payout ratio has been consistently below 30 percent without adequate explanation; or <br>› The payout is excessive given the company's financial position. |
| &nbsp;&nbsp;&nbsp; Formalities | &nbsp;&nbsp;&nbsp; Formalities |
| &nbsp;&nbsp;&nbsp; **Authorize Filing of Required Documents/Other Formalities** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Elect Chairperson and/or Secretary of Meeting** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Designate Inspector or Shareholder Representative(s) of Minutes of Meeting and/or Vote Tabulation** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Approve Minutes of Previous Meeting** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Authorize Board to Ratify and Execute Approved Resolutions** | As this item is dependent on whether the other proposals on the ballot warrant support or opposition, it is evaluated on a **case-by-case**basis. |
| &nbsp;&nbsp;&nbsp; **Prepare and Approve List of Shareholders** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Acknowledge Proper Convening of Meeting** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Open Meeting** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Approve Meeting Procedures** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Close Meeting** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Allow Questions** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Call the Meeting to Order** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Approve XX XXX, 20XX, as Record Date for Effectiveness of X Resolution OR this Meeting's Resolutions** | Generally vote **for** this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **Designate Newspaper to Publish Meeting Announcements** | Generally vote for this proposal given its routine nature. |
| &nbsp;&nbsp;&nbsp; **In the Event of a Second Call, the Voting Instructions Contained in this Proxy Card may also be Considered for the Second Call** | Generally vote for this proposal given its routine nature. |

---

#### \*All Items not addressed in this matrix will be referred to Domini for voting instructions

------

#### PART C

#### ITEM 28. EXHIBITS

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;(6) <br>a(1) | [Second Amended and Restated Declaration of Trust of the Registrant](http://www.sec.gov/Archives/edgar/data/851680/000095010901503948/dex99a.txt) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> a(2) | [Amendment to Declaration of Trust of the Registrant](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file002.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(12)<br> a(3) | [Amendment to Declaration of Trust of the Registrant with respect to the Domini EuroPacific Social Equity Fund and the Domini PacAsia Social Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013606007598/file002.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(15)<br> a(4) | [Amendment to Second Amended and Restated Declaration of Trust (reflecting name change from Domini EuroPacific Social Equity Fund to Domini European PacAsia Social Equity Fund effective 11/30/2007)](http://www.sec.gov/Archives/edgar/data/851680/000095013607007952/file2.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(17)<br> a(5) | [Amendment to Declaration of Trust of the Registrant with respect to the Class A shares and Institutional shares of the Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund and Domini PacAsia Social Equity Fund dtd 9/3/2008](http://www.sec.gov/Archives/edgar/data/851680/000095012308016565/y00189bpexv99waw5.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(18)<br> a(6) | [Amendment to Declaration of Trust of the Registrant with respect to Investor shares and Class A shares of the Domini International Social Equity Fund effective 11/27/2009](http://www.sec.gov/Archives/edgar/data/851680/000119312509188447/dex99a6.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(19)<br> a(7) | [Amendment to Declaration of Trust of the Registrant with respect to the Domini International Social Equity Fund, Domini European Social Equity Fund, and Domini PacAsia Social Equity Fund effective 11/27/2009](http://www.sec.gov/Archives/edgar/data/851680/000119312509241189/dex99a7.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(21)<br> a(8) | [Amendment to Declaration of Trust of the Registrant with respect to the establishment of the Institutional shares of the Domini Social Bond Fund effective 11/30/2011](http://www.sec.gov/Archives/edgar/data/851680/000119312511322580/d251511dex99a8.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(22)<br> a(9) | [Amendment to Declaration of Trust of the Registrant with respect to the establishment of the Institutional shares of the Domini International Social Equity Fund effective 11/30/2012](http://www.sec.gov/Archives/edgar/data/851680/000119312512482971/d394643dex99a9.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(27)<br> a(10) | [Amendment to Declaration of Trust of the Registrant with respect to the name changes effective 11/30/2016](http://www.sec.gov/Archives/edgar/data/851680/000119312516777932/d315672dex99a10.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(29)<br> a(11) | [Amendment to Declaration of Trust of the Registrant with respect to the establishment of Class Y shares of the Domini Impact International Equity Fund and Domini Impact Bond Fund effective 1/29/2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518093544/d454929dex99a11.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(29)<br> a(12) | [Amendment to Declaration of Trust of the Registrant with respect to a change in the principal business address of the Trust effective February 26, 2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518093544/d454929dex99a12.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(33)<br> a(13) | [Amendment to Declaration of Trust of the Registrant with respect to Domini Sustainable Solutions Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312519289622/d819542dex99a13.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(36)<br> a(14) | [Amendment to Declaration of Trust of the Registrant with respect to Domini International Opportunities Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520225483/d77187dex99a14.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> a(15) | [Amendment to Declaration of Trust of the Registrant with respect to Domini Impact Equity Fund Class R shares name change](http://www.sec.gov/Archives/edgar/data/851680/000119312520303439/d938296dex99a15.htm) |
| &nbsp;&nbsp; \*<br> a(16) | [Amendment to Declaration of Trust of the Registrant with respect to liquidation of Class A shares](d806602dex99a16.htm) |
| &nbsp;&nbsp; \*<br> a(17) | [Amendment to Declaration of Trust of the Registrant with respect to liquidation of Domini International Opportunities Fund](d806602dex99a17.htm) |
| &nbsp;&nbsp; \*<br> a(18) | [Amendment to Declaration of Trust of the Registrant with respect to registered agent](d806602dex99a18.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> b | [Amended and Restated By-Laws of the Registrant](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file003.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(5)<br> d(1) | [Management Agreement between the Registrant and Domini Social Investments LLC ("Domini") with respect to Domini Social Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013000006360/0000950130-00-006360-0002.txt) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> d(2) | [Amendment to Management Agreement between the Registrant and Domini with respect to Domini Social Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file004.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(10)<br> d(3) | [Submanagement Agreement between Domini and Seix Advisors ("Seix") with respect to Domini Social Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013605003406/file002.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> d(4) | [Management Agreement between the Registrant and Domini with respect to Domini European Social Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file005.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(16)<br> d(5) | [Amendment to Submanagement Agreement between Domini and Seix with respect to the Domini Social Bond Fund effective 4/25/2008](http://www.sec.gov/Archives/edgar/data/851680/000095012308011427/y00189aexv99wdw8.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(17)<br> d(6) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to the Domini Social Equity Fund effective 11/28/2008](http://www.sec.gov/Archives/edgar/data/851680/000095012308016565/y00189bpexv99wdw7.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(22)<br> d(7) | [Amendment to Submanagement Agreement between Domini and Wellington Management with respect to Domini Social Equity Fund and Domini International Social Equity Fund effective 05/01/2012](http://www.sec.gov/Archives/edgar/data/851680/000119312512482971/d394643dex99d7.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(24)<br> d(8) | [Submanagement Agreement dated May 30, 2014, between Domini and Seix Investment Advisors LLC ("Seix") with respect to Domini Social Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312514426117/d801532dex99d8.htm) |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;(25) <br>d(9) | [Submanagement Agreement between Domini and Wellington Management with respect to Domini Social Bond Fund as of 1/7/2015](http://www.sec.gov/Archives/edgar/data/851680/000119312515324474/d42226dex99d9.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> d(10) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to Domini Impact Bond Fund effective 5/1/2017](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99d10.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> d(11) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to Domini Impact Equity Fund and Domini Impact International Equity Fund effective 5/1/2017](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99d11.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> d(12) | [Amended and Restated Submanagement Agreement between Domini and Wellington Management with respect to Domini Impact Bond Fund effective 5/1/2017](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99d12.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> d(13) | [Amended and Restated Submanagement Agreement between Domini and Wellington Management with respect to Domini Impact Equity Fund and Domini Impact International Equity Fund effective 5/1/2017](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99d13.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(32)<br> d(14) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to the Domini Impact Equity Fund to reduce the Fund's management fee, effective 12/1/2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518335150/d622634dex99d14.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(32)<br> d(15) | [Submanagement Agreement between Domini and SSGA Funds Management, Inc. with respect to Domini Impact Equity Fund effective 12/1/2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518335150/d622634dex99d15.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> d(16) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to Domini Sustainable Solutions Fund dated 1/31/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99d16.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> d(17) | [Submanagement Agreement between Domini and SSGA Funds Management, Inc. with respect to Domini Sustainable Solutions Fund dated 3/1/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99d17.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(36)<br> d(18) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to Domini Impact International Equity Fund to reduce the Fund's management fee effective 8/1/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520225483/d77187dex99d18.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(36)<br> d(19) | [Amended and Restated Submanagement Agreement between Domini and Wellington Management with respect to Domini Impact International Equity Fund to reduce the submanagement fee effective 8/1/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520225483/d77187dex99d19.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> d(20) | [Amended and restated Management Agreement between the Registrant and Domini with respect to the Domini International Opportunities Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99d20.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> d(21) | [Submanagement agreement between Domini and SSGA Funds Management, Inc. with respect to Domini International Opportunities Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99d21.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(42)<br> d(22) | [Amended and Restated Management Agreement between the Registrant and Domini with respect to Domini Impact International Equity Fund to reduce the Fund's management fee effective 8/1/2024](http://www.sec.gov/Archives/edgar/data/851680/000119312524264133/d828421dex99d22.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(42)<br> d(23) | [Amended and Restated Submanagement Agreement between Domini and Wellington Management with respect to Domini Impact International Equity Fund to reduce the submanagement fee effective 8/1/2024](http://www.sec.gov/Archives/edgar/data/851680/000119312524264133/d828421dex99d23.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> e(1) | [Amended and Restated Distribution Agreement with respect to Investor Shares between the Registrant and DSIL Investment Services LLC ("DSILD"), as distributor](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file006.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(8)<br> e(2) | [Distribution Agreement with respect to Class R Shares between the Registrant and DSILD, as distributor](http://www.sec.gov/Archives/edgar/data/851680/000095013603002932/file003.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(12)<br> e(3) | [Amended and Restated Distribution Agreement with respect to Investor Shares between the Registrant and DSILD](http://www.sec.gov/Archives/edgar/data/851680/000095013606007598/file004.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(17)<br> e(4) | [Distribution Agreement between the Registrant and DSILD with respect to Class A shares](http://www.sec.gov/Archives/edgar/data/851680/000095012308016565/y00189bpexv99wew4.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(17)<br> e(5) | [Distribution Agreement between the Registrant and DSILD with respect to Institutional shares](http://www.sec.gov/Archives/edgar/data/851680/000095012308016565/y00189bpexv99wew5.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(29)<br> e(6) | [Distribution Agreement between the Registrant and DSILD with respect to Class Y shares](http://www.sec.gov/Archives/edgar/data/851680/000119312518093544/d454929dex99e6.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(3)<br> g(1) | [Custodian Agreement between the Registrant and Investors Bank & Trust Company ("IBT"), as custodian](http://www.sec.gov/Archives/edgar/data/851680/000092963899000342/0000929638-99-000342.txt) |
| &nbsp;&nbsp;&nbsp;&nbsp;(7)<br> g(2) | [Amendment to Custodian Agreement between the Registrant and IBT, as custodian](http://www.sec.gov/Archives/edgar/data/851680/000092963803000138/a1115687.txt) |
| &nbsp;&nbsp;&nbsp;&nbsp;(8)<br> g(3) | [Amendment to Custodian Agreement between the Registrant and IBT, as custodian](http://www.sec.gov/Archives/edgar/data/851680/000095013603002932/file004.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> g(4) | [Amendment to the Custodian Agreement between the Registrant and IBT, as custodian, effective as of 8/1/05](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file007.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(12)<br> g(5) | [Amendment to the Custodian Agreement between the Registrant and IBT, as custodian, effective as of 11/30/06](http://www.sec.gov/Archives/edgar/data/851680/000095013606007598/file005.htm) |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;(18) <br>g(6) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company (the successor to IBT) effective as of 11/27/2009](http://www.sec.gov/Archives/edgar/data/851680/000119312509188447/dex99g7.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(25)<br> g(7) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company effective as of 1/15/2015](http://www.sec.gov/Archives/edgar/data/851680/000119312515324474/d42226dex99g7.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> g(8) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company effective as of 9/6/2017](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99g8.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> g(9) | [Custodian Agreement between the Registrant and State Street Bank and Trust Company dated 1/17/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99g9.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> g(10) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company regarding Domini Sustainable Solutions Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99g10.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> g(11) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company regarding Domini International Opportunities Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99g11.htm) |
| &nbsp;&nbsp; \*<br> g(12) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company effective ao 1/1/2025](d806602dex99g12.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(9)<br> h(1) | [Transfer Agency Agreement between the Registrant and BNY Mellon Asset Servicing Inc. (formerly PNC Global Investment Servicing Inc.) ("BNY Mellon")](http://www.sec.gov/Archives/edgar/data/851680/000095013604003164/file002.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(1)<br> h(2) | [Sponsorship Agreement between the Registrant and Domini, as sponsor, with respect to Domini Social Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/0001047469-97-006076.txt) |
| &nbsp;&nbsp;&nbsp;&nbsp;(11)<br> h(3) | [Amendment to Sponsorship Agreement between the Registrant and Domini, as sponsor, with respect to Domini Social Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file008.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(12)<br> h(4) | [Amendment to Sponsorship Agreement between the Registrant and Domini, as sponsor, with respect to Domini Social Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/000095013606007598/file006.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> h(5) | [Expense Limitation Agreement effective as of 11/30/2017 with respect to the Domini Impact Equity Fund, Domini Impact International Equity Fund, and Domini Impact Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99h5.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(29)<br> h(6) | [Expense Limitation Agreement effective as of February 15, 2018, with respect to Class Y shares of Domini Impact International Equity Fund and Domini Impact Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312518093544/d454929dex99h6.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(30)<br> h(7) | [Expense Limitation Agreement effective as of 6/15/2018 with respect to the class A shares of Domini Impact Equity Fund and Domini Impact International Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312518192769/d454929dex99h7.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(31)<br> h(8) | [Expense Limitation Agreement effective as of 12/1/2018 with respect to Investor, Class A, Institutional and R shares of the Domini Impact Equity Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312518274090/d622634dex99h8.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(32)<br> h(9) | [Expense Limitation Agreement effective as of 12/1/2018 with respect to Investor and Institutional shares of the Domini Impact Bond Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312518335150/d622634dex99h9.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(34)<br> h(10) | [Expense Limitation Agreement effective as of 11/29/2019 with respect to the Domini Impact Equity Fund (Inv, A, Instl, R), Domini Impact International Equity Fund (A, Y) and Domini Impact Bond Fund (Inv, Instl, Y)](http://www.sec.gov/Archives/edgar/data/851680/000119312519300677/d743300dex99h11.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> h(11) | [Expense Limitation Agreement with respect to the Sustainable Solution Fund (Investor and Institutional shares)](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99h11.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> h(12) | [Expense Limitation Agreement with respect to the International Opportunities Fund (Investor and Institutional shares)](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99h12.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(5)<br> h(13) | [Administration Agreement between the Registrant and Domini](http://www.sec.gov/Archives/edgar/data/851680/000095013000006360/0000950130-00-006360-0009.txt) |
| &nbsp;&nbsp;&nbsp;&nbsp;(12)<br> h(14) | [Administration Agreement between the Registrant and IBT dated as of 10/15/02](http://www.sec.gov/Archives/edgar/data/851680/000095013606007598/file012.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(12)<br> h(15) | [Amendment dated as of 11/30/06 to the Administration Agreement between the Registrant and IBT](http://www.sec.gov/Archives/edgar/data/851680/000095013606007598/file013.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(27)<br> h(16) | [Amendment dated as of 8/01/05 to the Administration Agreement between the Registrant and Investors Bank and Trust Company](http://www.sec.gov/Archives/edgar/data/851680/000119312516777932/d315672dex99h16.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(27)<br> h(17) | [Amendment dated as of 11/27/09 to the Administration Agreement between the Registrant and State Street Bank and Trust Company (the successor to Investors Bank and Trust Company)](http://www.sec.gov/Archives/edgar/data/851680/000119312516777932/d315672dex99h17.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> h(18) | [Administration Agreement between the Registrant and State Street Bank and Trust Company dated 1/17/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99h17.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> h(19) | [Amendment to Administration Agreement between the Registrant and State Street Bank and Trust Company regarding Domini Sustainable Solutions Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99h18.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(14)<br> h(20) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon effective as of 7/5/06](http://www.sec.gov/Archives/edgar/data/851680/000095013607006527/file7.htm) |

---

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;(15) <br>h(21) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective as of 9/5/07](http://www.sec.gov/Archives/edgar/data/851680/000095013607007952/file3.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(28)<br> h(22) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective 07/01/2017](http://www.sec.gov/Archives/edgar/data/851680/000119312517353338/d297907dex99h18.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(30)<br> h(23) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective March 1, 2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518192769/d454929dex99h19.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(32)<br> h(24) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective 09/21/2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518335150/d622634dex99h20.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(32)<br> h(25) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective 10/30/2018](http://www.sec.gov/Archives/edgar/data/851680/000119312518335150/d622634dex99h21.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(33)<br> h(26) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective 12/31/2018](http://www.sec.gov/Archives/edgar/data/851680/000119312519289622/d819542dex99h23.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> h(27) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon regarding Domini Sustainable Solutions Fund dated 1/31/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99h26.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(36)<br> h(28) | [Amendment to Transfer Agency Agreement between the Registrant and BNY Mellon, effective June 21, 2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520225483/d77187dex99h28.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(35)<br> h(29) | [Master Services Agreement regarding Transfer Agent and Shareholder Services between the Registrant and Ultimus Fund Solutions, LLC dated 1/10/2020](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99h27.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> h(30) | [Amendment to Master Services Agreement regarding Transfer Agent and Shareholder Services between the Registrant and Ultimus Fund Solutions, LLC dated 1/10/2020 regarding Domini International Opportunities Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99h30.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(37)<br> h(31) | [Amendment to Administration Agreement between the Registrant and State Street Bank and Trust Company regarding Domini International Opportunities Fund](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99h31.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(16)<br> h(32) | [Shareholder Services Agreement between Registrant and Domini effective 6/2/08](http://www.sec.gov/Archives/edgar/data/851680/000095012308011427/y00189aexv99whw15.htm) |
| &nbsp;&nbsp; \*<br> h(32)i | [Notice of termination of Shareholder Service Agreement between Registrant and Domini effective 6/1/2025](d806602dex99h32i.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(38)<br> h(33) | [Amended and Restated Expense Limitation Agreement effective as of 11/30/2020 with respect to the Domini Impact Equity Fund (Inv, A, Instl, Y), Domini International Opportunities Fund (Investor and Institutional), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (A, Y) and Domini Impact Bond Fund (Inv, Instl, Y)](http://www.sec.gov/Archives/edgar/data/851680/000119312520303439/d938296dex99h33.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(39)<br> h(34) | [Expense Limitation Agreement effective as of 11/30/2021 with respect to the Domini Impact Equity Fund (Inv, A, Instl, Y), Domini International Opportunities Fund (Investor and Institutional), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (A, Y) and Domini Impact Bond Fund (Inv, Instl, Y)](http://www.sec.gov/Archives/edgar/data/851680/000119312521339751/d212702dex99h34.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(40)<br> h(35) | [Expense Limitation Agreement effective as of 11/30/2022 with respect to the Domini Impact Equity Fund (Inv, A, Instl, Y), Domini International Opportunities Fund (Investor and Institutional), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (A, Y) and Domini Impact Bond Fund (Inv, Instl, Y)](http://www.sec.gov/Archives/edgar/data/851680/000119312522290801/d353312dex99h35.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(41)<br> h(36) | [Expense Limitation Agreement effective as of 11/30/2023 with respect to the Domini Impact Equity Fund (Inv, A, Instl, Y), Domini International Opportunities Fund (Investor and Institutional), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (A, Y) and Domini Impact Bond Fund (Inv, Instl, Y)](http://www.sec.gov/Archives/edgar/data/851680/000119312523281955/d489688dex99h36.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(42)<br> h(37) | [Expense Limitation Agreement effective as of 11/30/2024 with respect to the Domini Impact Equity Fund (Inv, Instl, Y), Domini International Opportunities Fund (Investor and Institutional), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (Y) and Domini Impact Bond Fund (Inv, Instl, Y)](http://www.sec.gov/Archives/edgar/data/851680/000119312524264133/d828421dex99h37.htm) |
| &nbsp;&nbsp; \*<br> h(38) | [Expense Limitation Agreement effective as of 11/30/2025 with respect to the Domini Impact Equity Fund (Inv, Instl, Y), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (Y) and Domini Impact Bond Fund (Inv, Instill, Y)](d806602dex99h38.htm) |
| &nbsp;&nbsp; \*<br> h(39) | [Master Services Agreement regarding Transfer Agent and Shareholder Services between the Registrant and Ultimus Fund Solutions, LLC dated 6/1/2025](d806602dex99h39.htm) |
| &nbsp;&nbsp; \*<br> h(40) | [Amendment to Administration Agreement between the Registrant and State Street Bank and Trust Company effective ao 1/1/2025](d806602dex99h40.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;[(2)](http://www.sec.gov/Archives/edgar/data/851680/000092963899000305/0000929638-99-000305.txt) [(4)](http://www.sec.gov/Archives/edgar/data/851680/000092963800000005/0000929638-00-000005.txt)<br> &nbsp;&nbsp;&nbsp;&nbsp;[(11)](http://www.sec.gov/Archives/edgar/data/851680/000095013605005501/file010.htm)<br> &nbsp;&nbsp;&nbsp;&nbsp;[(13)](http://www.sec.gov/Archives/edgar/data/851680/000095013606009618/file2.htm)<br> &nbsp;&nbsp;&nbsp;&nbsp;[(17)](http://www.sec.gov/Archives/edgar/data/851680/000095012308016565/y00189bpexv99wi.htm)<br> &nbsp;&nbsp;&nbsp;&nbsp;[(30)](http://www.sec.gov/Archives/edgar/data/851680/000119312518192769/d454929dex99i.htm)<br> &nbsp;&nbsp;&nbsp;&nbsp;[(35)](http://www.sec.gov/Archives/edgar/data/851680/000119312520055845/d819542dex99i.htm)<br> &nbsp;&nbsp;&nbsp;&nbsp;[(37)](http://www.sec.gov/Archives/edgar/data/851680/000119312520302277/d77187dex99i.htm) | Opinion and consent of counsel |
| &nbsp;&nbsp; \*<br> j | [Consent of independent registered public accounting firm](d806602dex99j.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;(8)<br> m(1) | [Amended and Restated Distribution Plan of the Registrant with respect to Investor Shares](http://www.sec.gov/Archives/edgar/data/851680/000095013603002932/file008.htm) |

---

------

---

| | | |
|:---|:---|:---|
| (17) | m(2) | [Distribution Plan of the Registrant with respect to Class A shares](http://www.sec.gov/Archives/edgar/data/851680/000095012308016565/y00189bpexv99wmw2.htm) |
| (7) | n | [Multiple Class Plan of the Registrant](http://www.sec.gov/Archives/edgar/data/851680/000092963803000138/a1114681.txt) |
| (20) | p(1) | [Code of Ethics of the Registrant](http://www.sec.gov/Archives/edgar/data/851680/000119312510268730/dex99p1.htm) |
| (41) | p(2) | [Code of Ethics of Domini and DSILD](http://www.sec.gov/Archives/edgar/data/851680/000119312523281955/d489688dex99p2.htm) |
| (23) | p(3) | [Code of Ethics of Seix Advisors](http://www.sec.gov/Archives/edgar/data/851680/000119312513453776/d615925dex99p3.htm) |
| (42) | p(4) | [Code of Ethics of Wellington Management Company, LLP](http://www.sec.gov/Archives/edgar/data/851680/000119312524264133/d828421dex99p4.htm) |
| \* | p(5) | [Code of Ethics of SSGA Funds Management, Inc.](d806602dex99p5.htm) |
| \* | q | [Powers of Attorney](d806602dex99q.htm) |
| \* | 101.INS | XBRL Instance Document – the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
| \* | 101.SCH | XBRL Taxonomy Extension Schema Document |
| \* | 101.CAL | XBRL Taxonomy Extension Calculation Linkbase |
| \* | 101.DEF | XBRL Taxonomy Extension Definition Linkbase |
| \* | 101.LAB | XBRL Taxonomy Extension Labels Linkbase |
| \* | 101.PRE | XBRL Taxonomy Extension Presentation Linkbase |

---

_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

(1) Incorporated herein by reference from Post-Effective Amendment No. 11 to the Registrant's Registration Statement as filed with the SEC on November 25, 1997.

(2) Incorporated herein by reference from Post-Effective Amendment No. 13 to the Registrant's Registration Statement as filed with the SEC on September 29, 1999.

(3) Incorporated herein by reference from Post-Effective Amendment No. 14 to the Registrant's Registration Statement as filed with the SEC on November 23, 1999.

(4) Incorporated herein by reference from Post-Effective Amendment No. 16 to the Registrant's Registration Statement as filed with the SEC on January 13, 2000.

(5) Incorporated herein by reference from Post-Effective Amendment No. 19 to the Registrant's Registration Statement as filed with the SEC on November 28, 2000.

(6) Incorporated herein by reference from Post-Effective Amendment No. 20 to the Registrant's Registration Statement as filed with the SEC on September 28, 2001.

(7) Incorporated herein by reference from Post-Effective Amendment No. 23 to the Registrant's Registration Statement as filed with the SEC on September 29, 2003.

(8) Incorporated herein by reference from Post-Effective Amendment No. 24 to the Registrant's Registration Statement as filed with the SEC on November 26, 2003.

(9) Incorporated herein by reference from Post-Effective Amendment No. 25 to the Registrant's Registration Statement as filed with the SEC on September 29, 2004.

(10) Incorporated herein by reference from Post-Effective Amendment No. 27 to the Registrant's Registration Statement as filed with the SEC on June 10, 2005.

(11) Incorporated herein by reference from Post-Effective Amendment No. 28 to the Registrant's Registration Statement as filed with the SEC on August 29, 2005.

(12) Incorporated herein by reference from Post-Effective Amendment No. 31 to the Registrant's Registration Statement as filed with the SEC on September 11, 2006.

(13) Incorporated herein by reference from Post-Effective Amendment No. 32 to the Registrant's Registration Statement as filed with the SEC on November 17, 2006.

(14) Incorporated herein by reference from Post-Effective Amendment No. 33 to the Registrant's Registration Statement as filed with the SEC on September 20, 2007.

(15) Incorporated herein by reference from Post-Effective Amendment No. 34 to the Registrant's Registration Statement as filed with the SEC on November 19, 2007.

(16) Incorporated herein by reference from Post-Effective Amendment No. 36 to the Registrant's Registration Statement as filed with the SEC on September 26, 2008.

(17) Incorporated herein by reference from Post-Effective Amendment No. 37 to the Registrant's Registration Statement as filed with the SEC on November 26, 2008.

(18) Incorporated herein by reference from Post-Effective Amendment No. 38 to the Registrant's Registration Statement as filed with the SEC on September 8, 2009.

(19) Incorporated herein by reference from Post-Effective Amendment No. 39 to the Registrant's Registration Statement as filed with the SEC on November 24, 2009.

(20) Incorporated herein by reference from Post-Effective Amendment No. 40 to the Registrant's Registration Statement as filed with the SEC on November 24, 2010.

(21) Incorporated herein by reference from Post-Effective Amendment No. 41 to the Registrant's Registration Statement as filed with the SEC on November 28, 2011.

(22) Incorporated herein by reference from Post-Effective Amendment No. 43 to the Registrant's Registration Statement as filed with the SEC on November 28, 2012.

(23) Incorporated herein by reference from Post-Effective Amendment No. 45 to the Registrant's Registration Statement as filed with the SEC on November 26, 2013.

(24) Incorporated herein by reference from Post-Effective Amendment No. 47 to the Registrant's Registration Statement as filed with the SEC on November 26, 2014.

(25) Incorporated herein by reference from Post-Effective Amendment No. 49 to the Registrant's Registration Statement as filed with the SEC on September 21, 2015.

(26) Incorporated herein by reference from Post-Effective Amendment No. 50 to the Registrant's Registration Statement as filed with the SEC on November 25, 2015.

(27) Incorporated herein by reference from Post-Effective Amendment No. 52 to the Registrant's Registration Statement as filed with the SEC on November 28, 2016.

(28) Incorporated herein by reference from Post-Effective Amendment No. 52 to the Registrant's Registration Statement as filed with the SEC on November 28, 2017.

------

(29) Incorporated herein by reference from Post-Effective Amendment No. 56 to the Registrant's Registration Statement as filed with the SEC on March 23, 2018.

(30) Incorporated herein by reference from Post-Effective Amendment No. 57 to the Registrant's Registration Statement as filed with the SEC on June 14, 2018.

(31) Incorporated herein by reference from Post-Effective Amendment No. 64 to the Registrant's Registration Statement as filed with the SEC on September 14, 2018

(32) Incorporated herein by reference from Post-Effective Amendment No. 66 to the Registrant's Registration Statement as filed with the SEC on November 27, 2018.

(33) Incorporated herein by reference from Post-Effective Amendment No. 68 to the Registrant's Registration Statement as filed with the SEC on November 12, 2019.

(34) Incorporated herein by reference from Post-Effective Amendment No. 69 to the Registrant's Registration Statement as filed with the SEC on November 26, 2019.

(35) Incorporated herein by reference from Post-Effective Amendment No. 73 to the Registrant's Registration Statement as filed with the SEC on February 28, 2020.

(36) Incorporated herein by reference from Post-Effective Amendment No. 75 to the Registrant's Registration Statement as filed with the SEC on August 20, 2020.

(37) Incorporated herein by reference from Post-Effective Amendment No. 77 to the Registrant's Registration Statement as filed with the SEC on November 24, 2020.

(38) Incorporated herein by reference from Post-Effective Amendment No. 78 to the Registrant's Registration Statement as filed with the SEC on November 25, 2020.

(39) Incorporated herein by reference from Post-Effective Amendment No. 79 to the Registrant's Registration Statement as filed with the SEC on November 24, 2021.

(40) Incorporated herein by reference from Post-Effective Amendment No. 80 to the Registrant's Registration Statement as filed with the SEC on November 22, 2022.

(41) Incorporated herein by reference from Post-Effective Amendment No. 81 to the Registrant's Registration Statement as filed with the SEC on November 22, 2023.

(42) [Incorporated herein by reference from Post-Effective Amendment No. 82 to the Registrant's Registration Statement as filed with the SEC on November 22, 2024.](http://www.sec.gov/Archives/edgar/data/851680/000119312524264133/0001193125-24-264133-index.html)

\* Filed herewith.

#### ITEM 29. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT
Not applicable.

#### ITEM 30. INDEMNIFICATION
Reference is hereby made to (a) Article V of the Registrant's Second Amended and Restated Declaration of Trust, incorporated herein by reference; and (b) Section 4 of the Distribution Agreements by and between the Registrant and DSIL Investment Services LLC, incorporated herein by reference.

The trustees and the officers of the Registrant and the personnel of the Registrant's administrator and distributor are insured under an errors and omissions liability insurance policy. The Registrant and its officers are also insured under the fidelity bond required by Rule 17g-1 under the Investment Company Act of 1940, as amended.

#### ITEM 31. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER
Domini Impact Investments LLC ("Domini") is a Massachusetts limited liability company with offices at 180 Maiden Lane, Suite 1302, New York, New York 10038, and is registered as an investment adviser under the Investment Advisers Act of 1940, as amended.

------

The officers of Domini are as follows:

---

| | | |
|:---|:---|:---|
| **Name and Capacity**<br> **with Domini** | **Other Business, Profession,**<br> **Vocation, or Employment During the**<br> **Past Two Fiscal Years** | **Principal**<br> **Business Address** |
| Amy Domini Thornton<br> Chairperson (since 2016); Member and Manager (since 1997); Portfolio Manager, Domini Sustainable Solutions Fund (since 2020) and Domini Impact Equity Fund (since 2018) | Portfolio Manager, Domini Sustainable Solutions Fund (since 2020), Domini International Opportunities Fund (2020-2025) and Domini Impact Equity Fund (since 2018); Chairperson (since 2016), Member (since 1997), and Manager (since 1997), Domini Impact Investments LLC; Manager (since 2002), Domini Holdings LLC (holding company); Trustee of the Trust (1990-2024) and Chair of the Trust Board (2016-2024), Domini Investment Trust; Private Trustee (since 1987), Loring, Wolcott & Coolidge Office (fiduciary); Partner (since 1994), Loring, Wolcott & Coolidge Fiduciary Advisors, LLP (investment advisor); Manager (since 2010), Loring, Wolcott & Coolidge Trust, LLC (trust company); Board Member (since 2020) Center for Responsible Lending (nonprofit); Board Member (2015-2024), Cambridge Public Library Foundation (nonprofit), Investment Committee Member, (since 2025), Threshold Foundation (philanthropy); Committee Member (since 2025), Committee on Corporate Social Responsibility, Episcopal Church (nonprofit) | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |
| Carole M. Laible<br> CEO and Manager (since 2016), Member (since 2006), Portfolio Manager, Domini Sustainable Solutions Fund (since 2020) and Domini Impact Equity Fund (since 2018) | Portfolio Manager, Domini Sustainable Solutions Fund (since 2020), Domini International Opportunities Fund (2020-2025), and Domini Impact Equity Fund (since 2018); CEO and Manager (since 2016), Member (since 2006), Domini Impact Investments LLC; Manager (since 2017), President and CEO (since 2002), Chief Financial Officer (since 1998), Secretary (since 1998), Treasurer (since 1998) and Registered Principal (since1998), DSIL Investment Services LLC; Manager (since 2016), Domini Holdings LLC (holding company); Trustee of the Domini Investment Trust (since 2024), Chair of the Trust Board (since 2024), President (since 2017), Domini Investment Trust. | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |

---

------

---

| | | |
|:---|:---|:---|
| **Name and Capacity**<br> **with Domini** | **Other Business, Profession,**<br> **Vocation, or Employment During the**<br> **Past Two Fiscal Years** | **Principal**<br> **Business Address** |
| Maurizio Tallini<br> Chief Compliance Officer (since 2005), Member (since 2007), Chief Information Security Officer (since 2015) | Chief Compliance Officer (since 2005), Member (since 2007), and Chief Information Security Officer (since 2015), Domini Impact Investments LLC; Vice President (since 2007); Chief Compliance Officer (since 2005), and Chief Information Security Officer (since 2015) Domini Investment Trust; Chief Compliance Officer (since 2015), Registered Principal (since 2014), and Chief Information Security Officer (since 2015), DSIL Investments Services LLC. | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |
| Megan L. Dunphy<br> General Counsel (since 2014);<br> Member (since 2017) | General Counsel (since 2014) and Member (since 2017), Domini Impact Investments LLC; Chief Legal Officer (since 2014), Vice President (since 2013) and Secretary (since 2005), Domini Investment Trust. | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |
| Danielle Thebeau<br> Chief Financial Officer (since August 2025) | Chief Financial Officer (since August 2025), Domini Impact Investments LLC; Treasurer and Principal Financial Officer (since August 2025), Domini Investment Trust; Audit Senior Manager (2011-2025), Deloitte and Touche LLP. | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |

---

The principal business address of Wellington Management Company LLP ("Wellington Management"), a Delaware limited liability partnership, is 280 Congress Street, Boston, Massachusetts 02210. Wellington Management is an investment adviser registered under the Investment Advisers Act of 1940. Additional information as to Wellington Management and the directors and officers of Wellington Management is included in Wellington Management's Form ADV filed with the Securities and Exchange Commission (File No. 801-15908), which is incorporated herein by reference and sets forth the officers and directors of Wellington Management and information as to any business, profession, vocation or employment of a substantial nature engaged in by those officers and directors during the past two years.

The principal business address of SSGA Funds Management, Inc. ("SSGA FM"), a Massachusetts corporation, is One Congress Street, Boston, Massachusetts 02114. SSGA FM is a wholly-owned subsidiary of State Street Global Advisors, Inc. which itself is a wholly-owned subsidiary of State Street Corporation ("State Street"), a publicly traded financial holding company organized in Massachusetts. SSGA FM is an investment adviser registered under the Investment Advisers Act of 1940. SSGA FM and certain other affiliates of State Street make up State Street Global Advisors ("SSGA"). Additional information as to SSGA FM and the directors and officers of SSGA FM is included in SSGA FM's Form ADV filed with the Securities and Exchange Commission (File No. 801- 60103), which is incorporated herein by reference and sets forth the officers and directors of SSGA FM and information as to any business, profession, vocation or employment of a substantial nature engaged in by those officers and directors during the past two years.

#### ITEM 32. PRINCIPAL UNDERWRITERS
(a) DSIL Investment Services LLC is the distributor for the Registrant.

(b) The information required by this Item 27 with respect to each manager or officer of DSIL Investment Services LLC is incorporated herein by reference from Schedule A of Form BD as filed by DSIL Investment Services LLC (File No. 008-44763) pursuant to the Securities Exchange Act of 1934, as amended.

(c) Not applicable.

------

#### ITEM 33. LOCATION OF ACCOUNTS AND RECORDS
The accounts and records of the Registrant are located, in whole or in part, at the offices of the Registrant and at the following locations:

---

| | |
|:---|:---|
| **Name:** | **Address:** |
| Domini Impact Investments LLC (manager) | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |
| Wellington Management Company LLP (submanager) | 280 Congress Street<br> Boston, MA 02210 |
| SSGA Funds Management, Inc. (submanager) | One Congress Street<br> Boston, Massachusetts 02114 |
| DSIL Investment Services LLC (distributor) | 180 Maiden Lane, Suite 1302,<br> New York, New York 10038 |
| State Street Bank and Trust Company (custodian) | One Congress Street, Suite 1,<br> Boston, MA 02114 |
| BNY Mellon Investment Servicing (U.S.) Inc. (former transfer agent) | 240 Greenwich Street<br> New York, NY 10286 |
| Iron Mountain Records Management (offsite records storage) | 100 Harbor Drive<br> Jersey City, NJ 07305 |
| Blank Rome LLP (counsel to independent trustees of the Trust) | 1271 Avenue of the Americas<br> New York, NY 10020 |
| Datto Corp. (electronic data media storage and backup server) | 101 Merritt 7, 7<sup>th</sup> floor<br> Norwalk, CT 06851 |
| Global Relay Communications Inc. (electronic vaulting of email and data media storage) | 220 Cambie Street, 2<sup>nd</sup> Floor<br> Vancouver, B.C.<br> Canada V6B2M9 |
| Advisor Vault (electronic data media storage and backup) | 1063 King St. W, Suite 247,<br> Hamilton, Ontario,<br> L8S 4S3 Canada |
| Ultimus Fund Solutions, LLC (transfer agent) | Ultimus Fund Solutions, LLC<br> 225 Pictoria Dr.<br> Suite 450<br> Cincinnati, OH 45246 |

---

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

#### ITEM 35. UNDERTAKINGS
Not applicable.

------

#### SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, and the Investment Company Act of 1940, as amended, the Registrant certifies that it meets all of the requirements for effectiveness of this Post-Effective Amendment (this "Amendment") to its Registration Statement on Form N-1A under Rule 485(b) under the Securities Act of 1933, as amended, and has duly caused this Amendment to be signed on its behalf by the undersigned, duly authorized, in the City of New York and the State of New York on November 21, 2025.

---

| | |
|:---|:---|
| DOMINI INVESTMENT TRUST | DOMINI INVESTMENT TRUST |
|  | on behalf of its series:<br> Domini Impact Equity Fund<br> Domini Sustainable Solutions Fund<br> Domini Impact International Equity Fund<br> Domini Impact Bond Fund |
| By: | /s/ Carole M. Laible |
|  | Carole M. Laible<br> President |

---

Pursuant to the requirements of the Securities Act of 1933, this Amendment has been signed below by the following persons in the capacities indicated below on November 21, 2025.

---

| | |
|:---|:---|
| **Signature** | **Title** |
|  /s/ Carole M. Laible<br> Carole M. Laible | President (Principal Executive Officer) Domini<br> Investment Trust |
|  /s/ Danielle Thebeau<br> Danielle Thebeau | Treasurer (Principal Accounting and Financial Officer) of Domini Investment Trust |
|  /s/ Carole M. Laible<br> Carole M. Laible | Trustee of Domini Investment Trust |
|  /s/ Caroline Flammer\*<br> Caroline Flammer | Trustee of Domini Investment Trust |
|  /s/ Gregory A. Ratliff\*<br> Gregory A. Ratliff | Trustee of Domini Investment Trust |
|  /s/ John L. Shields\*<br> John L. Shields | Trustee of Domini Investment Trust |
| \*By: /s/ Carole M. Laible |  |
| Carole M. Laible<br> Executed by Carole M. Laible on behalf of those indicated pursuant to Powers of Attorney dated September 9, 2025. |  |

---

------

#### INDEX TO EXHIBITS

---

| | |
|:---|:---|
| **EXHIBIT NO.** | **DESCRIPTION OF EXHIBIT** |
| a(16) | [Amendment to Declaration of Trust of the Registrant with respect to liquidation of Class A shares](d806602dex99a16.htm) |
| a(17) | [Amendment to Declaration of Trust of the Registrant with respect to liquidation of Domini International Opportunities Fund](d806602dex99a17.htm) |
| a(18) | [Amendment to Declaration of Trust of the Registrant with respect to registered agent](d806602dex99a18.htm) |
| g(12) | [Amendment to Custodian Agreement between the Registrant and State Street Bank and Trust Company effective ao 1/1/2025](d806602dex99g12.htm) |
| h(32)(i) | [Notice of termination of Shareholder Service Agreement between Registrant and Domini effective 6/1/2025](d806602dex99h32i.htm) |
| h(38) | [Expense Limitation Agreement effective as of 11/30/2025 with respect to the Domini Impact Equity Fund (Inv, Instl, Y), Domini Sustainable Solutions Fund (Investor and Institutional), Domini Impact International Equity Fund (Y) and Domini Impact Bond Fund (Inv, Instl, Y)](d806602dex99h38.htm) |
| h(39) | [Master Services Agreement regarding Transfer Agent and Shareholder Services between the Registrant and Ultimus Fund Solutions, LLC dated 6/1/2025](d806602dex99h39.htm) |
| h(40) | [Amendment to Administration Agreement between the Registrant and State Street Bank and Trust Company effective ao 1/1/2025](d806602dex99h40.htm) |
| j | [Consent of independent registered public accounting firm](d806602dex99j.htm) |
| p(5) | [Code of Ethics of SSGA Funds Management, Inc.](d806602dex99p5.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;q | [Powers of Attorney](d806602dex99q.htm) |
| 101.INS | XBRL Instance Document – the instance document does not appear on the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
| 101.SCH | XBRL Taxonomy Extension Schema Document |
| 101.CAL | XBRL Taxonomy Extension Calculation Linkbase |
| 101.DEF | XBRL Taxonomy Extension Definition Linkbase |
| 101.LAB | XBRL Taxonomy Extension Labels Linkbase |
| 101.PRE | XBRL Taxonomy Extension Presentation Linkbase |

---

## Ex-99.(A)(16)

Exhibit a16

**DOMINI INVESTMENT TRUST** 

Amendment

to Declaration of Trust

May 6, 2024

The undersigned, constituting at least a majority of the Trustees of the Trust named above and acting pursuant to the Trust's Second Amended and Restated Declaration of Trust as most recently amended and restated as of May 15, 2001 (as amended and in effect from time to time) (the "Declaration of Trust"), do hereby certify that in accordance with the provisions of the first sentence of Section 9.3(a) of the Declaration of Trust, the following amendment to the Declaration of Trust has been duly adopted by at least a majority of the Trustees of the Trust, effective as of July 26, 2024:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Establishment and Designation of Classes of Shares attached as <u>Appendix</u> <u>B</u> to the Declaration of Trust has been amended and restated to read as set forth on <u>Appendix</u> <u>B</u> attached hereto.

[SIGNATURE PAGE FOLLOWS]

------

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.

---

| | |
|:---|:---|
| /s/ Amy Domini Thornton<br>| /s/ Gregory Ratliff<br>|
| Amy Domini Thornton, as Trustee<br> and not individually | Gregory A. Ratliff, as Trustee<br> and not individually |
| /s/ Caroline Flammer<br>| /s/ John Shields<br>|
| Caroline Flammer, as Trustee<br> and not individually | John L. Shields, as Trustee<br> and not individually |

---

A copy of the Declaration of Trust, together with all amendments, is on file with the Secretary of the Commonwealth of Massachusetts. Notice is hereby given that each signatory above has executed this Amendment to the Declaration of Trust as a trustee, and not individually. The obligations arising out of the Declaration of Trust are not binding upon any trustee, shareholder, officer, employee or agent of the Trust individually.

------

<u>Appendix</u> <u>B</u>

**Amended and Restated** 

**Establishment and Designation of Classes of Shares** 

Pursuant to Section 6.11 of the Second Amended and Restated Declaration of Trust, as most recently amended and restated as of May 15, 2001 (as amended and in effect from time to time, the "Declaration"), of Domini Investment Trust (the "Trust"), the undersigned, being not less than a majority of the Trustees of the Trust, do hereby amend and restate the existing Establishment and Designation of Classes of Shares appended as <u>Appendix</u> <u>B</u> to the Declaration in order to change the name of Class R shares of Domini Impact Equity Fund to Class Y shares. No changes to the special and relative rights of the existing Classes are intended by this amendment and restatement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Classes listed below with respect to the identified Series of the Trust have been established and designated, with such relative rights, preferences, privileges, limitations, restrictions and other relative terms as are set forth below:

---

| | |
|:---|:---|
| <u>Series</u> | <u>Classes</u> |
| Domini Impact Equity Fund | Investor Shares<br> Class Y Shares (formerly known as<br> Class R Shares)<br> Institutional Shares |
| Domini Impact Bond Fund | Investor Shares<br> Institutional Shares<br> Class R Shares<br> Class Y Shares |
| Domini Impact International Equity Fund | Investor Shares<br> Institutional Shares<br> Class Y Shares |
| Domini Sustainable Solutions Fund | Investor Shares<br> Institutional Shares |
| Domini International Opportunities Fund | Investor Shares<br> Institutional Shares |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each Share of each Class is entitled to all the rights, privileges and preferences accorded to Shares under the Declaration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The number of authorized Shares of each Class is unlimited.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. All Shares of a Class of a Series shall be identical with each other and with the Shares of each other Class of the same Series except for such variations between Classes as may be authorized by the Trustees from time to time and set forth in the Trust's then currently effective registration statement under the Securities Act of 1933 to the extent pertaining to the offering of Shares of the Class of such Series, as the same may be amended and supplemented from time to time ("Prospectus"). The Trustees may change the name or other designation of a Class; and take such other action with respect to the Classes as the Trustees may deem desirable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. With respect to the Shares of a Class of a Series, (a) the time and method of determining the purchase price, (b) the fees and expenses, (c) the qualifications for ownership, if any, (d) minimum purchase amounts, if any, (e) minimum account size, if any, (f) the price, terms and manner of redemption of, (g) any conversion or exchange feature or privilege , (h) the relative dividend rights, and (i) any other relative rights, preferences, privileges, limitations, restrictions and other relative terms have been established by the Trustees in accordance with the Declaration and are set forth in the Prospectus with respect to such Class of such Series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The Trustees may from time to time modify any of the relative rights, preferences, privileges, limitations, restrictions and other relative terms of a Class of a Series that have been established by the Trustees, divide or combine the issued or unissued Shares of any Class of a Series into a greater or lesser number; classify or reclassify any issued or unissued Shares of any Class of a Series into one or more Classes of such Series; combine two or more Classes of a Series into a single Class of such Series; in each case without any action or consent of the Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The designation of any Class hereby shall not impair the power of the Trustees from time to time to designate additional Classes of Shares of a or terminate any one or more Classes of a Series hereby designated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Capitalized terms not defined herein have the meanings given to such terms in the Declaration.

## Ex-99.(A)(17)

Exhibit a17

**DOMINI INVESTMENT TRUST** 

Amendment

to Declaration of Trust

March 21, 2025

The undersigned, constituting at least a majority of the Trustees of the Trust named above and acting pursuant to the Trust's Second Amended and Restated Declaration of Trust as most recently amended and restated as of May 15, 2001 (as amended and in effect from time to time) (the "Declaration of Trust"), do hereby certify that in accordance with the provisions of the first sentence of Section 9.3(a) of the Declaration of Trust, the following amendment to the Declaration of Trust has been duly adopted by at least a majority of the Trustees of the Trust, effective as of the close of business on March 21, 2025:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Establishment and Designation of Series of Shares of Beneficial Interests (par value $0.00001 per Share) attached as <u>Appendix</u> <u>A</u> to the Declaration of Trust has been amended and restated to read as set forth on <u>Appendix</u> <u>A</u> attached hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Establishment and Designation of Classes of Shares attached as <u>Appendix</u> <u>B</u> to the Declaration of Trust has been amended and restated to read as set forth on <u>Appendix</u> <u>B</u> attached hereto.

[SIGNATURE PAGE FOLLOWS]

------

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.

---

| | |
|:---|:---|
| /s/ Carole M. Laible<br>Carole M. Laible, as Trustee<br> and not individually | /s/ Gregory Ratliff<br>Gregory A. Ratliff, as Trustee<br> and not individually |
| /s/ Caroline Flammer<br>Caroline Flammer, as Trustee<br> and not individually | /s/ John L. Shields<br>John L. Shields, as Trustee<br> and not individually |

---

A copy of the Declaration of Trust, together with all amendments, is on file with the Secretary of the Commonwealth of Massachusetts. Notice is hereby given that each signatory above has executed this Amendment to the Declaration of Trust as a trustee, and not individually. The obligations arising out of the Declaration of Trust are not binding upon any trustee, shareholder, officer, employee or agent of the Trust individually.

------

<u>Appendix</u> <u>A</u>

**Amended and Restated** 

**Establishment and Designation of Series of Shares of** 

**Beneficial Interest (par value $0.00001 per Share)** 

Pursuant to Section 6.11 of the Second Amended and Restated Declaration of Trust, as most recently amended and restated as of May 15, 2001 (as amended and in effect from time to time, the "Declaration"), of Domini Investment Trust (the "Trust"), the undersigned, being not less than a majority of the Trustees of the Trust, do hereby amend and restate the existing Establishment and Designation of Series appended as <u>Appendix</u> <u>A</u> to the Declaration in order to (i) terminate the Domini International Opportunities Fund. No changes to the special and relative rights of the existing Series are intended by this amendment and restatement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Effective as of the close of business on March 21, 2025, the Series are hereby designated as follows:

&nbsp;&nbsp;&nbsp;&nbsp;Domini Impact Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;Domini Impact International Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;Domini Impact Bond Fund

&nbsp;&nbsp;&nbsp;&nbsp;Domini Sustainable Solutions Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. Each Series (referred to herein as a "Fund" and, collectively, the "Funds") shall be authorized to hold cash, invest in securities, instruments and other property and use investment techniques as from time to time described in the Trust's then currently effective registration statement under the Securities Act of 1933 to the extent pertaining to the offering of Shares of the Fund. Each Share of each Fund shall be redeemable as provided in the Declaration. Subject to differences among classes, each Share of each Fund shall be entitled to vote on matters on which Shares of the Fund shall be entitled to vote as provided in Section 6.8 of the Trust's Declaration of Trust, shall represent a *pro rata* beneficial interest in the assets allocated or belonging to the Fund, and shall be entitled to receive its *pro rata* share of the net assets of the Fund upon liquidation of the Fund, all as provided in Section 6.9 of the Declaration of Trust. The proceeds of sales of Shares of each Fund, together with any income and gain thereon, less any diminution or expenses thereof, shall irrevocably belong to the Fund, unless otherwise required by law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Shareholders of each Fund shall vote separately as a class on any matter to the extent required by, and any matter shall have been deemed effectively acted upon with respect to the Fund as provided in, Rule 18f-2, as from time to time in effect, under the 1940 Act or any successor rule, and the Declaration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The assets and liabilities of the Trust shall be allocated among each Fund and any series of the Trust designated in the future as set forth in Section 6.9 of the Declaration.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. Subject to the provisions of Section 6.9 and Article IX of the Declaration, the Trustees (including any successor Trustees) shall have the right at any time and from time to time to reallocate assets and expenses or to change the designation of each Fund, or otherwise to change the special and relative rights of each Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. Any Fund may be terminated by the Trustees at any time by written notice to the Shareholders of the Fund.

------

<u>Appendix</u> <u>B</u>

**Amended and Restated** 

**Establishment and Designation of Classes of Shares** 

Pursuant to Section 6.11 of the Second Amended and Restated Declaration of Trust, as most recently amended and restated as of May 15, 2001 (as amended and in effect from time to time, the "Declaration"), of Domini Investment Trust (the "Trust"), the undersigned, being not less than a majority of the Trustees of the Trust, do hereby amend and restate the existing Establishment and Designation of Classes of Shares appended as <u>Appendix</u> <u>B</u> to the Declaration in order to reflect (i) the termination of the Domini International Opportunities Fund effective as of the close of business on March 21, 2025. No changes to the special and relative rights of the existing Classes are intended by this amendment and restatement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Classes listed below with respect to the identified Series of the Trust have been established and designated, with such relative rights, preferences, privileges, limitations, restrictions and other relative terms as are set forth below:

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Series</u> | <u>Classes</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domini Impact Equity Fund | Investor Shares |
|  | Class Y Shares (formerly known as<br>Class R Shares) |
|  | Institutional Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domini Impact Bond Fund | Investor Shares<br> Institutional Shares |
|  | Class R Shares<br> Class Y Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domini Impact International Equity Fund | Investor Shares<br> Institutional Shares<br> Class Y Shares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Domini Sustainable Solutions Fund | Investor Shares<br> Institutional Shares |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each Share of each Class is entitled to all the rights, privileges and preferences accorded to Shares under the Declaration.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The number of authorized Shares of each Class is unlimited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. All Shares of a Class of a Series shall be identical with each other and with the Shares of each other Class of the same Series except for such variations between Classes as may be authorized by the Trustees from time to time and set forth in the Trust's then currently effective registration statement under the Securities Act of

------

1933 to the extent pertaining to the offering of Shares of the Class of such Series, as the same may be amended and supplemented from time to time ("Prospectus"). The Trustees may change the name or other designation of a Class; and take such other action with respect to the Classes as the Trustees may deem desirable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. With respect to the Shares of a Class of a Series, (a) the time and method of determining the purchase price, (b) the fees and expenses, (c) the qualifications for ownership, if any, (d) minimum purchase amounts, if any, (e) minimum account size, if any, (f) the price, terms and manner of redemption of, (g) any conversion or exchange feature or privilege , (h) the relative dividend rights, and (i) any other relative rights, preferences, privileges, limitations, restrictions and other relative terms have been established by the Trustees in accordance with the Declaration and are set forth in the Prospectus with respect to such Class of such Series.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. The Trustees may from time to time modify any of the relative rights, preferences, privileges, limitations, restrictions and other relative terms of a Class of a Series that have been established by the Trustees, divide or combine the issued or unissued Shares of any Class of a Series into a greater or lesser number; classify or reclassify any issued or unissued Shares of any Class of a Series into one or more Classes of such Series; combine two or more Classes of a Series into a single Class of such Series; in each case without any action or consent of the Shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The designation of any Class hereby shall not impair the power of the Trustees from time to time to designate additional Classes of Shares of a or terminate any one or more Classes of a Series hereby designated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Capitalized terms not defined herein have the meanings given to such terms in the Declaration.

## Ex-99.(A)(18)

Exhibit a18

**DOMINI INVESTMENT TRUST** 

Amendment

to Declaration of Trust

May 1, 2025

The undersigned, constituting at least a majority of the Trustees of the Trust named above and acting pursuant to the Trust's Second Amended and Restated Declaration of Trust as most recently amended and restated as of May 15, 2001 (as amended and in effect from time to time) (the "Declaration of Trust"), do hereby certify that in accordance with the provisions of the first sentence of Section 9.3(a) of the Declaration of Trust, the following amendment to the Declaration of Trust has been duly adopted by at least a majority of the Trustees of the Trust, effective on May 9, 2025:

Article X, Section 10.3 of the Declaration of Trust is amended to change the Trust's agent for service of process in the Commonwealth of Massachusetts from Amy L. Domini, 230 Congress Street, Boston, Massachusetts 02110, to United Corporate Services, Inc., 44 School Street, Ste. 505, Boston, Massachusetts 02108.

[SIGNATURE PAGE FOLLOWS]

------

IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written above.

---

| | |
|:---|:---|
| /s/ Carole M. Laible<br>Carole M. Laible, as Trustee<br> and not individually | /s/ Gregory Ratliff<br>Gregory A. Ratliff, as Trustee<br> and not individually |
| /s/ Caroline Flammer<br>Caroline Flammer, as Trustee<br> and not individually | /s/ John Shields<br>John L. Shields, as Trustee<br> and not individually |

---

A copy of the Declaration of Trust, together with all amendments, is on file with the Secretary of the Commonwealth of Massachusetts. Notice is hereby given that each signatory above has executed this Amendment to the Declaration of Trust as a trustee, and not individually. The obligations arising out of the Declaration of Trust are not binding upon any trustee, shareholder, officer, employee or agent of the Trust individually.

## Ex-99.(G)(12)

Exhibit g12

**AMENDMENT TO MASTER CUSTODIAN AGREEMENT** 

**THIS AMENDMENT TO THE MASTER CUSTODIAN AGREEMENT** (the "Amendment") is dated as of April 17, 2025, and effective as of January 1, 2025, by and among each management investment company identified on <u>Appendix A</u> thereto (each, the "***Fund***" and collectively, the "***Funds***"), and State Street Bank and Trust Company, a Massachusetts trust company (the "***Custodian***").

**WITNESSETH:** 

**WHEREAS**, the Funds and the Custodian are parties to that certain Master Custodian Agreement dated as of January 17, 2020, and effective as of April 1, 2019, as amended, modified or supplemented from time to time (the "***Agreement***"); and

**WHEREAS**, the Funds and the Custodian desire to amend and supplement the Agreement upon the following terms and conditions.

**NOW THEREFORE**, for and in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Funds and the Custodian hereby agree as follows:

1. Section 16.1 <u>Term</u> is hereby amended to read:

"This Agreement shall remain in full force and effect for an initial term ending January 1, 2029 (the "***Initial Term***"). After the expiration of the Initial Term, this Agreement shall automatically renew for successive one-year terms unless a written notice of non-renewal is delivered by the non-renewing party no later than sixty (60) days prior to the expiration of the Initial Term or any renewal term, as the case may be. A written notice of non-renewal may be given as to a Fund or a Portfolio."

2. Section 20.11 <u>Confidentiality</u> is hereby amended by inserting the following at the end:

"Each party may store confidential information with third-party providers of information technology services, and permit access to confidential information by such providers as reasonably necessary for the receipt of cloud computing and storage services and related hardware and software maintenance and support. Such confidential information must be disclosed under obligations of confidentiality pursuant to this Section 20.11."

3. New Section 20.20 is hereby added to read:

Section 20.20 <u>Qualified Financial Contracts</u>. In the event that a Fund is domiciled and organized outside of the United States, such Fund and the Custodian hereby agree to be bound by the terms of the QFC addendum attached hereto as <u>Appendix B.</u>

4. <u>Appendix A</u> shall be replaced in its entirety by the <u>Appendix A</u> attached hereto and
incorporated herein by this reference.

5. New <u>Appendix B</u> is attached hereto and incorporated herein by this reference.

------

Exhibit g12

6. General Provisions. This Amendment will at all times and in all respects be construed, interpreted, and
governed by the laws of The Commonwealth of Massachusetts, without giving effect to the conflict of laws provisions thereof. This Amendment may be executed in any number of counterparts, each constituting an original and all considered one and the
same agreement. This Amendment is intended to modify and amend the Agreement and the terms of this Amendment and the Agreement are to be construed to be cumulative and not exclusive of each other. Except as provided herein, the Agreement is hereby
ratified and confirmed and remains in full force and effect.

*[Signature Page Follows]* 

------

Exhibit g12

**IN WITNESS WHEREOF**, the parties have caused this Amendment to be executed by their duly authorized officers to be effective as of the date first above written.

---

| | |
|:---|:---|
| **STATE STREET BANK AND TRUST COMPANY** | **STATE STREET BANK AND TRUST COMPANY** |
| By: | /s/ Suzanne M. Hinckley<br>|
| Name: | Suzanne M. Hinckley |
| Title: | SVP |
| **DOMINI INVESTMENT TRUST<br>On behalf of each Fund set forth on Appendix A** | **DOMINI INVESTMENT TRUST<br>On behalf of each Fund set forth on Appendix A** |
| By: | /s/ CM Laible<br>|
| Name: | Carole M. Laible |
| Title: | President |

---

------

Exhibit g12

**<u>APPENDIX A</u>**

**TO** 

**MASTER CUSTODIAN AGREEMENT** 

**<u>LIST OF MANAGEMENT INVESTMENT COMPANIES AND PORTFOLIOS THEREOF</u>**

**<u>Domini Investment Trust:</u>**

Domini Impact Equity Fund

Domini Impact Bond Fund

Domini Impact International Equity Fund

Domini Sustainable Solutions Fund

This Appendix A reflects the removal of Domini International Opportunities Fund from the Agreement as of March 21, 2025.

------

Exhibit g12

**<u>APPENDIX B</u>**

**TO** 

**MASTER CUSTODIAN AGREEMENT** 

**QFC Addendum** 

**Opt-In to U.S. Special Resolution Regime**. Notwithstanding anything to the contrary in this Agreement or any other agreement, the parties hereto expressly acknowledge and agree that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In the event the Custodian becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer or assignment of this Agreement (and any interest and obligation in or under, and any property securing, this Agreement) by the Custodian will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement (and any interest and obligation in or under, and any property securing, this Agreement) were governed by the laws of the United States or a state of the United States; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event the Custodian or an Affiliate of the Custodian becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights with respect to this Agreement that may be exercised against the Custodian are permitted to be exercised to no greater extent than the Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement (and any interest and obligation in or under, and any property securing, this Agreement) were governed by the laws of the United States or a state of the United States.

**Adherence to the ISDA Protocol.** At such times as the parties to this Agreement have adhered to the ISDA Protocol and this Agreement is or is deemed modified or amended by the ISDA Protocol, the terms of the ISDA Protocol will supersede the terms of this QFC Addendum as included as part of this Agreement, and in the event of any inconsistency between this QFC Addendum and the ISDA Protocol, the ISDA Protocol will prevail.

**Definitions**. As used in this QFC Addendum:

"Affiliate" has the meaning given in section 2(k) of the Bank Holding Company Act (12 U.S.C. §1841(k)) and section 225.2(a) of the Federal Reserve Board's Regulation Y (12 CFR § 225.2(a)).

"Default Right" means any:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) right of a party, whether contractual or otherwise (including, without limitation, rights incorporated by reference to any other contract, agreement, or document, and rights afforded by statute, civil code, regulation, and common law), to liquidate, terminate, cancel, rescind, or accelerate such agreement or transactions thereunder, set off or net amounts owing in respect thereto (except rights related to same-day payment netting), exercise remedies in respect of collateral or other credit support or property related thereto (including the purchase and sale of property), demand payment or delivery thereunder or in respect thereof (other than a right or operation of a contractual provision arising solely from a change in the value of collateral or margin or a change in the amount of an economic exposure), suspend,

------

Exhibit g12

delay, or Exhibit g12 defer payment or performance thereunder, or modify the obligations of a party thereunder, or any similar rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) right or contractual provision that alters the amount of collateral or margin that must be provided with respect to an exposure thereunder, including by altering any initial amount, threshold amount, variation margin, minimum transfer amount, the margin value of collateral, or any similar amount, that entitles a party to demand the return of any collateral or margin transferred by it to the other party or a custodian or that modifies a transferee's right to reuse collateral or margin (if such right previously existed), or any similar rights, in each case, other than a right or operation of a contractual provision arising solely from a change in the value of collateral or margin or a change in the amount of an economic exposure.

"ISDA" refers to the International Swaps and Derivatives Association, Inc.

"ISDA Protocol" means the ISDA 2018 U.S. Resolution Stay Protocol as published by ISDA as of July 31, 2018.

"U.S. Special Resolution Regime" means the Federal Deposit Insurance Act (12 U.S.C. §1811–1835a) and regulations promulgated thereunder and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. § 5381–5394) and regulations promulgated thereunder.

## Ex-99.(H)(32)(I)

Exhibit h32i

![LOGO](g806602g05q37.jpg)

June 1, 2025

Domini Investment Trust

c/o Domini Impact Investments LLC

180 Maiden Lane, Suite 1302

New York, NY 10038

Re: Termination of Shareholder Services Agreement between the Domini Investment Trust and Domini Impact Investments LLC dated as of June 2, 2008, as amended

Dear Domini Funds:

Domini Impact Investments LLC ("Domini") currently provides certain services to the Domini Investment Trust (the "Trust") pursuant to a Shareholder Service Agreement dated as of June 2, 2008, as amended (referred to as the "Agreement"). Please be advised that the Board of Trustees of the Trust (the "Board") was recently informed of the planned termination of the Agreement as of June 1, 2025, in connection with the Board's review and approval of a new Master Services Agreement with Ultimus Fund Solutions, LLC, with respect to transfer agency services to be provided to the Trust.

Domini hereby provides the Trust with confirmation of termination of the Agreement as of the close of business on May 31, 2025.

If you have any questions, please do not hesitate to contact Megan Dunphy, Domini's General Counsel at <u>mdunphy@domini.com</u> or 212-217-1114, or me at <u>claible@domini.com</u> or 212-217-1058.

Sincerely,

/s/Carole M. Laible

Carole M. Laible

Chief Executive Officer

Domini Impact Investments LLC

## Ex-99.(H)(38)

Exhibit h38

![LOGO](g806602g05q37.jpg)

November 1, 2025

Domini Investment Trust

180 Maiden Laine, Suite 1302

New York, New York 10038

Re: Amended and Restated Expense Limitation Agreement

Ladies and Gentlemen:

Domini Impact Investments LLC currently provides oversight and administrative and management services to Domini Investment Trust (the "Trust"), a Massachusetts business trust. We hereby agree with the Trust that we will waive expenses payable to us by the Trust's series set forth below (each a "Fund") or will reimburse the Fund for all expenses payable by the Fund to the extent necessary so that the Fund's aggregate expenses (excluding brokerage fees and commissions, interest, taxes, and other extraordinary expenses), net of waivers and reimbursements, would not exceed, on a per annum basis, the percentage set forth below of that Fund's average daily net assets.

---

| | |
|:---|:---|
| <br> **Fund** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Expense Cap** <br>|
|  Domini Impact Equity Fund – Investor shares | 1.09% |
|  Domini Impact Equity Fund – Institutional shares | 0.74% |
|  Domini Impact Equity Fund – Class Y shares | 0.80% |
|  Domini Sustainable Solutions Fund – Investor Shares | 1.30% |
|  Domini Sustainable Solutions Fund – Institutional Shares | 1.05% |
|  Domini Impact International Equity Fund – Class Y Shares | 1.12% |
|  Domini Impact Bond Fund – Investor Shares | 0.87% |
|  Domini Impact Bond Fund – Institutional Shares | 0.57% |
|  Domini Impact Bond Fund – Class Y | 0.65% |

---

The agreement in this letter shall take effect on November 30, 2025, and shall remain in effect through November 30, 2026, absent an earlier modification as agreed to by the Adviser and the Board of Trustees, which oversees the Fund.

![LOGO](g806602g88b07.jpg)

------

Please sign below to confirm your agreement with the terms of this letter.

---

| | |
|:---|:---|
| Sincerely, | Sincerely, |
| Domini Impact Investments LLC | Domini Impact Investments LLC |
| By: | /s/ Carole M. Laible |
|  | Carole M. Laible |
|  | Chief Executive Officer |

---

---

| | |
|:---|:---|
| Agreed: Domini Investment Trust | Agreed: Domini Investment Trust |
| By: | /s/ Danielle Thebeau |
|  | Danielle Thebeau |
|  | Treasurer |

---

## Ex-99.(H)(39)

**MASTER SERVICES AGREEMENT** 

This Master Services Agreement (this "**Agreement**"), dated June 1, 2025, is between **Domini Investment Trust** (the "**Trust**"), a Massachusetts business trust, and **Ultimus Fund Solutions, LLC** ("**Ultimus**"), a limited liability company organized under the laws of the state of Ohio.

**<u>Background</u>**

The Trust is an open-end management investment company registered or to be registered under the Investment Company Act of 1940, as amended (the "**Investment Company Act**"), and it desires that Ultimus perform certain services for each of its series listed on Schedule A (as amended from time to time) (individually referred to herein as a "**Fund**" and collectively as the "**Funds**"). Ultimus is willing to perform such services on the terms and conditions set forth in this Agreement.

**<u>Terms and Conditions</u>**

**1.** **Retention of Ultimus** 

The Trust retains Ultimus to act as the service provider on behalf of each Fund for the services set forth in each Addendum selected below (collectively, the "**Services**"), which are incorporated by reference into this Agreement. Ultimus accepts such employment to perform the selected Services.

☐ Fund Accounting Addendum

☐ Fund Administration Addendum

☒ Transfer Agent and Shareholder Servicing Addendum

**2.** **Allocation of Charges and Expenses** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.1.*** Ultimus shall furnish at its own expense the executive, supervisory, and clerical personnel
necessary to perform its obligations under this Agreement. Ultimus shall also pay all compensation of any officers of the Trust who are affiliated persons of Ultimus, except when such person is serving as the Trust's chief compliance officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.2.*** The Trust, on behalf of each Fund, assumes and shall pay or cause to be paid all other
expenses of the Trust or a Fund not otherwise allocated under this Section 2, including, without limitation, organization costs, taxes, expenses for legal and auditing services, the expenses of preparing (including typesetting), printing and
mailing reports, prospectuses, statements of additional information, proxy statements and related materials, all expenses incurred in connection with issuing and redeeming shares, the costs of custodial services, the cost of initial and ongoing
registration or qualification of the shares under federal and state securities laws, fees and reimbursable expenses of Trustees who are not affiliated persons of Ultimus or the investment adviser(s) to the Trust, insurance premiums, interest,
brokerage costs, litigation and other extraordinary or nonrecurring expenses, and all fees and charges of investment advisers to the Trust.

------

**3.** **Compensation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.1.*** The Trust, on behalf of each Fund, shall pay for the Services to be provided by Ultimus under
this Agreement in accordance with, and in the manner set forth in, the fee letter attached to each addendum (each a "**Fee Letter** "), which may be amended from time to time. Each Fee Letter is incorporated by reference into this
Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.2.*** If this Agreement becomes effective subsequent to the first day of a month, Ultimus'
compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth in the applicable Fee Letter. If this Agreement terminates before the last day of a
month, Ultimus' compensation for that part of the month in which the Agreement is in effect shall be equal to a full calendar month's worth of fees as calculated in a manner consistent with the calculation of the fees as set forth in the
applicable Fee Letter. The Trust shall promptly pay Ultimus' compensation for the preceding month.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.3.*** In the event that the U.S. Securities and Exchange Commission (the "**SEC** "),
Financial Industry Regulatory Authority, Inc. ()"**FINRA** "), or any other regulator or self-regulatory authority adopts regulations and requirements relating to the payment of fees to service providers or which would result in any
material increases in costs to provide the Services under this Agreement, the parties agree to negotiate in good faith amendments to this Agreement in order to comply with such requirements and provide for additional compensation for Ultimus as
mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.4.*** In the event that any fees are disputed, the Trust shall, on or before the due date, pay all
undisputed amounts due hereunder and notify Ultimus in writing of any disputed fees which it is disputing in good faith. Payment for such disputed fees shall be due on or before the tenth (10<sup>th</sup>)
business day after the day on which Ultimus provides to the Trust documentation which reasonably supports the disputed charges.

**4.** **Reimbursement of Expenses** 

In addition to paying Ultimus the fees described in each Fee Letter, the Trust, on behalf of each Fund, agrees to reimburse Ultimus for its actual reimbursable expenses in providing services hereunder, if applicable, including, without limitation, the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.1.*** Reasonable travel and lodging expenses incurred by officers and employees of Ultimus in
connection with attendance at meetings of the Trust's Board of Trustees (the "**Board**") or any committee thereof and shareholders' meetings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.2.*** All freight and other delivery charges incurred by Ultimus in delivering materials on behalf
of the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.3.*** All direct telephone, telephone transmission and telecopy or other electronic transmission
expenses incurred by Ultimus in communication with the Trust, the Trust's investment adviser(s) or custodian, counsel for the Trust or a Fund, counsel for the Trust's independent Trustees, the Trust's independent accountants,
dealers or others as required for Ultimus to perform the Services;

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 2 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.4.*** The cost of obtaining primary and secondary security market quotes and any securities data,
including, but not limited to, the cost of fair valuation services and the cost of obtaining corporate action related data and securities master data;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.5.*** The cost of electronic or other methods of storing records and materials;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.6.*** All fees and expenses incurred in connection with any licensing of software, subscriptions to
databases, custom programming or systems modifications required to provide any special reports or services requested by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.7.*** Any expenses Ultimus shall incur at the direction of an officer of the Trust thereunto duly
authorized other than an employee or other affiliated person of Ultimus who may otherwise be named as an authorized representative of the Trust for certain purposes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.8.*** A reasonable allocation of the costs associated with the preparation of Ultimus' Service
Organization Control 1 Reports ()"**SOC 1 Reports** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.9.*** Any additional expenses reasonably incurred by Ultimus in the performance of its duties and
obligations under this Agreement.

**5.** **Maintenance of Books and Records; Record Retention** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.1.*** Ultimus shall maintain and keep current the accounts, books, records and other documents
relating to the Services as may be required by applicable law, rules, and regulations, including Federal Securities Laws as defined under Rule 38a-1 under the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.2.***  ***Ownership of Records*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Ultimus agrees that all such books, records, and other data (except computer programs and procedures)
developed to perform the Services (collectively, "**Client Records**") shall be the property of the Trust or Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Ultimus agrees to provide the Client Records to the Trust or a Fund, at the expense of the Trust or
Fund, upon reasonable request, and to make such books and records available for inspection by the Trust, a Fund, or its regulators at reasonable times.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* Ultimus agrees to furnish to the Trust or a Fund, at the expense of the Trust or Fund, all Client
Records in the electronic or other medium in which such material is then maintained by Ultimus as soon as practicable after any termination of this Agreement. Unless otherwise required by applicable law, rules, or regulations, Ultimus shall promptly
turn over to the Trust or Fund or, upon the written request of the Trust or Fund, destroy the Client Records maintained by Ultimus pursuant to this Agreement. If Ultimus is required by applicable law, rule, or regulation to maintain any Client
Records, it will provide the Trust or Fund with copies as soon as reasonably practical after the termination.

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 3 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.3.*** Ultimus agrees to keep confidential all Client Records, except when requested to divulge such
information by duly constituted authorities or court process.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.4.*** If Ultimus is requested or required to divulge such information by duly constituted
authorities or court process, Ultimus shall, unless prohibited by law, promptly notify the Trust or Fund of such request(s) so that the Trust or Fund may seek, at the expense of the Trust or Fund, an appropriate protective order.

**6.** **Subcontracting** 

Ultimus may, at its expense, subcontract with any entity or person concerning the provision of the Services; provided, however, that Ultimus shall not be relieved of any of its obligations under this Agreement by the appointment of such subcontractor, and that Ultimus shall be responsible, to the extent provided in Section 10, for all acts of a subcontractor.

**7.** **Effective Date** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7.1.*** This Agreement shall become effective as of the date first above written with respect to each
Fund in existence on such date (or, if a particular Fund is not in existence on that date, on the date such Fund commences operation) (the "**Agreement Effective Date** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7.2.*** Each Addendum shall become effective as of the date first written in the Addendum with respect
to each Fund in existence on such date (or, if a particular Fund is not in existence on that date, on the date such Fund commences operation).

**8.** **Term** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.1.***  ***Initial Term.*** This Agreement shall continue in effect, unless earlier terminated by either
party as provided under this Section 8, for a period of seven (7) years from the date first above written (the "**Initial Term** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.2.***  ***Renewal Terms.*** Immediately following the Initial Term this Agreement shall automatically renew
for successive one-year periods (a "**Renewal Term** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.3.***  ***Termination.*** A party may terminate this Agreement under the following circumstances.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* *Termination for Good Cause.* During the Initial Term or a Renewal Term, a party (the
" **Terminating Party**") may only terminate this Agreement against the other party (the "**Non-Terminating Party"**) for good cause. For purposes of this Agreement,
" **good cause**" shall mean:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) a material breach of this Agreement by the Non-Terminating Party
that has not been cured or remedied within 30 days after the Non-Terminating Party receives written notice of such breach from the Terminating Party;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) the Non-Terminating Party takes a position regarding compliance with
Federal Securities Laws that the Terminating Party reasonably disagrees with, the

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 4 of 18

------

Terminating Party provides 30 days' prior written notice of such disagreement, and the parties fail to come to agreement on the position within the 30 day notice period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) a final and unappealable judicial, regulatory, or administrative ruling or order in which the Non-Terminating Party has been found guilty of criminal or unethical behavior in the conduct of its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) notification of a recordkeeping system conversion to any other system without the Trust's prior
written consent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) the authorization or commencement of, or involvement by way of pleading, answer, consent, or acquiescence
in, a voluntary or involuntary case under the Bankruptcy Code of the United States Code, as then in effect; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) if the Board approves liquidation of a Fund, this Agreement may be terminated with respect to such Fund
only, and such termination shall be deemed to be for "good cause"; provided that this Agreement remains in full force and effect with respect to all non-liquidating Funds; the only exception being
if the liquidating Fund is the last or only Fund in the Trust, in which event this Agreement shall be terminated in its entirety upon liquidation of that sole remaining Fund and such termination shall be deemed to be for "good cause".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* *Out-of-Scope Termination.* If a Trust or Fund demands services that are beyond the scope of this Agreement and any incorporated Addendum, and the parties cannot agree on appropriate terms relating to such out-of-scope services, Ultimus may terminate this Agreement upon 60 days' prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* *End-of-Term Termination.* A party can terminate this Agreement at the end of the Initial Term or a Renewal Term by providing written notice of termination to the other party at least 90 days prior to the end of the Initial Term or then-current Renewal Term.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* *Early Termination.* Any termination by the Trust or Fund other than termination under Section 8.3.A-C is deemed an "**Early Termination.**" The Trust that provides a notice of early termination is subject to an "**Early Termination Fee**" equal to the pro rated fee
amount due to Ultimus through the end of the then-current term as calculated in the applicable Fee Letter. Notwithstanding the foregoing, the Trust shall be permitted to terminate this Agreement without penalty or an Early Termination Fee if Ultimus
provides notification of a conversion of the existing record keeping system for shareholder accounts to any other recordkeeping system without the Trust's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* *Final Payment .* Any unpaid compensation, reimbursement of expenses, or Early Termination Fee is
due to Ultimus within 15 calendar days of the termination date provided in the notice of termination.

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 5 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* *Transition.* Upon termination of this Agreement,  **** ** Ultimus will cooperate with any
reasonable request of the Trust to effect a prompt transition to a new service provider selected by the Trust. Ultimus shall be entitled to collect from the Trust, in addition to the compensation described in each applicable Fee Letter, (1) the
amount of all of Ultimus' cash disbursements reasonably made for services in connection with Ultimus' activities in effecting such termination, including, without limitation, the delivery to the Trust or its designees of the
Trust's property, records, instruments, and documents, and (2) a reasonable de-conversion fee as mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*G.* Liquidation. Upon termination of this Agreement with respect to the Trust or a Fund due to the
liquidation of the Trust or such Fund, Ultimus shall be entitled to collect from the Trust, in addition to the compensation described in each applicable Fee Letter, (1) the amount of all of Ultimus' cash disbursements reasonably made for
services in connection with Ultimus' activities in effecting such termination, including, without limitation, the delivery to the Trust or its designees of the Trust's property, records, instruments, and documents, and (2) a
reasonable liquidation fee as mutually agreed to by the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.4.***  ***No Waiver.*** **  Failure by either party to terminate this Agreement for a particular cause
shall not constitute a waiver of its right to subsequently terminate this Agreement for the same or any other cause.

**9.** **Additional Funds or Classes of Shares** 

In the event that the Trust establishes one or more series or classes of shares after the Agreement Effective Date, each such series or class of shares shall become, at the discretion of the Trust and Ultimus, a Fund or class of shares of a Fund (as applicable) under this Agreement and shall be added to Schedule A and the applicable Fee Letter(s) as appropriate.

**10.** **Standard of Care; Limits of Liability; Indemnification** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.1.***  ***Standard of Care.*** Ultimus shall provide its services as transfer agent in accordance with the
applicable provisions of Section 17A of the 1934 Act, Ultimus shall exercise reasonable care, diligence and expertise of a transfer agent having responsibility for providing transfer agent services to investment companies registered under the
Investment Company Act. Each party's duties are limited to those expressly set forth in this Agreement and the parties do not assume any implied duties. Each party shall use its best efforts in the performance of its duties and act in good
faith in performing the Services or its obligations under this Agreement. Each party shall be liable for any damages, losses or costs arising directly or indirectly out of such party's failure to perform its duties under this Agreement to the
extent such damages, losses or costs arise directly or indirectly out of its willful misfeasance, bad faith, gross negligence in the performance of its duties, or reckless disregard of its obligations and duties hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.2.***  ***Limits of Liability*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Ultimus shall not be liable for any Losses (as defined below) arising from the following:

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 6 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) performing Services or duties pursuant to any oral, written, or electric instruction, notice, request,
record, order, document, report, resolution, certificate, consent, data, authorization, instrument, or item of any kind that Ultimus reasonably believes to be genuine and to have been signed, presented, or furnished by a duly authorized
representative of the Trust or any Fund (other than an employee or other affiliated persons of Ultimus who may otherwise be named as an authorized representative of the Trust for certain purposes);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) operating under its own initiative, in good faith and in accordance with the standard of care set forth
herein, in performing its duties or the Services;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) using valuation information provided by the Trust's approved third-party pricing service(s) or the
investment adviser(s) to the Fund for the purpose of valuing a Fund's portfolio holdings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) any default, damages, costs, loss of data or documents, errors, delay, or other loss whatsoever caused by
events beyond Ultimus' reasonable control, including, without limitation, corrupt, faulty or inaccurate data provided to Ultimus by third-parties; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) any error, action or omission by the Trust or other past or current service provider.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Ultimus may apply to the Trust at any time for instructions and may consult with counsel for the
Trust or a Fund, counsel for the Trust's independent Trustees, and with accountants and other experts with respect to any matter arising in connection with Ultimus' duties or the Services. Ultimus shall not be liable or accountable for
any action taken or omitted by it in good faith in accordance with such instruction or with the reasonable opinion of such counsel, accountants, or other experts qualified to render such opinion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* A copy of the Trust's Agreement and Declaration of Trust (the "**Declaration of Trust**") is on file with the Secretary of State of the Commonwealth of Massachusetts. Notice is hereby given that this instrument is executed on behalf of the Trust and not the Trustees individually and that the obligations of this
instrument are not binding upon any of the Trustees, officers, shareholders, nominees, agents or employees of a Fund personally but are binding only upon the assets and property of the applicable Fund. (Ultimus shall look only to the assets of the
applicable Fund for satisfaction of any claim by or in connection with the services rendered to a Fund under this Agreement, and it shall have no claim against the assets of any other Fund for the satisfaction of such obligations. This Agreement has
been signed and delivered on behalf of the Trust by an authorized officer of the Trust, and such execution and delivery by such officer shall not be deemed to have been made by such officer individually or to impose any liability on such officer,
the Trustees or the shareholders personally, but shall bind only the Fund as provided in the Declaration of Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* Ultimus shall not be held to have notice of any change of authority of any officer, agent,
representative or employee of the Trust or any Fund, the Trust's or any Fund's investment

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 7 of 18

------

adviser or any of the Trust's or Fund's other service providers until receipt of written notice thereof from the Trust or Fund (as applicable). As used in this Agreement, the term "**investment adviser**" includes all sub-advisers or persons performing similar services. <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E.* The Board has and retains primary responsibility for oversight of all compliance matters relating to
the Funds, including, but not limited to, compliance with the Investment Company Act, the Internal Revenue Code of 1986, as amended (the "**Internal Revenue Code** "), the USA PATRIOT Act of 2001, the Sarbanes Oxley Act of 2002 and the
policies and limitations of each Fund relating to the portfolio investments as set forth in the prospectus and statement of additional information. Ultimus' monitoring and other functions hereunder shall not relieve the Board of its primary day-to-day responsibility for overseeing such compliance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*F.* To the maximum extent permitted by law, the Trust agrees to limit Ultimus' liability for the
Trust's Losses (as defined below) to an amount that shall not exceed the total compensation received by Ultimus under this Agreement during the most recent rolling 12-month period or the actual time
period this Agreement has been in effect if less than 12 months. This limitation shall apply regardless of the cause of action or legal theory asserted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***G.*** **In no event shall Ultimus be liable for trading losses, lost revenues, special, incidental, punitive, indirect, consequential or exemplary damages or lost profits, whether or not such damages were foreseeable or Ultimus was advised of the possibility thereof. Ultimus shall not be liable for any corrupt, faulty or inaccurate data provided to Ultimus by any third-parties (including, without limitation, any investment adviser to the Funds) for use in delivering Ultimus' Services to the Trust or a Fund and Ultimus shall have no duty to independently verify and confirm the accuracy of third-party data. The parties acknowledge that the other parts of this Agreement are premised upon the limitation stated in this section.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.3.***  ***Indemnification*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*A.* Each party (the "**Indemnifying Party**") agrees to indemnify, defend, and
protect the other party, including its trustees, directors, managers, officers, employees, and other agents (collectively, the "**Indemnitees**" and each an "**Indemnitee** "), and shall hold the Indemnitees harmless
from and against any actions, suits, claims, losses, damages, liabilities, and reasonable costs, charges, and expenses (including attorney fees and investigation expenses), except any specified indirect or consequential damages (collectively,
" **Losses**") arising directly or indirectly out of (1) the Indemnifying Party's failure to exercise the standard of care set forth above unless such Losses were caused in part by the Indemnitees own willful misfeasance,
bad faith or gross negligence; (2) any violation of Applicable Law (defined below) by the Indemnifying Party or its affiliated persons or agents relating to this Agreement and the activities thereunder; and (3) any material breach by the
Indemnifying Party or its affiliated persons or agents of this Agreement.

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 8 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*B.* Notwithstanding the foregoing provisions, the Trust or Fund shall indemnify Ultimus for
Ultimus' Losses arising from circumstances under Section 10.2.A.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*C.* Upon the assertion of a claim for which either party may be required to indemnify the other, the
Indemnitee shall promptly notify the Indemnifying Party of such assertion, and shall keep the Indemnifying Party advised with respect to all developments concerning such claim. Notwithstanding the foregoing, the failure of the Indemnitee to timely
notify the Indemnifying Party shall not relieve the Indemnifying Party of its indemnification obligations hereunder except to the extent that the Indemnifying Party is materially prejudiced by such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*D.* The Indemnifying Party shall have the option to participate with the Indemnitee in the defense of
such claim or to defend against said claim in its own name or in the name of the Indemnitee. The Indemnitee shall in no case confess any claim or make any compromise in any case in which the Indemnifying Party may be required to indemnify the
Indemnitee except with the Indemnifying Party's prior written consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.4.*** The provisions of this Section 10 shall survive termination of this Agreement.

**11.** **Force Majeure.** 

Neither party will be liable for Losses, loss of data, delay of Services, or any other issues caused by events beyond its reasonable control, including, without limitation, delays by third party vendors and/or communications carriers, acts of civil or military authority, national emergencies, labor difficulties, fire, flood, catastrophe, acts of God, insurrection, war, riots, pandemics, failure of the mails, transportation, communication, or power supply.

**12.** **Representations and Warranties** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***12.1.***  ***Joint Representations.*** Each party represents and warrants, which representations and
warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* It is a corporation, partnership, trust, or other entity duly organized and validly existing in good
standing under the laws of the jurisdiction in which it is organized.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* To the extent required by Applicable Law (defined below), it is duly registered with all appropriate
regulatory agencies or self-regulatory organizations and such registration will remain in full force and effect for the duration of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* For the duties and responsibilities under this Agreement, it is currently and will continue to abide
by all applicable federal and state laws, including, without limitation, federal and state securities laws; regulations, rules, and interpretations of the SEC and its authorized regulatory agencies and organizations, including FINRA; and all other
self-regulatory organizations governing the transactions contemplated under this Agreement (collectively, "**Applicable Law** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* It has duly authorized the execution and delivery of this Agreement and the performance of the
transactions, duties, and responsibilities contemplated by this Agreement.

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 9 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(E)* This Agreement constitutes a legal obligation of the party, subject to bankruptcy, insolvency,
reorganization, moratorium, and other laws of general application affecting the rights and remedies of creditors and secured parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(F)* Whenever, in the course of performing its duties under this Agreement, it determines that a violation
of Applicable Law has occurred, or that, to its knowledge, a possible violation of Applicable Law may have occurred, or with the passage of time could occur, it shall promptly notify the other party of such violation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***12.2.***  ***Representations of the Trust.*** The Trust represents and warrants, which
representations and warranties shall be deemed to be continuing throughout the term of this Agreement, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* (1) as of the close of business on the Agreement Effective Date, each Fund that is then in existence has
authorized unlimited shares, and (2) no shares of any Fund will be offered to the public until the Trust's registration statement under the Securities Act of 1933, as amended (the "**Securities Act** "), and the Investment
Company Act, has been declared or becomes effective and all required state securities law filings have been made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* It shall cause the investment adviser(s) and sub-advisers, prime broker, custodian, legal counsel, independent accountants, and other service providers and agents, past or present, for each Fund to cooperate with Ultimus and to provide it with such information, data, documents, and advice relating to the
Fund as appropriate or requested by Ultimus, in order to enable Ultimus to perform its duties and obligations under this Agreement. To the extent the Trust, the Fund, the investment adviser(s) or any other service provider to the Fund is/are unable
to supply Ultimus with all of the information necessary for Ultimus to perform the Services, Ultimus will not be able to fully perform the Services and will not be responsible for such failure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* The Trust's Agreement and Declaration of Trust, Bylaws, registration statement and each
Fund's organizational documents, and prospectus are true and accurate and will remain true and accurate at all times during the term of this Agreement in conformance with applicable federal and state securities laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* Each of the employees of Ultimus that serves or has served at any time as an officer of the Trust,
including the CCO, President, Treasurer, Secretary and the AML Compliance Officer, shall be covered by the Trust's Directors & Officers/Errors & Omissions insurance policy (the "**Policy**") and shall be
subject to the provisions of the Trust's Declaration of Trust and Bylaws regarding indemnification of its officers. The Trust shall provide Ultimus with proof of current coverage, including a copy of the Policy, and shall notify Ultimus
immediately should the Policy be canceled or terminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(E)* Any officer of the Trust shall be considered an individual who is authorized to provide Ultimus with
instructions and requests on behalf of the Trust (an "**Authorized Person**") (unless such authority is limited in a writing from the Trust and received by Ultimus) and has the authority to appoint additional Authorized Persons, to
limit or revoke the authority

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 10 of 18

------

of any previously designated Authorized Person, and to certify to Ultimus the names of the Authorized Persons from time to time.

**13.** **Insurance** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.1.***  ***Maintenance of Insurance Coverage.*** Each party agrees to maintain throughout the
term of this Agreement professional liability insurance coverage of the type and amount reasonably customary in its industry. Upon request, a party shall furnish the other party with pertinent information concerning the professional liability
insurance coverage that it maintains. Such information shall include the identity of the insurance carrier(s), coverage levels, and deductible amounts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.2.***  ***Notice of Claims.*** As it relates to the Services provided to the Trust under this
Agreement, each party shall notify the other party of any material claims against the notifying party under such insurance, whether or not the party is covered by insurance, and, if requested by the non-notifying party shall aggregate and disclose all outstanding claims against the notifying party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***13.3.***  ***Notice of Termination.*** A party shall promptly notify the other party should any
of the notifying party's insurance coverage be canceled or reduced. Such notification shall include the date of change and the reasons therefore.

**14.** **Information Provided by the Trust** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.1.***  ***Prior to the Agreement Effective Date.*** Prior to the Agreement Effective Date, the Trust will
furnish to Ultimus the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* copies of the Declaration of Trust and of any amendments thereto, certified by the proper official of
the state in which such document has been filed;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* the Trust's Bylaws and any amendments thereto;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* certified copies of resolutions of the Board covering the approval of this Agreement, authorization
of a specified officer of the Trust to execute and deliver this Agreement and authorization for specified officers of the Trust to instruct Ultimus thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* a list of all the officers of the Trust, together with specimen signatures of those officers who are
authorized to instruct Ultimus in all matters;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(E)* the Trust's registration statement and all amendments thereto filed with the SEC pursuant to
the Securities Act and the Investment Company Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(F)* the Trust's notification of registration under the Investment Company Act on Form N-8A as filed with the SEC;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(G)* the Trust's current prospectus and statement of additional information for each Fund;

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 11 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(H)* an accurate, current list of shareholders of each existing series of the Trust, if applicable,
showing each shareholder's address of record, number of shares owned and whether such shares are represented by outstanding share certificates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(I)* copies of the current plan of distribution adopted by the Trust under Rule 12b-1 under the Investment Company Act for each Fund, if applicable;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(J)* copies of the current investment advisory agreement and current investment sub-advisory agreement(s), if applicable, for each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(K)* copies of the current underwriting agreement for each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(L)* contact information for each Fund's service providers, including, but not limited to, the
Fund's administrator, custodian, transfer agent, independent accountants, legal counsel, underwriter and chief compliance officer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(M)* a copy of procedures adopted by the Trust in accordance with Rule 38a-1 under the Investment Company Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***14.2.***  ***After the Agreement Effective Date.*** After the Agreement Effective Date, the Trust will furnish
to Ultimus any amendments to the items listed in Section 14.1.

**15.** **Compliance with Law** 

The Trust assumes full responsibility for the preparation, contents, and distribution of each prospectus of a Fund and further agrees to comply with all applicable requirements of the Federal Securities Laws and any other laws, rules and regulations of governmental authorities having jurisdiction over the Trust or a Fund, including, but not limited to, the Internal Revenue Code, the USA PATRIOT Act of 2001, and the Sarbanes-Oxley Act of 2002, each as amended.

**16.** **Privacy and Confidentiality** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.1.***  ***Definition of Confidential Information.*** The term "**Confidential Information** "
shall mean all information that either party discloses (a "**Disclosing Party**") to the other party (a "**Receiving Party** "), whether in writing, electronically, or orally and in any form (tangible or
intangible), that is confidential, proprietary, or relates to clients or shareholders (each either existing or potential). Confidential Information includes, but is not limited to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* any information concerning technology, such as systems, source code, databases, hardware, software,
programs, applications, engaging protocols, routines, models, displays, and manuals;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* any unpublished information concerning research activities and plans, customers, clients,
shareholders, strategies and plans, costs, operational techniques;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* any unpublished financial information, including information concerning revenues, profits and profit
margins, and costs or expenses; and

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 12 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* Customer Information (as defined below).

Confidential Information is deemed confidential and proprietary to the Disclosing Party regardless of whether such information was disclosed intentionally or unintentionally, or marked appropriately.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.2.***  ***Definition of Customer Information.*** Any Customer Information will remain the sole and
exclusive property of the Trust.  **** ** "**Customer Information**" shall mean all non-public, personally identifiable information as defined by Gramm-Leach-Bliley Act of 1999, as amended,
and its implementing regulations (*e.g.*, SEC Regulation S-P and Federal Reserve Board Regulation P) (collectively, the "**GLB Act** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.3.***  ***Treatment of Confidential Information*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* Each party agrees that at all times during and after the terms of this Agreement, it shall use,
handle, collect, maintain, and safeguard Confidential Information in accordance with (1) the confidentiality and non-disclosure requirements of this Agreement; (2) the GLB Act, as applicable and as
it may be amended; and (3) such other Applicable Law, whether in effect now or in the future.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* Without limiting the foregoing, the Receiving Party shall apply to any Confidential Information at
least the same degree of reasonable care used for its own confidential and proprietary information to avoid unauthorized disclosure or use of Confidential Information under this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* Each party further agrees that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Receiving Party will hold all Confidential Information it obtains in strictest confidence and will use
and permit use of Confidential Information solely for the purposes of this Agreement or as otherwise provided for in this Agreement, and consistent therewith, may disclose or provide access to its responsible employees or agents who have a need to
know and are under adequate confidentiality agreements or arrangements and make copies of Confidential Information to the extent reasonably necessary to carry out its obligations under this Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Notwithstanding the foregoing, the Receiving Party may release Confidential Information as permitted or
required by law or approved in writing by the Disclosing Party, which approval shall not be unreasonably withheld and may not be withheld where the Receiving Party may be exposed to civil or criminal liability or proceedings for failure to release
such information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) Additionally, Ultimus may provide Confidential Information, except Customer Information, typically supplied
in the investment company industry to companies that track or report price, performance or other information regarding investment companies; and

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 13 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) The Receiving Party may disclose or provide access only to its employees or agents who have a need to know
and are party to adequate confidentiality agreements or arrangements or otherwise have an obligation of confidentiality, and the Receiving Party or its employees may make copies of Confidential Information only to the extent reasonably necessary to
carry out the obligations under this Agreement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) The Receiving Party will immediately notify the Disclosing Party of any unauthorized disclosure or use, and
will cooperate with the Disclosing Party to protect all proprietary rights in any Confidential Information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.4.***  **<u>Privacy</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4.1. Each party hereto acknowledges and agrees that, subject to the reuse and re-disclosure provisions of Regulation S-P, 17 CFR Part 248.11, it shall implement procedures reasonably designed to limit disclosure of the non-public Personal Information of shareholders and former shareholders of the Trust provided pursuant to or obtained under this Agreement to disclosures appropriate to carrying out the activities contemplated by
this Agreement or as otherwise agreed in writing or permitted by law or regulation. Ultimus agrees to implement procedures reasonably designed to protect "personal information", as that term is defined in 201 CMR 17.00: Standards For The
Protection Of Personal Information Of Residents Of The Commonwealth ()"**Massachusetts Privacy Regulation** "), consistent with the Massachusetts Privacy Regulation and any applicable federal regulations. Ultimus will implement and
maintain a comprehensive information security program with written policies and procedures reasonably designed to: (i) protect the security and confidentiality of personal information; (ii) protect against any anticipated threats or
hazards to the security or integrity of personal information; (iii) protect against unauthorized access to or use of personal information that could result in substantial harm or inconvenience to individuals, and (iv) provide for
appropriate disposal of personal information.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4.2. Ultimus shall notify the Trust of any unauthorized access to or use of or loss or theft of unencrypted Personal
Information of shareholders or former shareholders of the Trust from Ultimus's computer systems, from persons or property under Ultimus's control, or due to any act or failure to act of Ultimus, which requires notification to affected
individuals under applicable law or regulatory guideline ()"**Security Event**") as soon as practicable after conducting a reasonable inquiry into the circumstances of the incident and determining in accordance with Ultimus's
data security procedures that a Security Event has occurred, and shall (i) promptly take commercially reasonable measures to prevent any further unauthorized access to or use of or loss or theft of unencrypted personal information on account of
the Security Event, (ii) take commercially reasonable measures to prevent a recurrence of the events or circumstances underlying the particular Security Event, and (iii) provide such information and cooperation as may be reasonably
requested by law enforcement agencies and regulatory agencies having jurisdiction over the Trust, and (iv) provide the Trust in writing with summary of the material features of the Security Event and actions taken pursuant to clause
(ii) above (subject to Ultimus's policies regarding disclosure of information regarding data security measures). Ultimus shall provide such assistance as the Trust may reasonably request to enable the Trust to prepare any customer
notifications required by applicable law or regulations due to the Security Event and shall provide the Trust in writing with a root cause report of the

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 14 of 18

------

Security Breach and a summary of the actions taken pursuant to clause (ii) above (subject to Ultimus's policies regarding disclosure of information regarding data security measures).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.4.3. "**Personal Information**" has the same meaning herein as in applicable U.S. federal law and
applicable state privacy laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***16.5.***  ***Severability.*** This provision and the obligations under this Section 16 shall survive
termination of this Agreement.

**17.** **Press Release** 

Within the first 60 days following the Agreement Effective Date, the Trust agrees to review in good faith a press release (in any format or medium) announcing the Agreement with Ultimus; provided that Ultimus must obtain the Trust's written consent prior to publication of such release, which consent shall not be unreasonably denied by the Trust.

**18.** **Non-Exclusivity** 

The services of Ultimus rendered to the Trust are not deemed to be exclusive. Except to the extent necessary to perform Ultimus' obligations under this Agreement, nothing herein shall be deemed to limit or restrict Ultimus' right, or the right of any of Ultimus' managers, officers or employees who also may be a trustee, officer or employee of the Trust, or persons who are otherwise affiliated persons of the Trust to engage in any other business or to devote time and attention to the management or other aspects of any other business, whether of a similar or dissimilar nature, or to render services of any kind to any other person.

**19.** **Arbitration** 

Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by final and binding arbitration before the American Arbitration Association in accordance with its Commercial Arbitration Rules and supplemental procedures for Securities Arbitration, and judgment on the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof.

This arbitration provision shall be enforced and interpreted exclusively in accordance with applicable federal law, including the Federal Arbitration Act. Any costs, fees, or taxes involved in enforcing the award shall be fully assessed against and paid by the party resisting enforcement of said award. The prevailing party shall also be entitled to an award of reasonable attorneys' fees and costs incurred in connection with the enforcement of this Agreement.

**20.** **Notices** 

Any notice provided under this Agreement shall be sufficiently given when either delivered personally by hand or received by electronic mail overnight delivery, or certified mail at the following address.

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 15 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.1.***  ***If to the Trust:*** 

Domini Investment Trust

Attn: Carole Laible, President

c/o Domini Impact Investments LLC

180 Maiden Lane, Suite 1302

New York, NY 10038-4925

Email: <u>claible@domini.com</u>

With a copy to:

Domini Impact Investments LLC

Attn: General Counsel

c/o Domini Impact Investments LLC

180 Maiden Lane, Suite 1302

New York, NY 10038-4925

Email: <u>mdunphy@domini.com</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***20.2.***  ***If to Ultimus:*** 

Ultimus Fund Solutions, LLC

Attn: General Counsel

225 Pictoria Drive, Suite 450

Cincinnati, Ohio 45246

E-mail: <u>legal@ultimusfundsolutions.com</u>

**21.** **General Provisions** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.1.***  ***Incorporation by Reference.*** This Agreement and its addendums, schedules, exhibits, and other
documents incorporated by reference express the entire understanding of the parties and supersede any other agreement between them relating to the Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.2.***  ***Conflicts.*** In the event of any conflict between this Agreement and any Appendices or Addendum
thereto, this Agreement shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.3.***  ***Amendments.*** The parties may only amend, modify, or waive all or part of this Agreement by
written amendment or waiver signed by both parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.4.***  ***Assignments.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(A)* Except as provided in this Section 21.4, this Agreement and the rights and duties hereunder
shall not be assignable by either of the parties except by the specific written consent of the non-assigning party.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(B)* The terms and provisions of this Agreement shall become automatically applicable to any investment
company that is the successor to the Trust because of reorganization, recapitalization, or change of domicile.

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 16 of 18

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(C)* Unless this Agreement is terminated in accordance with Section 8 of this Agreement, Ultimus may,
to the extent permitted by law and in its sole discretion, assign all its rights and interests in this Agreement to an affiliate, parent, subsidiary or to the purchaser of substantially all of its business, provided that Ultimus provides the Trust
at least 90 days' prior written notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(D)* This Agreement shall be binding upon, and shall inure to the benefit of, the parties and their
respective successors and permitted assigns.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.5.***  ***Governing Law.* ** This Agreement shall be construed in accordance with the laws of
the state of New York and the applicable provisions of the Investment Company Act. To the extent that the applicable laws of the state of New York, or any of the provisions herein, conflict with the applicable provisions of the Investment Company
Act, the latter shall control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.6.***  ***Headings.*** **  Section and paragraph headings in this Agreement are included for convenience
only and are not to be used to construe or interpret this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.7.***  ***Multiple Counterparts .*** This Agreement may be executed in two or more
counterparts, each of which when executed shall be deemed to be an original, but such counterparts shall together constitute but one and the same instrument. A signed copy of this Agreement delivered by email or other means of electronic
transmission will be deemed to have the same legal effect as delivery of an original, signed copy of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***21.8.***  ***Severability.*** If any part, term or provision of this Agreement is held to be illegal,
in conflict with any law or otherwise invalid, the remaining portion or portions shall be considered severable and not be affected by such determination, and the rights and obligations of the parties shall be construed and enforced as if the
Agreement did not contain the particular part, term or provisions held to be illegal or invalid.

***Signatures are located on the next page.***

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 17 of 18

------

The parties duly executed this Agreement as of June 1, 2025.

---

| | | | |
|:---|:---|:---|:---|
|  | **Domini Investment Trust** |  | **Ultimus Fund Solutions, LLC** |
|  | /s/ Carole M. Laible |  | /s/ Gary Tenkman |
| By: |  | By: |  |
| Name: | Carole M. Laible | Name: | Gary Tenkman |
| Title: | President | Title: | Chief Executive Officer |

---

Domini Investment Trust Ultimus Master Services Agreement June 1, 2025 Page 18 of 18

------

**SCHEDULE A** 

**to the** 

**Master Services Agreement** 

**between** 

**Domini Investment Trust** 

**and** 

**Ultimus Fund Solutions, LLC** 

**dated June 1, 2025** 

**<u>Fund Portfolio(s)</u>**

**Domini Impact Equity Fund** 

**Domini Sustainable Solutions Fund** 

**Domini Impact International Equity Fund** 

**Domini Impact Bond Fund** 

------

**<u>Transfer Agent and Shareholder Services Addendum</u>**

**for** 

**Domini Investment Trust** 

This Transfer Agent and Shareholder Services Addendum, dated June 1, 2025, is between **Domini Investment Trust** (the "**Trust**"), on its own behalf and on behalf of the Funds listed on Schedule A to that certain Master Services Agreement, dated June 1, 2025, and **Ultimus Fund Solutions, LLC** ("**Ultimus**")**.** Capitalized terms used but not defined herein shall have the meanings set forth in the Master Services Agreement.

**<u>Transfer Agent and Shareholder Services</u>**

**1.** **Shareholder Transactions** 

Ultimus shall provide the Trust with shareholder transaction services, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.1.*** process shareholder purchase, redemption, exchange, and transfer orders in accordance with
conditions set forth in the applicable Fund's prospectus(es) applying all applicable redemption or other miscellaneous fees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.2.*** set up of account information, including address, account designations, dividend and capital
gains options, taxpayer identification numbers, banking instructions, automatic investment plans, systematic withdrawal plans and cost basis disposition method,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.3.*** assist shareholders making changes to their account information included in 1.2;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.4.*** issue trade confirmations in compliance with Rule 10b-10 under the Securities Exchange Act of 1934, as amended (the "**1934 Act** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.5.*** issue quarterly statements for shareholders, interested parties, broker firms, branch offices
and registered representatives;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.6.*** act as a service agent and process income dividend and capital gains distributions, including
the purchase of new shares, through dividend reimbursement and appropriate application of backup withholding, non-resident alien withholding and Foreign Account Tax Compliance Act ()"**FATCA** ")
withholding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.7.*** record the issuance of shares and maintain pursuant to Rule 17Ad-10(e) of the 1934 Act a record of the total number of shares of each Fund which are authorized, based upon data provided to it by the Trust, and issued and outstanding;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.8.*** perform such services as are required to comply with Rules 17a-24 and 17Ad-17 of the 1934 Act (the "**Lost Shareholder Rules** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.9.*** provide cost basis reporting to shareholders on covered shares (shares purchased after
1/1/2012), as required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.10.*** withholding taxes on non-resident alien accounts,
pension accounts and in accordance with state requirements;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.11.*** produce, print, mail and file U.S. Treasury Department Forms 1099 and other appropriate forms
required by federal authorities with respect to distributions for shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.12.*** administer and perform all other customary services of a transfer agent, including, but not
limited to, answering routine customer inquiries regarding shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.13.*** process all standing instruction orders (Automatic Investment Plans
(" **AIPs**") and Systematic Withdrawal Plan ()"**SWPs** ")) including the debit of shareholder bank information for automatic purchases;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.14.*** provide a shareholder portal permitting online account opening and funding that subjects each
online purchase, exchange or AIP that is funded by an ACH transactions to a bank account owner verification service approved by the Trust;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.15.*** as appropriate, cancel share certificates when requested in writing by a shareholder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.16.*** notify on a timely basis the Funds' investment adviser, accounting agent, and custodian
of Share activity and transmit to the blue sky service provider the aggregate transactional data needed to perform state notice filing services; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***1.17.*** as reasonably requested by the Fund, provide periodic shareholder lists and statistics to the
Trust and certify shareholder lists.

**2.** **Shareholder Information Services** 

Ultimus shall provide the Trust with shareholder information services, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.1.*** make information available to shareholder servicing unit and other remote access units
regarding trade date, share price, current holdings, yields, and dividend information;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.2.*** produce detailed history of transactions through duplicate or special order statements upon
request;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.3.*** provide mailing labels for distribution of financial reports, prospectuses, proxy statements
or marketing material to current shareholders;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.4.*** provide a 24-hour voice-response system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.5.*** answer the Trust's toll free incoming phone line as applicable; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***2.6.*** respond as appropriate to all written inquiries and communications from shareholders relating
to shareholder accounts.

**3.** **Compliance Reporting** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.1.***  ***AML Reporting.*** Ultimus agrees to provide anti-money laundering services to the Trust's
direct shareholders domiciled in the United States and to operate the Trust's customer identification program ()"**CIP**") for these shareholders, in each case in accordance with the written procedures developed by Ultimus and
adopted or approved by the Trust's Board of Trustees (the "**Board** "), the applicable regulations promulgated by U.S. Department of Treasury under Section 326 of the USA PATRIOT Act ()"**CIP Regulations** "),
and with applicable law and regulations.

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 2 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1. To assist the Trust with its CIP designed to ensure the identity of any person opening a new account with a
Fund, Ultimus will assist the Fund(s) as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.1. Implement procedures that require that prior to establishing a new account in the Trust, Ultimus obtain the
name, date of birth (for natural persons only), address and government-issued identification number (collectively, the "**Data Elements**") for the "**Customer**" (defined for purposes of this Agreement as provided in
31 CFR 1024.100(c)) associated with the new account;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.2. Use collected Data Elements to attempt to reasonably verify the identity of each new Customer promptly before
or after each corresponding new account is opened. Methods of verification may consist of non-documentary methods (for which Ultimus may use unaffiliated information vendors to assist with such verifications)
and documentary methods (as permitted by 31 CFR 1024.220), and may include procedures under which Ultimus personnel perform enhanced due diligence to verify the identities of Customers the identities of whom were not successfully verified through
the first-level (which will typically be reliance on results obtained from an information vendor) verification process(es).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.3. Record the Data Elements and maintain records relating to verification of new Customers consistent with 31 CFR
1024.220(a)(3).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.4. Regularly report to the Trust about measures taken under 4.1.1.1 – 4.1.1.3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.5. If Ultimus provides services by which prospective Customers may subscribe for shares in the Trust via the
Internet or telephone, Ultimus will work with the Trust to notify prospective Customers, consistent with 31 CFR 1024.220(a)(5), about the program conducted by the Trust in accordance with the CIP Regulations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.6. Certify to the Trust in writing no less frequently than annually that Ultimus has implemented an anti-money
laundering program and that it (or its agent) will during the term of this Agreement assist the Trust in complying with the CIP Regulations by performing the functions set forth in Section 4.1..

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.1.1.7. Provide a written report in a format to be agreed upon by the parties no less frequently than quarterly that
reflects a summary of results for government list matching, suspicious activity referrals, foreign correspondent accounts, primary money laundering concerns, FinCen 314(a) Information Requests, CIP records, beneficial owner records, CIP failures, as
well as anti-money laundering cases referred to the Trust during the reporting period, as applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2. To assist the Trust in complying with the *Customer Due Diligence Requirements for Financial Institutions* promulgated by the Financial Crimes Enforcement Network of the U.S. Department of the Treasury ()"**FinCEN** ")(31 CFR § 1020.230)

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 3 of 7

------

pursuant to the Bank Secrecy Act ("**CDD Rule**"), Ultimus will maintain and implement written procedures that are reasonably designed to: <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2.1. Obtain information of a nature and in a manner permitted or required by the CDD Rule in order to identify each
natural person who is a "beneficial owner" (as that term is defined in the CDD Rule) of a legal entity at the time that such legal entity seeks to open an account as a shareholder of the Fund, unless that legal entity is excluded from
the CDD Rule or an exemption provided for in the CDD Rule applies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2.2. Verify the identity of each beneficial owner so identified according to risk-based procedures to the extent
reasonable and practicable, in accordance with the minimum requirements of the CDD Rule.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.1.2.3. Nothing in Section 4.1 shall be construed to require Ultimus to perform any course of conduct that is not
required for Trust compliance with the CIP Regulations or CDD Rule, including by way of illustration and not limitation, the collection of Data Elements or verification of identity for individuals opening Fund accounts through financial
intermediaries that use the facilities of the NSCC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.2.***  ***<u>FinCEN Requests Under USA PATRIOT Act Section</u> <u>314(a)</u>.*** Ultimus will provide the services set forth in this Section 4.2 with respect to FinCEN Section 314(a) information requests ()"**Information Requests**") received by the Trust. Upon receipt by Ultimus of an Information Request delivered by the Trust in full compliance with all 314(a) Procedures (as defined below), Ultimus will compare information contained in the Information
Request against relevant information contained in account records maintained for the Trust. After reviewing for quality assurance purposes, Ultimus will make information relating to potential matches resulting from these comparisons
(" **Comparison Results**") available to the Trust in a timely manner. In addition, Ultimus will analyze any potential match in conjunction with other relevant activity contained in records for the particular relevant account, and if,
after such analysis, Ultimus determines that further investigation is warranted because the activity might constitute "suspicious activity", as that term is used for purposes of the USA PATRIOT Act, then Ultimus will deliver a suspicious
activity referral to the Trust. Ultimus shall have no responsibility for filing any necessary reports with FinCEN based on the Comparison Results or a referral. Such responsibility, as between the Trust and Ultimus, remains the Trust's
exclusive obligation." **314(a) Procedures**" means the procedures adopted from time to time by Ultimus governing the delivery and processing of Information Requests transmitted by Ultimus's clients to Ultimus, including without
limitation, requirements governing the timeliness, content, completeness, format and mode of transmissions to Ultimus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.3.***  ***<u>U.S. Government List Matching Services</u>.*** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1. On a schedule to be agreed upon between the parties, Ultimus will compare (A) Appropriate List Matching
Data contained in Ultimus databases which are maintained for the Fund pursuant to this Agreement ()"**Fund List Data**") with (B) "**U.S. Government Lists** ", which is hereby defined to mean the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1.1. data promulgated in connection with the list of Specially Designated Nationals published by the Office of
Foreign Asset Control of the U.S. Department of the Treasury ()"**OFAC**") and any other sanctions lists or programs administered by OFAC to the extent such lists or programs remain operative and applicable to the Fund ()"**OFAC Lists** ");

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 4 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1.2. data promulgated in connection with the published Financial Action Task Force lists ()"**FATF Lists** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1.3. data promulgated in connection with determinations by the director (the "**Director**") of
FinCEN that a foreign jurisdiction, institution, class of transactions, type of account or other matter is a primary money laundering concern ()"**PMLC Determination** "); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.1.4. data promulgated in connection with any other lists, programs or determinations (A) which Ultimus
determines to be substantially similar in purpose to any of the foregoing lists, programs or determinations, or (B) which Ultimus and the Fund agree in writing to add to the service described in this Section 4.3.1.4.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2. In the event that following a comparison of Fund List Data to a U.S. Government List as described in
Section 4.3.1, Ultimus determines that any Fund List Data constitutes a "match" with the U.S. Government List in accordance with the criteria applicable to the particular U.S. Government List, Ultimus:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2.1. will notify the Fund of such match;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2.2. will send any other notifications required by applicable law or regulation by virtue of the match;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2.3. if a match to an OFAC List, will, to the extent required by applicable law or regulation, assist the Fund in
taking appropriate steps to block any transactions or attempted transactions to the extent such action may be required by applicable law or regulation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2.4. if a match to the FATF Lists or a PMLC Determination, will, to the extent required by applicable law or
regulation, conduct a suspicious activity review of accounts related to the match and, if suspicious activity is detected, will deliver a suspicious activity referral to the Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2.5. if a match to a PMLC Determination, will assist the Fund in taking the appropriate special measures imposed by
the Director; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.2.6. will assist the Fund in taking any other appropriate actions required by applicable law or regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.3. "**Appropriate List Matching Data**" means (i) account registration and alternate payee
data, to the extent made appropriate by statutes, rules or regulations governing the U.S. Government Lists, (ii) data determined by Ultimus in light of statutes, rules or regulations governing the U.S. Government Lists to be necessary to
provide the services described in this Section 4.3, and (iii) data the parties agree in writing to be necessary to provide the services described in this Section 4.3

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 5 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3.4. Ultimus may fulfill its obligations under this Section 4.3 by utilizing commercially available lists that
contain the data promulgated as the U.S. Government Lists, whether such lists consist of data exclusive to one U.S. Government List or of data representing a combination of several watch lists, including several U.S. Government Lists.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.4.***  ***<u>SAR Referral</u>.*** Ultimus will review potential suspicious
activity and other pertinent account records to determine whether such information reasonably indicates "suspicious activity" has occurred, and if it determines suspicious activity has occurred, deliver a suspicious activity referral to
the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.5.***  ***<u>Suspicious Activity Monitoring</u>*** . Ultimus will maintain and implement
procedures reasonably designed to assist the Trust in complying with rules promulgated by FinCEN under the Bank Secrecy Act (31. C.F.R § 1024.320) with respect to the monitoring for suspicious activity that may occur in connection with the
Trust and its shareholders during Ultimus's performance of transaction processing and recordkeeping services hereunder and, if, in the course of such monitoring it determines that any of such activities could indicate the existence of
suspicious activity and that an investigation of the potential suspicious activity is warranted, then Ultimus will deliver a suspicious activity referral to the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.6.***  ***<u>Red Flags Services</u>*** *.* The provisions of this Section 4.6 (the
" **Red Flags Section**") shall apply in connection with the provision of Ultimus's "**Red Flags Services** ", which are hereby defined to mean the following services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1. Ultimus will maintain written controls reasonably designed to detect the occurrence of Red Flags (as defined
below) in connection with (i) account opening and other account activities and transactions conducted directly through Ultimus with respect to Direct Accounts, and (ii) transactions effected directly through Ultimus by Covered Persons in
Covered Accounts. Such controls, as they may be revised from time to time hereunder, are referred to herein as the "**Controls** ". Solely for purposes of the Red Flags Section, the capitalized terms below will have the respective
meaning ascribed to each:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.1. "**Red Flag**" means a pattern, practice, or specific activity or a combination of patterns,
practices or specific activities which may indicate the possible existence of Identity Theft affecting a Registered Owner or a Covered Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.2. "**Identity Theft**" means a fraud committed or attempted using the identifying information of
another person without authority.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.3. "**Registered Owner**" means the owner of record of a Direct Account on the books and records of
the Trust maintained by Ultimus as registrar of the Trust (the "**Trust Registry** ").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.4. "**Covered Person**" means the owner of record of a Covered Account on the Trust Registry.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.5. "**Direct Account**" means an Account established directly with and through Ultimus as a
registered account on the Trust Registry and through which the owner of record has the ability to directly conduct account and transactional activity with and through Ultimus.

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 6 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.6. "**Covered Account**" means an Account established by a financial intermediary for another as
the owner of record on the Trust Registry and through which such owner of record has the ability to conduct transactions in Trust shares directly with and through Ultimus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.1.7. "**Account**" means (1) an account holding Trust Shares with respect to which a natural
person is the owner of record, and (2) any other account holding Trust Shares with respect to which there is a reasonably foreseeable risk to the particular account owner's customers from identity theft, including financial, operational,
compliance, reputation, or litigation risks.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.2. Ultimus will provide the Trust with a printed copy of or access to the Controls.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.3. Ultimus will notify the Trust of Red Flags which it detects and reasonably determines to indicate a significant
risk of Identity Theft to a Registered Owner or Covered Person ()"**Possible Identity Theft**") and assist the Trust in determining the appropriate response of the Trust to the Possible Identity Theft.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.4. Ultimus will (A) annually engage an independent auditing firm or other similar firm of independent
examiners to conduct an examination of Ultimus's management's assertion pertaining to the Controls and issue a report on the results of the examination (the "**Examination Report** "), and (B) furnish a copy of the
Examination Report to the Trust; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6.5. Upon the Trust's reasonable request on not more than a quarterly basis, issue a certification in a form
determined to be appropriate by Ultimus in its reasonable discretion, certifying to Ultimus's continuing compliance with the Controls after the date of the most recent Examination Report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.7.***  ***<u>Rule 38a-1 Compliance</u>*** . Ultimus has
adopted and implemented written policies and procedures reasonably designed to prevent violations by Ultimus of the Federal Securities Laws (as defined in Rule 38a-1) applicable to Ultimus as transfer agent
for the Trust, including policies and procedures relating to Ultimus's AML services ()"**38a-1 Policies** "). It will periodically review the adequacy of the 38a-1 Policies and the effectiveness of their implementation and will report to the Trust any material changes made to the 38a-1 Policies since the date of the last
report. Ultimus will provide the Trust with a report of each matter that it reasonably determines should be considered by the chief compliance officer of the Trust in preparing the report to the Board required by Rule 38a-1. Upon the request of the Trust made upon reasonable notice and not more than once annually, Ultimus will provide the Trust with an opportunity to review with appropriate Ultimus personnel the adequacy of
the 38a-1 Policies and the effectiveness of their implementation. Ultimus shall provide the Trust each quarter with a certification relating to the 38a-1 Policies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.8.***  ***<u>Sarbanes-Oxley</u>*** . Ultimus shall, upon request, provide the Trust not less
than annually with a SOC1 Type II report prepared by independent accountants on the system utilized by Ultimus to provide transfer agency processing and record keeping services ()"**Ultimus SOC1** "). Ultimus shall provide the Trust
each quarter with a certification relating to the controls described in the most recently issued Ultimus SOC1. Ultimus shall provide the Trust at least semi-annually with a certification relating to the Trust's N-CSR filing in a format to be agreed upon by the parties.

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 7 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.9.***  ***Regulatory Reporting.*** Ultimus agrees to provide reports to the federal and applicable state
authorities, including the SEC, and to the Funds' auditors. Applicable state authorities are those governmental agencies located in states in which the Fund is registered to sell shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.10.***  ***IRS Reporting.*** Ultimus will prepare and distribute appropriate Internal Revenue Service
(" **IRS**") forms for shareholder income and capital gains (including the calculation of qualified income), sale of fund shares, distributions from retirement accounts and education savings accounts, fair market value reporting on
IRAs, contributions, rollovers and conversions to IRAs and education savings accounts and required minimum distribution notifications and issue tax withholding reports to the IRS.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.11.***  ***Market Timing Reports.*** Ultimus will provide quarterly market timing reports for each Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.12.***  ***Pay-to-Play Reports.*** Ultimus will provide quarterly reporting for Fund accounts subject to pay-to-play rules.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***3.13.***  ***Gain/Loss Policy*** . Ultimus will comply with its gain/loss policy described in its policies and
procedures as provided to the Trust.

**4.** **Dealer/Load Processing** 

For each Fund with a share class that charges a sales load (either front-end or back-end), Ultimus will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.1.*** provide reports for tracking rights of accumulation and purchases made under a letter of intent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.2.*** account for separation of shareholder investments from transaction sale charges for purchase of
Fund shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.3.*** calculate fees due under Rule 12b-1 plans for
distribution and marketing expenses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.4.*** track sales and commission statistics by dealer and provide for payment of commissions on direct
shareholder purchases; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***4.5.*** applying appropriate Front End Sales Load ()"**FESL**") breakpoint and Contingent
Deferred Sales Charges ()"**CDSCs**") automatically during trade processing.

**5.** **Shareholder Account Maintenance** 

For each direct shareholder account, Ultimus agrees to perform the following services:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.1.*** maintain all shareholder records for each account in each Fund;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.2.*** as dividend disbursing agent, on or before the payment date of any dividend or distribution,
notify the Fund's custodian of the estimated amount of cash required to pay such dividend or distribution; prepare and distribute to shareholders any funds to which they are entitled by reason of any dividend or distribution and in the case of
shareholders entitled to receive additional shares of the Fund by reason of any such dividend or distribution, make appropriate credit to their respective accounts and prepare and mail to such shareholders a confirmation statement with respect to
such shares;

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 8 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.3.*** issue customer statements on a scheduled cycle, and provide duplicate second and third-party
copies if required;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.4.*** record shareholder account information changes; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***5.5.*** maintain account documentation files for each shareholder.

**6.** **Fund Account Maintenance; Cash Deposits** 

To accommodate any cash balances maintained by the Funds, Ultimus will open and maintain one or more non-custodial, operating bank accounts in Ultimus' name for the benefit of the Funds, and any interest income earned thereon shall be retained by Ultimus as a separate fee for its account maintenance services.

**7.** **uTRANSACT Web Services** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***7.1.*** Provide and maintain an internet portal for shareholders and registered investment advisers to
access and perform various online capabilities on their investment accounts with the Funds.

**8.** **PLAID** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***8.1.*** Provide online bank account verification services using third-party PLAID technology.

**9.** **Other Services** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.1.*** Ultimus shall perform other services for the Trust that are mutually agreed upon in a writing
signed by the parties for mutually agreed fees, if any, and all reimbursable expenses incurred by Ultimus; provided, however that the Trust may retain third parties to perform such other services. These services may include performing internal audit
examination; mailing the annual reports of the Funds; preparing an annual list of shareholders; and mailing notices of shareholders' meetings, proxies, and proxy statements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***9.2.*** Ultimus shall prepare such reports, notice filing forms and other documents (including reports
regarding the sale and redemption of shares of the Trust as may be required in order to comply with federal and state securities law) as may be necessary or desirable to make notice filings relating to the Trust's shares with state securities
authorities, monitor the sale of Trust shares for compliance with state securities laws, and file with the appropriate state securities authorities compliance filings as may be necessary or convenient to enable the Trust to make a continuous
offering of its shares.

**10.** **National Securities Clearing Corporation Processing** 

Ultimus will:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.1.*** process accounts through Networking and the purchase, redemption, transfer and exchange of
shares in such accounts through Fund/SERV (Networking and Fund/SERV being programs operated by the National Securities Clearing Corporation (the "**NSCC**") on behalf of NSCC's participants, including the Trust), in accordance
with, instructions transmitted to and received by Ultimus by transmission from NSCC on behalf of broker-dealers and banks which have been established by, or in accordance with the instructions of authorized persons, as hereinafter defined on the
dealer file maintained by Ultimus;

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 9 of 7

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.2.*** make representatives available to respond to broker-dealer questions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.3.*** issue instructions to each Fund's custodian for the settlement of transactions between
the Fund and NSCC (acting on behalf of its broker-dealer and bank participants);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.4.*** provide account and transaction information from the affected Trust's records on an
appropriate computer system in accordance with NSCC's Networking and Fund/SERV rules for those broker-dealers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.5.*** maintain shareholder accounts through Networking; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***10.6.*** complete prospectus and fund data entry for NSCC Mutual Fund Profile Service II
("Profile II"). Ultimus will maintain existing data and will add and maintain new data when required. The Trust will hold Ultimus free and harmless from any losses resulting from incorrect data within Profile II. Ultimus will provide the
Trust access to myDTCC, where the Profile II data is maintained, and will provide the Trust the ability to review and approve the data that is entered by Ultimus.

**11.** **Tax Matters** 

Ultimus does not provide tax advice. Nothing in the Master Services Agreement or this Transfer Agent and Shareholder Services Addendum shall be construed or have the effect of rendering tax advice. It is important that the Trust or a Fund consult a professional tax advisor regarding its individual tax situation.

***Signatures are located on the next page.***

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 10 of 7

------

The parties duly executed this Transfer Agent and Shareholder Services Addendum as of June 1, 2025.

---

| | | | |
|:---|:---|:---|:---|
|  | **Domini Investment Trust**<br> on its own behalf and on behalf of the Funds |  | **Ultimus Fund Solutions, LLC** |
|  | /s/Carole M. Laible |  | /s/Gary Tenkman |
| By: |  | By: |  |
| Name: | Carole M. Laible | Name: | Gary Tenkman |
| Title: | President | Title: | Chief Executive Officer |

---

Domini Investment Trust Transfer Agent and Shareholder Services Fee Letter Page 11 of 7

## Ex-99.(H)(40)

Exhibit h40

**AMENDMENT TO ADMINISTRATION AGREEMENT** 

**THIS AMENDMENT TO THE ADMINISTRATION AGREEMENT** (the "Amendment") is dated as of April 17, 2025, and effective as of January 1, 2025, by and between Domini Investment Trust (the "***Trust***") and State Street Bank and Trust Company, a Massachusetts trust company (the "***Administrator***").

**WITNESSETH:** 

**WHEREAS**, the Trust and the Administrator are parties to that certain Administration Agreement dated as of January 17, 2020, and effective as of April 1, 2019, as amended, modified or supplemented from time to time (the "***Agreement***"); and

**WHEREAS**, the Trust and the Administrator desire to amend and supplement the Agreement upon the following terms and conditions.

**NOW THEREFORE**, for and in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Trust and the Administrator hereby agree as follows:

1. Section 8 shall be amended in its entirety to read:

**Limitation of Liability and Indemnification**. The Administrator shall be responsible for the performance only of such duties as are set forth in this Agreement and, except as otherwise provided under Section 14, shall have no responsibility for the actions or activities of any other party, including other service providers. The Administrator shall have no liability in respect of any loss, damage or expense suffered by the Trust insofar as such loss, damage or expense arises from the performance of the Administrator's duties hereunder in reliance upon records that were maintained for the Trust by entities other than the Administrator prior to the Administrator's appointment as administrator for the Trust. The Administrator shall have no liability for any error of judgment or mistake of law or for any loss or damage resulting from the performance or nonperformance of its duties hereunder unless solely caused by or resulting from the negligence or willful misconduct of the Administrator, its officers or employees. The Administrator shall not be liable for any special, indirect, incidental, punitive or consequential damages, including lost profits, of any kind whatsoever (including, without limitation, attorneys' fees) under any provision of this Agreement or for any such damages arising out of any act or failure to act hereunder, each of which is hereby excluded by agreement of the parties regardless of whether such damages were foreseeable or whether either party or any entity had been advised of the possibility of such damages. In any event, the Administrator's cumulative liability for each calendar year (a "Liability Period") with respect to the Trust under this Agreement regardless of the form of action or legal theory shall be limited to its total annual compensation earned and fees payable hereunder during the preceding Compensation Period, as defined herein, for any liability or loss suffered by the Trust including, but not limited to, any liability relating to qualification of the Trust as a regulated investment company or any liability relating to the Trust's compliance with any federal or state tax or securities statute, regulation or ruling during such Liability Period. "Compensation Period" shall mean the calendar year ending immediately prior to each Liability Period in which the event(s) giving rise to the Administrator's liability for

------

Exhibit h40

that period have occurred.

The Administrator shall not be responsible or liable for any failure or delay in performance of its obligations under this Agreement arising out of or caused, directly or indirectly, by circumstances beyond its control, including without limitation, work stoppage, power or other mechanical failure, computer virus, natural disaster, governmental action or communication disruption.

The Trust shall indemnify and hold the Administrator and its directors, officers, employees and agents harmless from all loss, cost, damage and expense, including reasonable fees and expenses for counsel, incurred by the Administrator resulting from any claim, demand, action or suit in connection with the Administrator's acceptance of this Agreement, any action or omission by it in the performance of its duties hereunder, or as a result of acting upon any instructions reasonably believed by it to have been duly authorized by the Trust or upon reasonable reliance on information or records given or made by the Trust or its investment adviser, provided that this indemnification shall not apply to actions or omissions of the Administrator, its officers or employees in cases of its or their own negligence or willful misconduct.

The limitation of liability and indemnification contained herein shall survive the termination of this Agreement.

2. The following is hereby added to the end of Section 9 <u>Confidentiality</u>:

"Each party may store confidential information with third-party providers of information technology services, and permit access to confidential information by such providers as reasonably necessary for the receipt of cloud computing and storage services and related hardware and software maintenance and support. Such confidential information must be disclosed under obligations of confidentiality pursuant to this Section 9."

3. The first sentence of Section 13 <u>Term</u> is hereby amended to read:

"This Agreement shall remain in full force and effect for an initial term ending January 1, 2029 (the "***Initial Term***")."

4. <u>Schedule A</u> shall be replaced in its entirety by the <u>Schedule A</u> attached hereto and
incorporated herein by this reference.

5. General Provisions. This Amendment will at all times and in all respects be construed, interpreted, and
governed by the laws of The Commonwealth of Massachusetts, without giving effect to the conflict of laws provisions thereof. This Amendment may be executed in any number of counterparts, each constituting an original and all considered one and the
same agreement. This Amendment is intended to modify and amend the Agreement and the terms of this Amendment and the Agreement are to be construed to be cumulative and not exclusive of each other. Except as provided herein, the Agreement is hereby
ratified and confirmed and remains in full force and effect.

*[Signature Page Follows]* 

------

Exhibit h40

**IN WITNESS WHEREOF**, the parties have caused this Amendment to be executed by their duly authorized officers to be effective as of the date first above written.

---

| | |
|:---|:---|
| **STATE STREET BANK AND TRUST COMPANY** | **STATE STREET BANK AND TRUST COMPANY** |
| By: | /s/ Suzanne M. Hinckley |
| Name: | <u>Suzanne M. Hinckley</u> |
| Title: | <u>Senior Vice President</u> |

---

---

| | |
|:---|:---|
| **DOMINI INVESTMENT TRUST** | **DOMINI INVESTMENT TRUST** |
| By: | /s/ CM Laible |
| Name: | <u>Carole M. Laible</u> |
| Title: | <u>President</u> |

---

------

Exhibit h40

**<u>SCHEDULE A</u>**

**TO** 

**ADMINISTRATION AGREEMENT** 

**<u>LIST OF FUNDS</u>**

**<u>Domini Investment Trust:</u>**

Domini Impact Equity Fund

Domini Impact Bond Fund

Domini Impact International Equity Fund

Domini Sustainable Solutions Fund

This Appendix A reflects the removal of Domini International Opportunities Fund from the Agreement as of March 21, 2025.

## Ex-99.(J)

Exhibit j

---

| | |
|:---|:---|
| ![LOGO](g806602dsp1.jpg) |  |
|  | KPMG LLP<br> Two Financial Center<br> 60 South Street<br> Boston, MA 02111 |

---

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We consent to the use of our reports dated September 24, 2025, with respect to the financial statements of Domini Impact Equity Fund, Domini Sustainable Solutions Fund, Domini Impact International Equity Fund, and Domini Impact Bond Fund (collectively the "Funds"), each a series of Domini Investment Trust, as of July 31, 2025, incorporated herein by reference and to the references to our firm under the headings "Financial Highlights" in the Prospectus and "Independent Registered Public Accounting Firm" in the Statement of Additional Information.

/s/ KPMG LLP

Boston, Massachusetts

November 21, 2025

## Ex-99.(P)(5)

![LOGO](g806602dsp045.jpg)

## Code of Ethics

## Effective March 31, 2025
Information Classification: General 1

------

**Table of Contents** 

---

| | |
|:---|:---|
|  Overview | 3 |
|  Covered Person Classifications | 4 |
|  Code of Ethics Rule Summary | 5 |
|  Statement of General Fiduciary Principles | 6 |
|  Related Policies and Procedures | 6 |
|  General Requirements | 7 |
|  Personal Trading Requirements – Accounts and Holdings | 8 |
|  Reportable Accounts Guide | 10 |
|  Personal Trading Requirements – Transactions | 12 |
|  Exempted Transactions | 15 |
|  Pre-Clearance | 16 |
|  Personal Trading Requirements – Pre-Clearance | 16 |
|  Administration and Enforcement of the Code of Ethics | 20 |

---

**Appendices** 

---

| | |
|:---|:---|
|  Appendix A – Terms and Definitions | 21 |
|  Appendix B – Beneficial Ownership of Accounts and Securities | 23 |
|  Appendix C – Guide: Requirements by Security Types | 25 |
|  Appendix D – Country Specific Requirements | 27 |
|  Appendix E – Contacts | 28 |
|  Appendix F – Code of Ethics Reporting Requirements | 29 |
|  Appendix G – Code of Ethics FAQs | 30 |

---

Information Classification: General 2

------

**The Purpose of this Code of Ethics** 

State Street Global Advisors+ (the "Firm") will not tolerate misuse of information made available to us for the purpose of making investment decisions or providing advice to our clients. To do so would be a breach of trust that our clients place in us and may also breach securities laws.

**What is the Code of Ethics?** 

The State Street Global Advisors Code of

Ethics (the "Code") is designed to promote compliance with regulations that apply to our business and to ensure Firm personnel meet expected standards of conduct. The Code is supplemental to the State Street Standard of Conduct, and Firm personnel are required to comply with both.

In certain countries outside the US, local laws, regulations or customs may impose additional requirements. **Personnel located in countries outside the US must also refer to Appendix D for information on those additional requirements.**

The Conduct Risk Management Office administers this Code in coordination with State Street Global Advisors' Chief Compliance Officer ("CCO"). 

&nbsp;&nbsp;&nbsp;&nbsp; <br> **Questions about the Code?**<br>Contact the Conduct Risk<br> Management Office**:**<br> **<u>ethics@statestreet.com</u>**<br>

&nbsp;&nbsp;&nbsp;&nbsp; <br> **Definitions for some of the terms used in this Code of Ethics are provided in Appendix A.**<br>

**Who is subject to the Code of Ethics?** 

The Code of Ethics applies to you if:

• You are a full-time or part-time employee at State Street Global Advisors;

• You are a contingent worker at State Street Global Advisors and have been notified that you are subject to the Code of
Ethics;

• You are an officer of the registered investment companies managed\* by SSGA Funds Management, Inc. ("SSGA
FM") who is not employed by the Firm, but is employed by another business unit with access to Firm data such as non-public information regarding any client's purchase or sale of securities, non-public information regarding any client's portfolio holdings, or non-public securities recommendations made to clients; or

• The Conduct Risk Management Office has designated you as a person subject to the Code of Ethics.

For the purposes of the remainder of this document, those personnel who are subject the Code of Ethics will be called "Covered Persons".

**Your family members may also be subject to the Code of Ethics.** 

If you are a Covered Person, the requirements of this Code also apply to people related to you, such as spouses, domestic partners, minor children, financial dependents, including adult children and other relatives living in your household if they are financially dependent on you, as well as other persons designated as Covered Persons by the CCO or the Conduct Risk Management Office, or their designee(s). 

+ For purposes of this Code of Ethics, "State Street Global Advisors" refers to all State Street Global Advisors legal entities globally. \*This excludes registered investment companies for which SSGA FM serves as sub-adviser. Information Classification: General 3

------

**Covered Person Classifications** 

As a Covered Person, you are either an **Access Person, Investment Person,** or **Non-Access Person.** Your classification is determined by your access to information. The Conduct Risk Management Office will notify you of your classification. Your classification may change as your responsibilities and access to information change. It is your responsibility to notify the Conduct Risk Management Office if your role or level of access to information changes.

**Access Person** Access Persons are those Covered Persons who:

• as part of their regular functions or duties have access to non-public information about a client's holdings, or a client's previous securities transactions; have access to non-public information about Firm portfolio holdings; or manage or are managed by employees who
execute these functions;

• are officers of the funds; or

• have been designated as Access Persons by the Firm's CCO or the Conduct Risk Management Office.

**Investment Person** Investment Persons are Covered Persons who are involved in or have access to the investment decision-making process, or who have access to information regarding pending securities transactions, or decisions to buy or sell securities on behalf of clients. Investment Persons include those Covered Persons who:

• as part of their regular functions or duties, make investment recommendations or decisions on behalf of client
portfolios; participate in making investment recommendations or decisions on behalf of client portfolios; are responsible for day-to-day management of a client or proprietary fund portfolio; have knowledge of
or access to investment decisions under consideration for a client or proprietary fund portfolio; execute trades on behalf of

client or proprietary fund portfolios; have access to information regarding pending trades; analyze and research securities on behalf of client or proprietary fund portfolios; have access to information regarding pending trade orders for any client or proprietary fund portfolio; have access to or knowledge of changes in investment recommendations; have access to mathematical models used by the Firm as basis for investment strategy for client or proprietary fund portfolios; or manage or are managed by employees who execute those functions; or <br>

• other persons designated as Investment Persons by the Firm's CCO or the Conduct Risk Management Office.

**Examples of Investment Persons** include, but are not limited to, portfolio managers, research analysts, IT and Operations professionals with certain systems access, and Investment Risk personnel.

**Non-Access Persons** are Covered Persons who are not categorized as Access Persons or Investment Persons.

**Unsure what classification applies to you?** 

The Conduct Risk Management Office will notify you of your classification, which is based on your responsibilities and level of access to information at the Firm.

Dual employees may also be subject to the State Street Securities Trading policy and/or the Global Personal Investment Policy.

Contact the Conduct Risk Management Office at <u>ethics@StateStreet.com</u> if you have questions.

Information Classification: General 4

------

**Code of Ethics Rule Summary** 

Refer to the list below to understand which rules apply to you based on your Covered Person Classification. Read the full text of the Code of Ethics to fully understand the requirements and prohibitions, as well as any exceptions to these rules.

 **All Covered Persons**

 **Required** 

• Ensure compliance with the Code on the part of your spouse, domestic partner or other Covered Persons [p. 3]

• Comply with applicable securities laws [p. 7]

• Acknowledge the Code of Ethics when you become a Covered Person and annually thereafter [p. 7]

• Report accounts and holdings when you become a Covered Person and annually thereafter [p. 8]

• Report or confirm transactions quarterly [p. 12]

• Maintain accounts at Approved Brokers if required in your region [p. 9]

• Provide duplicate statements and confirmations to the Conduct Risk Management Office [p. 8]

• Report any actual, attempted, or suspected violation of this policy as soon as you are aware of it [p. 7]

• Obtain pre-approval from the Conduct Risk Management Office before participating in
investment clubs [p. 13]

• Contact the Conduct Risk Management Office for any exemption to this Code of Ethics [p. 20]

• Understand if and how the State Street Securities Trading Policy applies to you [p. 15]

 **Prohibited** 

• Do not misuse client or proprietary fund information, or State Street proprietary information for personal gain [p. 14]

• Do not trade excessively [p. 13]

• Do not sell securities short [p. 13]

• Do not trade options or futures on Covered Securities or engage in spread-betting [p. 13] Do not participate in Initial
Public Offerings [p. 13]

 **Access Persons**

 **Required** 

• Follow all above rules for Covered Persons

• Pre-Clear trades in Covered Securities [p. 16]

 **Prohibited** 

• Do not sell or dispose of positions in Covered Securities for a profit that have been held for less than 60 days [p. 14]

 **Investment Persons**

 **Required** 

• Follow all the above rules for Covered Persons and for Access Persons

 **Prohibited** 

• Do not personally trade Covered Securities when there is an open order on any trading desk for a client portfolio or fund
for the same or similar security (Open Order Rule) [p. 17]

• Do not personally trade Covered Securities within seven days (before or after) of a trade in the same or equivalent
security in a client portfolio with which you are associated (Blackout Period) [p. 17]

• Research Analysts: Do not personally trade Covered Securities in proximity to a recommendation you have made or to which
you have access (Research Analyst Waiting Period) [p. 18]. This Rule applies regardless of the direction of trade, nature of recommendation, or amount traded.

Information Classification: General 5

------

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Statement of General Fiduciary Principles**<br>State Street Global Advisors, its subsidiaries and affiliates, and the officers of the Funds owe a fiduciary duty to their advisory clients (including the Funds) and are subject to certain laws and regulations governing personal securities trading. As a Covered Person, you have an obligation to adhere to the following principles:<br>• At all times, avoid placing your personal interest ahead of the interests of the clients or Funds of the Firm;<br>• Avoid actual and potential conflicts of interests between personal activities and the activities of the Firm's clients or Funds;<br>• Do not misappropriate investment opportunities from clients or Funds;<br>• Do not employ or engage in any device, scheme, artifice, act, course of business, or manipulative practice to defraud clients or Funds; and<br>• Do not make untrue or misleading statements that defraud clients or Funds.<br>As such, your personal financial transactions and related activities, along with those of your family members and other Covered Persons, must be conducted consistently with this Code, including the principles herein, to avoid any actual or potential conflicts of interest with the Firm's clients or funds, or abuse of your position of trust and responsibility.<br>When making personal investment decisions, you must ensure that you do not violate the letter or the spirit of this Code. We have developed this Code to promote the highest standards of behavior and ensure compliance with applicable laws. The Code sets forth procedures and limitations that govern the personal securities transactions of every Covered Person. | **Related Policies and Procedures**<br>All employees of the Firm are required to comply with the following key policies and procedures, which set forth ethical standards required of all Firm personnel. This is not an exhaustive list of State Street or State Street Global Advisors Policies or Procedures to which employees are subject.<br>**State Street Corporate Policies and Procedures**<br>• Standard of Conduct<br>• Gifts and Entertainment Policy<br>• Political Contributions and Activities Policy<br>• Outside Activities Policy<br>• Conflicts of Interest Policy<br>• Anti-Corruption and Bribery Policy<br>• Conduct Standards Policy<br>• Inside Information Standard<br>**State Street Global Advisors Policies and Procedures**<br>• Inside Information/Information Barriers Policy and Procedure<br>• Global Conflicts of Interest Procedure<br>• Anti-Corruption and Bribery Procedure<br>Note: Policies and related procedures or guidance may be revised from time to time. Employees will find the most up-to-date policies on the intranet.<br>|

---

It is not possible for this Code to address every situation involving the personal trading of Covered Persons. The Conduct Risk Management Office is charged with oversight and interpretation of the Code in a manner considered fair and equitable, in all cases placing the

Firm's clients' interests first.

It is not enough to only comply with the technical aspects of the Code – **it is every Covered Person's responsibility to ensure their personal investments do not, in any way, compromise the Firm's fiduciary duty to any client.**

If you are not certain whether it is appropriate to trade, then do not trade. If you are unsure whether a personal investment matter meets the required ethical standard, contact the Conduct Risk Management Office.

Information Classification: General 6

------

## Requirements of the Code
**General Requirements** 

Applicable to All Covered Persons

**001.** **Comply with Applicable Securities Laws** 

As a Covered Person, you must comply with securities laws and firm-wide policies and procedures, including this Code of Ethics. Securities laws include the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002, Title V of the Gramm-Leach-Bliley Act, any rules adopted by the SEC under these statutes, the Bank Secrecy Act and rules adopted there under by the SEC or the Department of the Treasury. Covered Persons outside the US may be subject to additional country-specific requirements and securities laws, which are included in Appendix D.

**002.** **Report Violations** 

Covered Persons are required to promptly report any violation of the Code, whether their own or another individual's, to the Conduct Risk Management Office. Alternatively, you may contact the Senior Compliance Officer in your region, the CCO, or, to report anonymously, The Speakup Line (see Appendix E for contact information).

Nothing in the Code is intended to or should be understood to prohibit or otherwise discourage certain disclosures of confidential information protected by "whistleblower" laws to appropriate government authorities. State Street will not tolerate any discipline or other retaliation against employees who properly make such legally-protected disclosures.

**Keep in mind** 

Our policies and procedures and the Code of Ethics may be more restrictive than applicable securities laws.

**003. Certify Receipt and Compliance with the Code** 

*Initial Certification (New Covered Person)* 

Within 10 calendar days of becoming subject to the Code, each new Covered Person must certify in writing that they (i) have read, understand, and will comply with the Code, (ii) will promptly report violations or possible violations, and (iii) recognize that an employee conduct issue related to the Code may be grounds for action under the *State* Street Conduct Standards Policy.

*Annual Certification (All Covered Persons)* 

Each Covered Person is required to certify annually in writing that they (i) have read and understand the Code, (ii) have complied with the Code during the course of their association with the Advisor; (iii) will continue to comply with the Code in the future; (iv) will promptly report violations or possible violations, (iv) recognize that an employee conduct issue with the Code may be grounds for action under the *State Street Conduct Standards Policy.*

**Certification Required** 

Covered persons are required to certify to the Code of Ethics <u>within 10 days</u> of becoming subject to the Code of Ethics and on an <u>annual</u> basis.

Information Classification: General 7

------

**Personal Trading Requirements** 

**– Accounts and Holdings** 

Applicable to All Covered Persons

You must disclose all Reportable Accounts (as defined on page 10) when you become a Covered Person and continue to make accurate and timely account and holding reports. If you are an employee in the US, you must maintain your account(s) with an Approved Broker. Employees in other regions are encouraged to maintain accounts with "Preferred Brokers" where available. All Covered Persons must ensure the Conduct Risk Management Office receives timely and accurate reporting from your broker.

**004.** **File Initial and Annual Holding Reports** 

Covered Persons must file initial and annual holdings reports ("Holdings Reports") in StarCompliance as follows:

a. Content of Holdings Reports

i. The name of any broker, dealer or bank with whom the Covered Person maintained a Reportable Account. Please note that
all Reportable Accounts (see page 10) must be reported in StarCompliance.

ii. The title, number of shares and principal amount of each Covered Security.

b. Timing of Holdings Reports

i. Initial Report – No later than 10 calendar days after becoming a Covered Person. The information must be current
as of a date no more than 45 days prior to the date the Covered Person became an Access Person, Investment Person, or Non-Access Person.

ii. Annual Report – Annually, within 30 calendar days following calendar year end, and the information must be
current as of a date no more than 45 calendar days prior to the date the report is submitted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

c. Exceptions from Holdings Report Requirements

i. Holdings in securities which are not Covered Securities are not required to be included in Holdings Reports (please
see Appendix C).

Any Reportable Accounts opened during the Covered Person's employment or engagement with the Firm must also be immediately disclosed in StarCompliance regardless of whether there is any activity in the account. Any Reportable Accounts and holdings that become newly associated with a Covered Person through marriage, gift, inheritance, or any other life event, must be disclosed within 30 days of the event.

**005.** **Provide Duplicate Statements and Confirms** 

Each Covered Person is responsible for ensuring the Conduct Risk Management Office receives timely reporting for their Reportable Accounts holdings, (as well as timely reporting for transactions of Covered Securities within the Reportable Account). This applies to any Reportable Accounts (including Fully Managed Accounts) active during the Covered Person's employment or engagement with the Firm. Covered Persons must ensure that on a regular basis the Conduct Risk Management Office or their designee(s) receives account statements (e.g. monthly, quarterly statements) listing all transactions for the reporting period. (See Section 007 – Filing Quarterly Transaction Reports.)

The Covered Person can accomplish this one of two ways:

a. Maintain Reportable Accounts at Approved Brokers (or Preferred Brokers for employees based in non-US jurisdictions, where available). Approved Brokers and Preferred Brokers send electronic feeds to the Conduct Risk Management Office; Covered Persons are not required to provide paper-based reporting for
accounts with Approved Brokers or Preferred Brokers. However, it

Information Classification: General 8

------

is the responsibility of the Covered Person to verify the accuracy of these feeds through Quarterly Transaction Reports and Annual Holdings Reports. Employees in the US, with limited exceptions, are required to maintain their accounts at Approved Brokers. (See Section 006- Maintain Accounts with Approved Brokers.) <br>

b. For accounts not on an electronic feed, the Covered Person must supply the Conduct Risk Management Office with
required duplicate documents. Please see Appendix D for regional requirements.

**006.** **Maintain Accounts with Approved Brokers (US Employees) or Preferred Brokers (Non-US employees)** 

Unless an exemption applies, Covered Persons must maintain accounts with Approved Brokers or Preferred Brokers if required in their region. Please refer to the Personal Securities Trading FAQs on the Conduct Risk Management sharepoint site for regional requirements and for a list of Approved Brokers. The Approved Brokers provide both the holdings and transaction activity in each account through an electronic feed into StarCompliance.

The categorical exemptions to the Approved Broker and Preferred Broker requirement are:

a. Accounts approved by the Conduct Risk Management Office as Fully Managed Accounts (also known as Discretionary
Accounts. See Appendix A.)

b. Accounts that are part of a former employer's retirement plan (such as a 401(k)); or accounts that are part of a
spouse's or other Covered family member's retirement plan at their employer.

c. Employees who are not US citizens and are working in the US on an ex-pat assignment or whose status is non-permanent resident.

d. Securities held in physical form.

e. Securities restricted from transfer.

f. Accounts held by employees, or any Covered Persons, in countries outside the

region where they are currently assigned, which are not eligible for transfer to an Approved or Preferred Broker in that region.

To apply for an exception to maintain an account outside of an Approved Broker, contact the Conduct Risk Management Office at <u>ethics@statestreet.com</u>.

Please see Appendix D for additional regional requirements.

Information Classification: General 9

------

## Reportable Accounts Guide
To determine whether an account is a Reportable Account, determine who owns or benefits from the account *and* what types of investments the account can hold. If you have a beneficial interest in an account and the account can hold Covered Securities, it is likely a Reportable Account.

**What is a Beneficially Owned Account?** 

A Beneficially Owned Account is:

• An account where the Covered Person enjoys the benefits of ownership (even if title is held in another name); and/or

• An account where the Covered Person, either directly or indirectly, has investment control or the power to vote or
influence the transaction decisions of the account.

Generally, an individual is considered to be a beneficial owner of accounts or securities when the individual has or shares direct or indirect pecuniary interest in the accounts or securities. Pecuniary interest means that an individual has the ability to profit, directly or indirectly, or share in any profit from a transaction. Indirect pecuniary interest extends to, but is not limited to:

• Accounts and securities held by immediate family members sharing the same household;

• Securities held in trust (certain restrictions may apply, see Appendix B for more details); and

• A right to acquire Covered Securities through the exercise or conversion of any derivative security, whether or not
presently exercisable

**No Reporting Required**<br> • Checking and savings accounts holding only cash<br>• Government-subsidized pension saving products<br>• Pension Accounts established under the Hong Kong regulation or Singapore Regulation with **no capacity** to invest in Covered Securities<br>• Savings Plans within the course of company pension schemes which only allow unaffiliated open-end mutual funds<br>• Educational Savings Plans which only allow unaffiliated open-end mutual funds<br>• Other Registered Commingled Funds (such as IRC 529 Plans in the US)<br>**When in doubt, contact the Conduct Risk Management Office** <u>ethics@statestreet.com</u><br>

**What are Covered Securities?** 

For a complete list of Covered Securities, see Appendix C. Some of the most common types are listed below.

• Stocks, including State Street Corp. ("STT")

• Exchange-traded funds ("ETFs")

• Exchange-traded notes ("ETNs")

• Open-ended mutual funds advised by the Firm

• Municipal and Corporate bonds

Information Classification: General 10

------

**Do I Have to Report this Account?** 

Do I have a beneficial interest? <br> *See Page 10 and Appendix B*

![LOGO](g806602g76i16.jpg)

---

| |
|:---|
| Can the account transact and/or hold<br> Covered Securities?**\*** |
| *See Appendix C* |

---

![LOGO](g806602g76i16.jpg)

Reporting in StarCompliance **Required**

**Common Reportable Account Types** 

The list of account types below is not all-inclusive. Consult the Conduct Risk Management Office if you have questions about whether an account is a Reportable Account.

• **Brokerage Account** 

All brokerage accounts are reportable, including but not limited to retirement accounts, non-retirement accounts, IRAs, RRSPs, UTMA and UGMA accounts. For further definition see Appendix A.

• **Employee Incentive Awards Deposit Account Provided by the Firm** 

Accounts that are provided to employees into which their Employee Incentive Awards are deposited are reportable.

• **Employee Stock Ownership and Purchase Plans ("ESOPs"/ "ESPPs")** 

• **Employer-sponsored Retirement Plans that invest/hold Covered Securities** 

&nbsp;&nbsp; **Practical Examples of Beneficial Ownership**<br>**See Appendix B for a more detailed discussion of Beneficial Ownership. For the purposes of this sidebar, "you" includes you, your spouse or domestic partner, or anyone else in your household who would be covered by the Code of Ethics, as discussed on page 3.**<br>**UGMA/UTMA Accounts**<br> If you are the custodian of an UGMA/UTMA account for a minor, and one or both of you is a parent of the minor, you are a beneficial owner. If you are the beneficiary of an UGMA/UTMA and are of majority age, you are a beneficial owner.<br>**Education Accounts**<br> If you are the custodian of an Education Savings Account (ESA), or Coverdell IRA, you are a beneficial owner.<br>**Trusts**<br> If you are a trustee <u>or</u> the settlor of the trust who can independently revoke the trust and participate in making investment decisions for the trust, you are a beneficial owner. <br> If you are a beneficiary of the trust but have no investment control, the account is beneficially owned as of the date the trust is distributed, not before.<br>**Investment Powers over an Account**<br> If you have any form of investment control, such as trading authorization or power of attorney, the account is beneficially owned as of the date you are able to direct or participate in the trading decisions.<br>

Employer-sponsored retirement plans and accounts globally in which the employee/participant invests in or transacts in Covered Securities are reportable. Please see Appendix G "Code of Ethics FAQs" for further clarification on Reportable Retirement Plans.

Information Classification: General 11

------

**Personal Trading Requirements – Transactions** 

Applicable to All Covered Persons

The Code of Ethics requires quarterly reporting of all Covered Transactions and imposes restrictions on certain types of transactions.

**007.** **Filing Quarterly Transaction Reports** 

Each Covered Person is required to submit a quarterly transaction report for and certify to transactions during the calendar quarter in all Covered Securities. Each Covered Person shall also certify that the Reportable Accounts listed in the transaction report are the only Reportable Accounts in which Covered Securities were traded during the quarter for their direct or indirect benefit. For the purposes of this report, transactions in Covered Securities that are effected in Automatic Investment Plans or accounts approved by the Conduct Risk Management Office as Fully Managed Accounts need not be reported.

Covered Persons must file quarterly transaction reports ("Transaction Reports") in StarCompliance

a. Quarterly Transactions Report For Transactions in Covered Securities are reported on a standardized form in
StarCompliance that identifies the date, security, price, volume, amount, and effecting broker of each Covered Security transaction.

b. Quarterly Transactions Report For Newly Established Reportable Accounts reported in StarCompliance Holding ANY
Securities (provided there were transactions during the quarter) include the broker dealer or bank with whom the reportable account is held, the date the account was opened, and the date the report was submitted to the Conduct Risk Management
Office.

c. Timing of Transactions Report: No later than 30 calendar days after the end of the calendar quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

d. Exception from Transactions Report Requirements

i. Transactions effected pursuant to an Automatic Investment Plan as well as transactions in securities that are not
Covered Securities,

ii. Transactions effected in accounts that are not Reportable Accounts are not required to be included in the Quarterly
Transaction Report (please see Appendix C), and

iii. Transactions effected in a previously-approved Fully Managed Account.

e. Confirmation of Trades

i. Employees must confirm their transactions in StarCompliance after execution and before or simultaneously with their
quarterly transaction certification.

ii. If an electronic feed has been set up for broker account (e.g. Fidelity account), the trading data will flow
automatically to StarCompliance overnight, however, it is still the employee's responsibility to maintain accurate data in StarCompliance and it is best practice to check whether electronic feeds were accurate by checking records in
StarCompliance prior to completing a quarterly certification.

f. State Street Employee Incentive Stock Awards

i. STT employee incentive stock awards must be treated as Covered Securities. Employees receiving awards during a quarter
should ensure any awards vested during the quarter are appropriately reflected in their holdings, and

ii. All employees must preclear **any** transactions in STT (note, STT employee incentive awards are not subject to the
60 day profit prohibition when they become vested).

Information Classification: General 12

------

**008.** **Excessive Trading** 

Excessive trading may interfere with job performance or compromise the duty that the Firm owes to clients and consequently is not permitted. Levels of personal trading will be monitored by the Conduct Risk Management Office and high levels of personal trading will be reported to senior management. A pattern of excessive trading may lead to action under the *State Street Conduct Standards Policy.*

**009.** **Futures, Options, Contracts for Difference, and Spread Betting** 

Covered Persons are prohibited from buying or selling options and futures on Covered Securities (other than employee stock options). Covered Persons are also prohibited from engaging in Contracts for Difference ("CFDs") and spread betting related to Covered Securities.

**010.** **Shorting of Securities** 

Covered Persons are prohibited from selling securities short.

**011.** **Initial Public Offerings** 

Covered Persons are prohibited from acquiring securities through an allocation by an underwriter of an initial public offering ("IPO"). An exception may be considered for situations where the spouse/domestic partner/partner of a Covered Person ("PACs") is eligible to acquire shares in an IPO of his/her employer with prior written disclosure to and written approval from the Conduct Risk Management Office.

**012.** **Private Transactions** 

Covered Persons must obtain prior written approval from the Conduct Risk Management Office before participating in a Private Placement or any other private securities transaction. To request prior approval, Covered Persons must provide the Conduct Risk Management Office with a completed Private Placement Request form, which is available on StarCompliance.

If the request is approved, the Covered Person must confirm the transaction in StarCompliance, verify the details on the next

Quarterly Transaction Report, and report the holding on the Annual Holdings Report. If the transaction has already been loaded to the Covered Person's Transaction report, the Covered Person must confirm the transaction in the Quarterly Transaction Report.

Covered Persons may not invest in Private Transactions if the opportunity to invest could be considered a favor or gift designed to influence the Covered Person's judgment in the performance of his/her job duties, or as compensation for services rendered to the issuer, or if there are any other potential conflicts of interest with State Street business. In determining whether to grant approval for any investment for a Private Transaction, the Conduct Risk Management Office will consider, among other things, whether it would be possible (and appropriate) to reserve that investment opportunity for one or more of the Firm's clients, as well as whether the opportunity to invest has been offered to the Covered Person as a gift, or as compensation for services rendered.

See Appendix A for definitions.

**013.** **Investment Clubs and Investment Contests** 

Covered Persons must obtain prior written approval from the Conduct Risk Management Office before participating in an Investment Club. If approved, the brokerage account(s) of the Investment Club are subject to the Approved Broker, pre-clearance and reporting requirements of the Code. Sharing research or other proprietary information obtained through employment with State Street with Investment Club participants is prohibited. Covered Persons are prohibited from direct or indirect participation in an investment contest. These prohibitions extend to the direct or indirect acceptance of payment or offers of payments of compensation, gifts, prizes, or winnings as a result of participation in such activities.

Information Classification: General 13

------

**014.** **Use of the Firm's Proprietary Information** 

The Firm's investment recommendations and other Proprietary Information are for the exclusive use of the Firm and may not be used to inform employees' personal investment decisions. Examples of Proprietary Information include but are not limited to:

– Information about Firm or issuer business strategies, technologies, or ideas;

– client or proprietary transactions;

– changes to recommended portfolio weightings, portfolio composition, or target prices for any security;

– voluntary actions to be taken on any corporate actions;

– research produced by employees of the Firm that could influence client investment decisions, such as employees' recommendations maintained in internal databases ; or

– any other information that may reasonably be expected could influence an investor's decision-making that has not been made public without violation of law or our policies.

The definition of Proprietary Information does not include information that has been made public or comes from a service that broadly disseminates published information, such as Bloomberg. You should always assume that information is confidential, and treat it as such, unless it is clearly indicated otherwise. It is our responsibility to protect Proprietary Information and Confidential Information against unintentional, malicious, or unauthorized disclosure or misuse. Any pattern of personal trading suggesting misuse of proprietary information may be investigated. Any misuse or distribution of information that is proprietary, confidential, or non-public is prohibited.

Applicable to Access Persons and Investment Persons

**015.** **Short-Term Trading** 

All Access Persons and Investment Persons are prohibited from profiting from the purchase and sale (or sale and purchase) of the same or equivalent Covered Security within sixty (60) calendar days. Transactions that result in a profit will be considered an employee conduct issue and may result in action under *the State Street Conduct Standards Policy.* Any profit amount shall be calculated by the Conduct Risk Management Office or their designee(s), the calculation of which shall be binding. The following will not be matched with other purchases and sales for purposes of this provision:

a. Transactions in securities that are not Covered Securities such as money market funds (see Appendix C);

b. Transactions in ETFs, except certain actively-managed SSGA ETFs (see Appendix C);

c. Securities received as a gift or inheritance that cannot be matched to another transaction effected by a Covered
Person within 60 days;

d. Involuntary actions such as vested employer stock awards, dividend reinvestments, or other corporate actions;

e. Cashless exercise of a Covered Person's employer stock options

f. Transactions executed in Fully Managed Accounts that have been approved by the Conduct Risk Management Office; or

g. Transactions effected through an Automatic Investment Plan, the details of which the Conduct Risk Management Office
has been notified of in advance.

Information Classification: General 14

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Exempted Transactions** 

Pre-clearance is **not required** for certain common transactions.

**Automatic Investment Plans** 

*Prior Notification to Conduct Risk Management Office Required* 

Purchases or sales that are part of an Automatic Investment Plan where the investment decisions are non-discretionary after the initial selections by the account owner (although the initial selection requires pre-clearance). These include dividend reinvestment plans, payroll and employer contributions to retirement plans, transactions in Employee Stock Ownership Programs ("ESOPs") and similar services. Initiation of an Automatic Investment Plan must be disclosed to the Conduct Risk Management Office in advance.

**Certain Exempt Covered Securities** 

Transaction(s) in Covered Securities for which the Conduct Risk Management Office has determined pre-clearance is not required (see Appendix C).

**Discretionary Accounts (Fully Managed Accounts)** 

*Prior Approval from Ethics Office Required* 

**Subject to prior approval of the account from the Conduct Risk Management Office, transactions made in a Discretionary Account. An account will not be deemed a Discretionary Account until the Conduct Risk Management Office has approved the account as such.** 

**Certain Educational Savings Plans** 

Transactions in educational savings plans that only allow unaffiliated open-end mutual funds, unit-investment trusts, or other registered commingled products (such as IRC 529 Plans in the US).

**Involuntary Transactions** 

**Involuntary** purchases or sales such as mandatory tenders, dividend reinvestments, broker disposition of fractional shares, debt maturities. **Voluntary** tenders, transactions executed as a result of a margin call, and other non-mandatory corporate actions are to be pre-cleared, unless the timing of the action is outside the control of the Covered Person, or the Conduct Risk Management Office has determined pre-clearance is not required for a particular voluntary transaction.

**Gifts or Inheritance** 

Covered Securities received via a gift or inheritance, although such Covered Securities must be reported in StarCompliance. Note that pre-clearance is required prior to giving or donating Covered Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**016.** **State Street Securities** 

Each Covered Person must ensure that they have reported any Reportable Account holding State Street securities, and that they have reported in StarCompliance any vested State Street shares acquired through an employee incentive award. During certain trading windows, employees may be permitted to exercise Employee Incentive Awards without being subject to the Blackout and Open Order rules (page 17). **However, these transactions remain subject to the pre-clearance and reporting requirements of the Code at all times.** Employees will be notified when a trading window commences and terminates. During this period, all employees remain subject to the *State Street Global Advisors Inside Information/Information Barrier Policy and Procedure,* as well as the Personal Trading section of the State Street Standard of Conduct.

Additionally, certain employees of the Firm are subject to the State Street Securities Trading Policy ("SSTP") and will be notified of this by the Conduct Risk Management Office. Employees subject to SSTP must also comply with all notifications under that Policy.

Information Classification: General 15

------

## Pre-Clearance
The Pre-Clearance requirement mitigates the risk of creating actual or perceived conflicts of interest with the trading activities made on behalf of Firm clients. **With limited exceptions, pre-clearance approval is required before you make any personal trades of Covered Securities.**

It applies to all your Reportable Accounts, including those belonging to, or in which, your spouse or other Covered family member has an economic interest or control. (See Appendix B)

It applies to transactions in most types of securities, including transactions in State Street Corp. stock (STT). (See Appendix C)

![LOGO](g806602g17j66.jpg)

**Personal Trading Requirements – Pre-Clearance** 

Applicable to Access Persons and Investment Persons

You are required to receive pre-clearance approval before trading in any Covered Security, with limited exceptions. This applies to transactions made by your spouse, other Covered family member and/or in any other accounts in which you or they have beneficial ownership or control.

**017.** **Pre-Clearance** 

Access Persons and Investment Persons must request and receive pre-clearance approval prior to effecting a personal transaction in all Covered Securities (see Appendix C).

a. All pre-clearance requests must be made by submitting a Trade Request for the
amount of shares to be transacted in StarCompliance.

b. Pre-clearance is required for donations and/or gifts of securities made.

Trade requests may be approved or denied at the discretion of the Conduct Risk Management Office, In general, a transaction will be denied if the Covered Security is on any relevant Restricted List or if the Conduct Risk Management Office has reason to believe that the Covered Person has access to relevant information concerning the security or the issuer that is intended for the sole purpose of the Firm or its clients. **If the Covered Person has access to such information, it is the Covered Person's responsibility not to seek pre-clearance nor to trade in the security even if pre-clearance approval has been granted.** For Investment Persons, a transaction may also be denied if the Covered Security is actively being purchased or sold for a client account or account of a Fund, or the Covered Security has been traded within seven days in a portfolio for which they have management discretion.

Information Classification: General 16

------

**018.** **Restricted List** 

To manage potential conflicts of interest, lists of issuers whose securities (including options and futures) may not be traded are integrated into the pre-clearance approval process. A security that you already own could be placed on a Restricted List at any time. If this happens, you may be unable to sell the security until it is removed from any Restricted List. Employees are not entitled to review any Restricted List.

The contents of any Restricted Lists shall be considered material non-public information and is subject to the considerations of the Inside Information/Information Barrier Policy and Procedure.

**019.** **Pre-Clearance Approval** 

Pre-clearance approval granted by the Conduct Risk Management Office is valid only for the same business day the approval is granted and is ineffective on all dates where the relevant Exchange is not open for business. Make note of any expiration time and date displayed on any approved Trade Request. Because approvals are strictly time-limited, place day orders only. "Good-till-cancelled" orders are not permitted, including stop-loss, limit, and stop-limit orders other than day orders. This is a result of the pre-clearance function relying upon point-in-time data in order to have any effect.

Applicable to Investment Persons

**020.** **Open Order Rule** 

Subject to the de minimis transaction threshold (Section 023-De Minimis Transactions), Investment Persons may not trade in a Covered Security, with the exception of ETFs, on any day that the Firm, globally, has a pending buy or sell order in the same Covered Security on any of the trading desk(s) for any client or proprietary fund portfolio until the order is executed or withdrawn (note: Executed trades are considered with regards to the Blackout Period, as outlined below).

**By seeking pre-clearance, you are attesting that you understand that the proposed trade:** 

• Is not influenced by any non-public information that is proprietary or confidential to State Street or to our clients

• Does not create any conflict with State Street's responsibilities to its clients

• Is lawful

If you are not certain whether it is appropriate to trade, then do not trade. Contact the Conduct Risk Management Office at <u>Ethics@StateStreet.com</u> for guidance prior to placing any order to trade.

**021.** **Blackout Period for Investment Persons** 

Subject to the de minimis transaction threshold described below, Investment Persons may not buy or sell a Covered Security for seven calendar days before or after a transaction in the same or equivalent security for a client or proprietary fund portfolio with which they are associated. An employee is considered "associated" with a client or proprietary fund portfolio if they have ability to exercise, or direct, trades for the portfolio.

All Covered Persons are required to avoid placing their personal interest ahead of the interests of the clients of the Firm. Investment Persons associated with portfolios must be particularly careful not to engage in personal trading that calls into question whether they have placed their interests ahead of the interest of their clients. Trading in securities personally in advance of similar trades made by the respective Portfolio may lead to questions about the Covered Person's priorities. In such cases, it will be incumbent upon the Covered Person to demonstrate that the clients' priorities were not subordinated to their own priorities. Similarly, failing to trade in a security for a Portfolio because of a personal trade that has recently been made is also a subordination of client interest. Covered Persons with responsibility for portfolios finding themselves needing to violate the Blackout Period in order to avoid placing their personal interest ahead of the clients' interest must inform the Conduct Risk Management Office. Such violations are

Information Classification: General 17

------

subject to action under the State Street Conduct Standards Policy.

**022.** **Waiting Period for Research Analysts** 

Research Analysts with access to tools containing proprietary buy or sell recommendations, who receive internal communications regarding buy or sell recommendations, or participate in investment meetings where buy or sell recommendations are discussed, must refrain from trading in securities that are the subject of such recommendations for their personal account if it could reasonably be presumed that such information was relevant to an investment decision. Examples of recommendations that could reasonably be presumed to be relevant to investment decisions on behalf of client portfolios include but are not limited to buy or sell recommendations, internal analyst upgrades or downgrades related to an issuer, changes to recommended portfolio weightings, portfolio composition, or target prices for any security, or recommendations regarding voluntary corporate actions. Examples of information that are not presumed to be relevant to investment decisions include market analyses, economic updates, or financial updates regarding an issuer that do not also include a buy/sell recommendation or ratings analysis. Research Analysts who trade Covered Securities for their personal account should expect heightened monitoring

of such trades. If there is a reason to question whether such trades were made on the basis of confidential or proprietary non-public information, it will be incumbent upon the Covered Person to demonstrate otherwise. Please see Appendix D for additional regional requirements.

**023.** **De Minimis Transactions** 

De Minimis transactions are subject to the pre-clearance and reporting requirements of the Code, and must follow all holding period and Restricted List requirements of this Code. However, there is a limited exclusion applied for De Minimis transactions in that they are not subject to the Open Order Rule or the Blackout Rule as described above. This exclusion exists because of the breadth and frequency with which securities are being traded across all of the portfolios of the Firm, which would effectively prohibit almost all equity trading by Investment Persons.

A "De Minimis transaction" is a personal trade that meets one of the following conditions: A single transaction in a security with a value equal to or less than US $10,000 (or the local country equivalent) or multiple transactions in a security within a five business day window following the initial trade date (i.e. initial trade date plus five subsequent business days) that have an aggregate value equal to or less than US $10,000.

<u>De Minimis Transaction Examples: (*All values are in US Dollars)*</u>

---

| | | |
|:---|:---|:---|
| **Status** | **Transaction(s)** | **Notes** |
|  De minimis | Day One: Buy $10,000 of ABC, Inc. | No subsequent transactions in the following five business days |
|  De minimis | Day One: Sell $4,000 of XYZ Corp.<br> Day Two: Sell $3,000 of XYZ Corp.<br> Day Four: Sell $800 of XYZ Corp. | Within five business days, less than $10,000 worth of XYZ Corp. is sold; all transactions in the aggregate are under the de minimis threshold |
|  NOT de minimis  | Day One: Buy $9,500 of PQR, Inc.<br> Day Three: Buy $1,000 of PQR, Inc. | Day Three transaction is not considered de minimis, as it brings the total for the five business day window after the initial trade date over $10,000 |
|  NOT de minimis\* | Day One: Sell $9,000 of Acme Corp.<br> Day Six: Sell $1,500 of Acme Corp. | Day Six transaction is not considered de minimis, as it brings the total for the five business day window following the initial trade date over $10,000 |

---

\*Day One is the initial trade date and Day 6 is the fifth business day following the initial trade date.

StarCompliance will calculate whether a transaction meets the De Minimis thresholds and will take this into account when determining whether to approve or deny a personal trade.

Information Classification: General 18

------

**024.** **Additional Requirements for Fundamental Equity Investment Persons** 

Investment Persons on Fundamental Equity Teams are required to obtain the respective Asset Class CIO's approval before transacting in single name equities and securities that can convert to single name equities for their personal accounts, including but not limited to transactions in stock, preferred stock, warrants, and any security convertible to an equity. This additional preapproval requirement includes the purchase of new positions and purchase of additional shares of existing positions, with the exception of dividend reinvestments and other involuntary corporate actions. With prior approval from the Conduct Risk Management Office, exceptions from the additional preapproval requirement may be allowed for Fully Managed Accounts. Prior approval can also be requested to transact in securities directly through an employer stock plan or employer stock options, or in circumstances of hardship.

Pre-approvals provided by Asset-Class CIOs will be effected after a trade pre-clearance request has been approved in StarCompliance. Upon receipt of the StarCompliance approval email, the employee shall forward the approval to the appropriate CIO and cc GA_Compliance_CIO_CodeReview. The employee shall provide the Asset Class CIO with any relevant information regarding the trade request. The CIO will review the request and "reply all" when approving or denying the request. Employees may not trade if the request has been denied by Conduct Risk Management Office via StarCompliance or by the CIO. Pre-approvals provided by Asset-Class CIOs expire at the same time and date noted on the StarCompliance pre-approval.

Information Classification: General 19

------

## Administration and Enforcement of the Code
The Code of Ethics is administered by the Conduct Risk Management Office and reviewed and approved by State Street Global Advisors' Global Fiduciary and Conduct Committee. Violations of the Code are subject to consideration under the conduct standards framework and the *State Street Conduct Standards Policy.*

**025.** **Distribution of the Code** 

Each new Covered Person will be given a copy of the Code. Each new employee's offer letter will include a statement advising the individual that he/she will be subject to the Code if he/she accepts the offer or employment. If, outside the US due to local employment practices it is necessary to modify this approach, then the offer letters will be revised in accordance with local law.

**026.** **Applicability of the Code of Ethics' Provisions** 

The Conduct Risk Management Office has the discretion to determine that the provisions of the Code do not apply to a specific transaction or activity and may exempt any transaction from one or more trading prohibitions. The Conduct Risk Management Office will review applicable facts and circumstances of such situations, such as specific legal requirements, contractual obligations or financial hardship. Any Covered Person who would like such consideration must submit a request in writing to the Conduct Risk Management Office. Further, all granted exemptions must be in writing.

**027.** **Review of Reports** 

The Conduct Risk Management Office shall review and monitor reports filed by Covered Persons. Covered Persons and their

<sup>1</sup> In the US, recordkeeping requirements for code of ethics are set forth in Rule 17j-1 of the Investment Company Act of 1940 and Rule 204-2 of the Investment Advisers Act of 1940.

supervisors may or may not be notified of the Conduct Risk Management Office's review.

**028.** **Violations and Sanctions** 

Any potential employee conduct issues related to the provisions of the Code may be investigated. If a determination is made that an employee conduct issue occurred, the issue will be addressed under the *State Street Conduct Standards Policy.* Where consistent with applicable law, and among other appropriate sanctions that should be considered, sanctions may include a requirement to disgorge an amount equivalent to profits earned or losses avoided as a result of personal trading made in egregious violation of the Code. Material violations will be reported promptly to the respective Firm Committees, boards of trustees/managers of the Reportable Funds or relevant committees of the boards and, when relevant, impacted clients. Please see Appendix D for additional regional requirements.

**029.** **Amendments and Committee Procedures** 

The Global Fiduciary and Conduct Committee ("the Committee") will review and approve the Code, including appendices and exhibits, and any amendments thereto. The Committee may, from time to time, amend the Code and any appendices and exhibits to the Code to reflect updated business practice or changes in applicable law and regulation. In addition, the Committee, or its designee, shall submit any material amendments to this Code to the respective boards of trustees/managers of the Reportable Funds, or their designee(s), for ratification no later than six months after adoption of the material change.

**030.** **Recordkeeping** 

The Conduct Risk Management Office shall maintain records in accordance with the requirements set forth in applicable securities laws.<sup>1</sup>

Information Classification: General 20

------

## Appendix A
Terms and Definitions

These definitions are designed to help you, as a Covered Person, understand and apply the Code. These definitions are integral and a proper comprehension of them is necessary to comply with the Code.

Please contact the Conduct Risk Management Office (<u>ethics@statestreet.com</u>) if you have any questions.

**Covered Person** employees of the Firm, including full-time and part-time, exempt and non-exempt employees (where applicable); officers of the Funds who are not employed by the Firm; and other such persons as designated by the Conduct Risk Management Office. Covered Person also includes certain designated contingent workers engaged at the Firm, including but not limited to consultants, contractors, and temporary help, as well as an employee of another business unit with access to Firm data such as non-public information regarding any client's purchase or sale of securities, non-public information regarding any client's portfolio holdings, or non-public securities recommendations made to clients (SSGS APAC, corporate functions, etc.).

Covered Persons are subject to the provisions of this Code. The personal trading requirements of the Code also apply to related persons of Covered Persons, such as spouses, domestic partners, minor children, adult children and other relatives living in the Covered Person's household, as well as other persons designated as a Covered Person by the CCO or the Conduct Risk Management Office, or their designee(s).

**Automatic Investment Plan** means a program in which regular periodic purchases (or withdrawals) are made automatically in (or from) investment accounts in accordance with a predetermined schedule and allocation. This includes a dividend reinvestment plan and some payroll or employer contributions to retirement plans.

**Brokerage Account** means an account with a financial institution in which the account owner can hold or trade a wide variety of securities and

exercises brokerage capabilities. Covered Persons should contact their financial institution(s) to verify whether or not their account(s) can hold Covered Securities.

**Covered Securities** are those securities subject to certain provisions of the Code. See Appendix C - Guide: Requirements by Security Types.

**Contract for Difference** ("CFD") a financial derivative, a contract between two parties typically described as "buyer" and "seller", stipulating that the seller will pay to the buyer the difference between the current value of an asset and its value at contract time. If the difference is negative, then the buyer pays instead to the seller. CFD allows investors to take advantage of prices moving up (long positions) or prices moving down (short positions) on underlying financial instruments and are often used to speculate on those markets.

**Employees Incentive Awards** means Firm Performance Equity Plan ("PEP") Awards in State Street Corporation ("STT") stock, Deferred Stock Awards ("DSAs"), Restricted Stock Awards ("RSAs"), STT stock options which are granted to employees, and any other awards that are convertible into or otherwise based on STT common stock.

**Fully Managed Account (also known as Discretionary Account)** means an account Beneficially Owned by you or your Related Persons in which you or your Related Persons have ceded all direct control, influence, and approval, and have contractually assigned responsibility for the timing and nature of all trades and all day-to-day investment management decisions to an independent party. For the purpose of this Policy, the Conduct Risk Management Office is required to approve in advance account arrangements qualifying as Fully Managed Accounts.

**Private Transaction** means a securities offering that is executed outside of a recognized securities exchange. Examples of private transactions include private placements, co-operative investments in real estate, commingled investment vehicles such as hedge funds, investments in family owned or privately held businesses, private company shares, and Initial Coin or Token Offerings promoted by a

Information Classification: General 21

------

Decentralized Autonomous Organization ("DAO")<sup>2</sup> where there is investment in a venture or project for expectation of profit. Time-shares and cooperative investments in real estate used as a primary or secondary residence are not considered to be private placements.

**Reportable Fund** means any commingled investment vehicle (except money market funds), or Exchange Traded Note ("ETN") for which the Firm act as investment advisor, sub-advisor, principal underwriter, or marketing agent.

**Selling Short** is the practice of selling a stock that is not currently owned, while simultaneously borrowing the shares from a lending party and delivering the borrowed shares to the buyer.

**State Street Global Advisors Compliance Department** means all global Firm compliance staff, including those in local offices, in charge of ensuring compliance with the laws and regulations in force worldwide and who report up to the Chief Compliance Officer of the Firm.

**Spread Betting** is any of various types of wagering, such as on sports, financial instruments or house prices for example, on the outcome of an event where the pay-off is based on the accuracy of the wager, rather than a simple "win or lose" outcome. As an example, spread betting on a stock allows the investor to speculate on the price movement of the stock.

2 A "virtual" organization embodied in computer code and executed on a distributed ledger of blockchain.

Information Classification: General 22

------

## Appendix B
Beneficial Ownership of Accounts and Securities

**A Beneficially Owned Account is:** 

• An account where the Covered Person enjoys the benefits of ownership (even if title is held in another name); and/or

• An account where the Covered Person either directly or indirectly, has investment control or the power to vote or
influence the transaction decisions of the account.

The Code's provisions apply to accounts beneficially owned by the Covered Person, as well as accounts under direct or indirect influence or control of the Covered Person.

Generally, an individual is considered to be a beneficial owner of accounts or securities when the individual has or shares direct or indirect pecuniary interest in the accounts or securities. Pecuniary interest means that an individual has the ability to profit, directly or indirectly, or share in any profit from a transaction. Indirect pecuniary interest extends to, but is not limited to:

• Accounts and securities held by immediate family members sharing the same household;

• Securities held in trust (certain restrictions may apply); and

• A right to acquire Covered Securities through the exercise or conversion of any derivative security, whether or not
presently exercisable.

Practical Application

**If an adult child is living with his or her parents:** If the child is living in the parents' house, but does not financially support the parent, the parents' accounts and securities are not beneficially owned by the child. If the child works for the Firm and does not financially support the parents, accounts and securities owned by the parents are not subject to the Code, with the exception of UGMA/UTMA, or similar types of accounts, which are legally owned by the child. If one or both parents work for the Firm, and the child is supported by the parent(s), the child's accounts and securities are subject to the Code because the parent(s) is a beneficial owner of the child's accounts and securities.

**Co-habitation (domestic partnership or PACS):** Domestic partnerships or PACS are generally considered to be permanent, committed arrangements. Accounts where the Covered Person is a joint owner are subject to the Code. If the Covered Person contributes to the maintenance of the household and the financial support of the partner, the partner's accounts and securities are beneficially owned by the Covered Person and are therefore subject to the Code.

**Co-habitation (roommate):** Generally, roommates are presumed to be temporary and have no beneficial interest in one another's accounts and securities.

**UGMA/UTMA and similar types of accounts:** If the Covered Person or the Covered Person's spouse or other Covered family member is the custodian for a minor child, the account is beneficially owned by the Covered Person. If someone other than the Covered Person, or the Covered Person's spouse or other Covered family member, is the custodian for the Covered Person's minor child, the account is not beneficially owned by the Covered Person. If a Covered Person is the minor/beneficiary of the account, the account is a Reportable Account.

**Transfer on Death accounts ("TOD accounts"):** TOD accounts where the Covered Person receives the interest of the account upon death of the account owner are not beneficially owned by the

Information Classification: General 23

------

Covered Person until the account transfer occurs (this particular account registration is not common).

**Trusts** 

• If the Covered Person is the trustee for an account where the beneficiaries are not immediate family members, the
position should be reviewed in light of outside business activity reporting requirements and generally will be subject to a case-by-case review for Code applicability.

• If the Covered Person is a beneficiary and does not share investment control with a trustee, the Covered Person is not a
beneficial owner until the Trust assets are distributed.

• If a Covered Person is a beneficiary and can make investment decisions without consultation with a trustee, the trust is
beneficially owned by the Covered Person.

• If the Covered Person is a trustee and a beneficiary, the trust is beneficially owned by the Covered Person.

• If the Covered Person is a trustee, and a family member is beneficiary, then the account is beneficially owned by the
Covered Person.

• If the Covered Person is a settler of a revocable trust, the trust is beneficially owned by the Covered Person.

• If the Covered Person's spouse/domestic partner is trustee and beneficiary, a case-by-case review will be performed to determine applicability of the Code.

**College age children:** If a Covered Person has a child in college and still claims the child as a dependent for tax purposes, the Covered Person is a beneficial owner of the child's accounts and securities.

**Powers of Attorney:** If a Covered Person has been granted durable or conditional power of attorney over an account, the Covered Person is not the beneficial owner of the account until such time as the power of attorney is exercised. If a Covered Person has been granted full power of attorney over an account, the account is a

Reportable Account. Beneficial ownership runs until revocation/termination of the power of attorney.

Information Classification: General 24

------

## Appendix C
Guide: Requirements by Security Types

*This list is not all inclusive and may be updated from time to time. Contact the Conduct Risk Management Office for additional guidance as needed.* 

![LOGO](g806602g03f16.jpg)

Information Classification: General 25

------

![LOGO](g806602g1112031015817.jpg)

Information Classification: General 26

------

## Appendix D
Country Specific Requirements

All Countries

**Personal Data** 

Refer to the Global Privacy and Personal Data Protection Standard (Standard) for the minimum requirements on how to handle and protect personal data in all jurisdictions in which State Street operates. Also reference the regional addenda to the Standard for any laws of a specific country that may require additional privacy or data protection measures.

Australia

**Additional Blackout Period** 

From time to time the Responsible Entity ("RE") of the Australian domiciled Exchange Traded Funds (ETFs) may determine certain Covered Persons could be in possession of material, non-public information relating to one or more ETFs for which State Street Global Advisors, Australia, Limited is the investment advisor, and request a blackout period covering the securities be implemented, whether due to consideration of Australian Securities Exchange listing rules, the insider trading provisions of the Corporations Act 2001 or similar. Typically this may occur during the two weeks prior to the public announcement of income distributions for an ETF.

Upon receipt of a request from the RE, Compliance will review the request and may initiate a blackout period over the relevant ETFs on such terms as are deemed appropriate. Covered Persons to whom a blackout period applies will be advised of the commencement, duration and other specifics of any such blackout period. Any trading in contravention of the blackout period will be treated as an employee conduct issue.

Japan

**Holding Period** 

Covered Persons in Japan are subject to a minimum holding period of 6 months regardless of whether a transaction would result in the Covered Person realizing a loss or profit. (Section V. B. Short - Term Trading) This requirement applies to equities, equity warrants, convertible bonds and other equity related products, and does not apply to ETFs, mutual funds, and non-convertible bonds.

Information Classification: General 27

------

## Appendix E
Contacts

Questions or Concerns about Policies or Situations:

The Conduct Risk Management Office *(<u>ethics@statestreet.com</u>)* 

Actual or Possible Violations of Policy:

The Conduct Risk Management Office *(<u>ethics@statestreet.com</u>)* 

Speak Up Line

<u>https://secure.ethicspoint.com/domain/media/en/gui/55139/index.html</u>

Information Classification: General 28

------

## Appendix F
Code of Ethics Reporting Requirements

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Report** | **Frequency** | **Requirements** | **Notes** |
| &nbsp;&nbsp;&nbsp;**Initial Holdings Report** | Once; completed after becoming Covered Person | Disclose all Reportable Accounts and Holdings in StarCompliance (See Page 8) | Remember to set up duplicate statements and confirmations from your broker, if necessary (See 005. Duplicate Statements and Confirms on Page 8). |
| &nbsp;&nbsp;&nbsp;**Annual Holdings Report** | Annually in January | Ensure all holdings in Covered Securities (See Appendix C) are correctly reflected in StarCompliance. This includes updating holdings to account for involuntary transactions that have occurred, such as mergers, stock splits, and other corporate actions. | **You are responsible for ensuring the data in this report is accurate.** If you hold an account at an Approved Broker and holdings data is fed to StarCompliance (See 006. Maintain Accounts with Approved Brokers), you must still review the data on the report for accuracy. |
| &nbsp;&nbsp;&nbsp;**Quarterly Transaction Report** | Quarterly | Ensure all Reportable Transactions for the quarter are correctly reflected in StarCompliance.<br>Transactions in accounts previously approved by the Conduct Risk Management Office as Fully Managed Accounts or Automatic Investment Plans are not Reportable Transactions. | **You are responsible for ensuring the data in this report is accurate.** If you hold an account at an Approved Broker and holdings data is fed to StarCompliance (See 006. Maintain Accounts with Approved Brokers), you must still review the data on the report for accuracy. |
| &nbsp;&nbsp;&nbsp;**Ad Hoc Holdings Report** | Ad hoc<br>*Marriage, new children, inheritance, and financial planning activities may cause accounts and holdings to be opened or associated to you.* | Disclose any newly opened or newly associated Reportable Accounts and Holdings in StarCompliance within 30 days of opening or association. | Remember to set up Duplicate Statements and Confirms (See 005. Duplicate Statements and Confirms on Page 8). |

---

Information Classification: General 29

------

## Appendix G
Code of Ethics FAQs

The Conduct Risk Management Office has additional FAQ and How-To documents related to using Star and completing required reporting (e.g., Initial and Annual Holdings Reports) available on its sharepoint site.

I work in the United States. Do I have to report my State Street 401(k)?

No, you are not required to disclose your State Street 401(k) at this time unless you have chosen to participate in the linked brokerage account option, in which case the linked brokerage account, and the holdings in the account, do need to be reported. 401(k) and other self-invested workplace pension accounts are reportable where you or your Covered Persons have investment discretion beyond that of allocating a monthly value to a specific risk profile or sector, or selecting from a limited number of pre-selected funds.

However, if you have activated the Brokerage Link feature for your 401(k), you must report that account and ensure that all transactions and holdings are reflected accurately in Quarterly Transaction Reports and Annual Holdings Reports, respectively.

**My spouse (or I) has a company- or government-sponsored retirement plan** (such as a 401(k) in the US, or a superannuation plan in Australia). How do I determine what accounts, holdings, and transactions must be disclosed and pre-cleared?

*Due to the wide variety of plans available globally, it's important to check with the Conduct Risk Management Office if you have any questions about how this applies to you.*

**Accounts** 

If the account or plan currently holds Covered Securities (see Appendix C), you must disclose the account.

Retirement plans usually have a "line up" of available investments from which the account owner can choose; if there is a Covered Security in the lineup of available investments, but you do not currently invest in Covered Securities, you are not required to disclose the account. If at any point, your retirement plan invests in Covered Securities, you must disclose the account, the holdings in Covered Securities, and the Transactions in Covered Securities, as described below.

**Holdings** 

You must disclose <u>any</u> holdings in Covered Securities (see Appendix C).

**Transactions** 

<u>Usually</u>, transactions in a retirement plan you are actively participating in fall under the Automatic Investment Plan definition (see Appendix A) and are treated as such. However, you must pre-clear and disclose any transactions over which you exercised discretion. For example, the following types of transactions must be pre-cleared and disclosed:

• A change in future investment allocations in Covered Securities, such as increasing your automatic payroll investment in
Security XYX from 15% to 20%. Note: only the initial change must be pre-cleared and reported.

• Re-allocating your existing holdings in Covered Securities, such as changing
your portfolio from 50% Security XYZ and 50% Security ABC to 75% Security XYZ and 25% Security ABC.

If you or your Covered Person are automatically enrolled in a plan with default investment percentages (e.g., 7% of salary) and investment options, any transactions made as a result of your automatic enrollment are not subject to disclosure or pre-clearance.

Information Classification: General 30

------

![LOGO](g806602g1112031019068.jpg)

**I have an account with an Approved or Preferred Broker** which feeds my transactions to Star. Can you tell me what I have to do with regards to pre-clearance and reporting whenever I make personal trades?

In order to ensure your trades are properly pre-cleared and reported, make sure that you:

(1) Pre-clear the trade by submitting a Trade Request in StarCompliance. Trade
Requests:

• Must be for the correct security, account, and trade direction (buy vs. sell).

• Must be for at least the amount of shares that you plan on trading. You may always trade **fewer** shares than you
were approved for, but you may not trade **more.** 

(2) Are valid only for the day they are approved. Wait for the result (Approved or Denied) from

Star before trading. You'll typically receive the result within seconds on screen and will receive an email with the results. Trade Request approvals are valid only for the day they are approved. Make note of the expiration time and date for any approved Trade Request.

(3) Ensure your transactions are accurately reflected in Star.

• You are **required** to do this on a quarterly basis (known as the Quarterly Transactions Report), but many people
find it easier to compare their transactions in Star with their broker's records (e.g., a statement or trade confirmations) more frequently.

• When you submit your Quarterly Transactions Report, it must accurately reflect all Reportable Transactions for the
quarter.

• The Approved Broker feeds are tools to help keep accurate records in Star; you are responsible for the accuracy of the
data in your Code of Ethics reports.

**My account is not with an Approved Broker.** Can you tell me what I have to do with regards to pre-clearance and reporting whenever I make personal trades?

In order to ensure your trades are properly pre-cleared and reported, make sure that you:

(1) Pre-clear the trade by submitting a Trade Request in StarCompliance. Trade
Requests:

• Must be for the correct security, account, and trade direction (buy vs. sell).

• Must be for at least the amount of shares that you plan on trading. You may always trade **fewer** shares than you
were approved for, but you may not trade **more.** 

• Are valid only for the day they are approved.

(2) Wait for the result (Approved or Denied) from Star before trading. You'll typically receive the result within
seconds on screen and will receive an email with the results. Trade Request approvals are valid only for the day they are approved. Make note of any expiration time and date for any approved Trade Request.

(3) Ensure your transactions are accurately reflected in Star.

• You are **required** to do this on a quarterly basis (known as the QuarterlyTransactions Report), but many people
find it easier to use the StarCompliance "Execute" function after they trade. The <u>StarCompliance User Guide</u> on the Conduct Risk Management sharepoint site provides step-by-step instructions.

• When you submit your Quarterly Transactions Report, it must accurately reflect all Reportable Transactions for the
quarter.

Information Classification: General 31

## Ex-99.(Q)

Exhibit q

POWER OF ATTORNEY

The undersigned hereby constitutes and appoints Amy Domini Thornton, Megan L. Dunphy, , Meaghan T. O'Rourke-Alexander, and Maurizio Tallini, and each of them, with full powers of substitution as her true and lawful attorneys and agents to execute in her name and on her behalf in any and all capacities the Registration Statement on Form N-1A, and any and all amendments thereto, filed by Domini Investment Trust (Securities Act File No. 33-29180) (the "Trust"), with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, and/or the Securities Act of 1933, as amended, and any and all instruments which such attorneys and agents, or any of them, deem necessary or advisable to enable the Trust to comply with such Acts, the rules, regulations, and requirements of the Securities and Exchange Commission, and the securities or Blue Sky laws of any state or other jurisdiction, and the undersigned hereby ratifies and confirms as her own act and deed any and all acts that such attorneys and agents, or any of them, shall do or cause to be done by virtue hereof. Any one of such attorneys and agents has, and may exercise, all of the powers hereby conferred.

IN WITNESS WHEREOF, the undersigned has executed this instrument as of the 9<sup>th</sup> day of September 2025.

---

| |
|:---|
| /s/ Carole M. Laible |
| _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
| Carole M. Laible |

---

------

POWER OF ATTORNEY

The undersigned hereby constitutes and appoints Amy Domini Thornton, Megan L. Dunphy, Carole M. Laible, Meaghan T. O'Rourke-Alexander, and Maurizio Tallini and each of them, with full powers of substitution as her true and lawful attorneys and agents to execute in her name and on her behalf in any and all capacities the Registration Statement on Form N-1A, and any and all amendments thereto, filed by Domini Investment Trust (Securities Act File No. 33-29180) (the "Trust"), with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, and/or the Securities Act of 1933, as amended, and any and all instruments which such attorneys and agents, or any of them, deem necessary or advisable to enable the Trust to comply with such Acts, the rules, regulations, and requirements of the Securities and Exchange Commission, and the securities or Blue Sky laws of any state or other jurisdiction, and the undersigned hereby ratifies and confirms as her own act and deed any and all acts that such attorneys and agents, or any of them, shall do or cause to be done by virtue hereof. Any one of such attorneys and agents has, and may exercise, all of the powers hereby conferred.

IN WITNESS WHEREOF, the undersigned has executed this instrument as of the 9<sup>th</sup> day of September 2025.

---

| |
|:---|
| /s/ Caroline Flammer |
| _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
| Caroline Flammer |

---

------

POWER OF ATTORNEY

The undersigned hereby constitutes and appoints Amy Domini Thornton, Megan L. Dunphy, Carole M. Laible, Meaghan T. O'Rourke-Alexander, and Maurizio Tallini and each of them, with full powers of substitution as his true and lawful attorneys and agents to execute in his name and on his behalf in any and all capacities the Registration Statement on Form N-1A, and any and all amendments thereto, filed by Domini Investment Trust (Securities Act File No. 33-29180) (the "Trust"), with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, and/or the Securities Act of 1933, as amended, and any and all instruments which such attorneys and agents, or any of them, deem necessary or advisable to enable the Trust to comply with such Acts, the rules, regulations, and requirements of the Securities and Exchange Commission, and the securities or Blue Sky laws of any state or other jurisdiction, and the undersigned hereby ratifies and confirms as his own act and deed any and all acts that such attorneys and agents, or any of them, shall do or cause to be done by virtue hereof. Any one of such attorneys and agents has, and may exercise, all of the powers hereby conferred.

IN WITNESS WHEREOF, the undersigned has executed this instrument as of the 9<sup>th</sup> day of September 2025.

---

| |
|:---|
| /s/ Gregory Ratliff |
| _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
| Gregory A. Ratliff |

---

------

POWER OF ATTORNEY

The undersigned hereby constitutes and appoints Amy Domini Thornton, Megan L. Dunphy, Carole M. Laible, Meaghan T. O'Rourke-Alexander, and Maurizio Tallini and each of them, with full powers of substitution as his true and lawful attorneys and agents to execute in his name and on his behalf in any and all capacities the Registration Statement on Form N-1A, and any and all amendments thereto, filed by Domini Investment Trust (Securities Act File No. 33-29180) (the "Trust"), with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended, and/or the Securities Act of 1933, as amended, and any and all instruments which such attorneys and agents, or any of them, deem necessary or advisable to enable the Trust to comply with such Acts, the rules, regulations, and requirements of the Securities and Exchange Commission, and the securities or Blue Sky laws of any state or other jurisdiction, and the undersigned hereby ratifies and confirms as his own act and deed any and all acts that such attorneys and agents, or any of them, shall do or cause to be done by virtue hereof. Any one of such attorneys and agents has, and may exercise, all of the powers hereby conferred.

IN WITNESS WHEREOF, the undersigned has executed this instrument as of the 9<sup>th</sup> day of September 2025.

---

| |
|:---|
| /s/ John Shields |
| _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
| John L. Shields |

---