Oberweis Asset Management INSTITUTIONAL INVESTOR OBSIX INSTITUTIONAL CLASS OVERVIEW PERFORMANCE FUND HOLDINGS FUND OBJECTIVE Seeks capital appreciation through investment in small-cap growth companies. The Fund focuses on companies with improving growth characteristics. INVESTMENT STRATEGY The Small-Cap Opportunities Fund invests, under normal circumstances, at least 80% of its net assets in the securities of smaller-cap companies with a market capitalization of less than $5 billion at the time of investment, with an emphasis on companies with improving growth characteristics. MANAGEMENT TEAM Kenneth S. Farsalas, CFA David I. Covas, CFA Kevin L. Cowell, CFA Jim E. Chartrand Nick Curry, CFA James W. Oberweis, CFA SUMMARY PROSPECTUS LITERATURE THIRD QUARTER 2021 COMMENTARY THIRD QUARTER 2021 FACT SHEET FUND BASICS TICKER CUSIP CATEGORY INCEPTION BENCHMARK OBSIX 674375878 Institutional Class 5/1/17 Russell 2000® Index SALES CHARGE EXPENSE RATIO REDEMPTION FEE MINIMUM INVESTMENT The Oberweis Small-Cap Opportunities Fund is a no-load fund 1.30% net for the year ended December 31, 2020 1% redemption fee on shares held three months or less $1,000,000 The gross expense ratio of expense off set arrangements and expense reimbursements was 2.03% and 1.78% for OBSOX and OBSIX, respectively. Oberweis Asset Management, Inc. (OAM), the Fund’s investment advisor is contractually obligated through April 30, 2022 to reduce its management fees or reimburse OBSOX to the extent that total ordinary operating expenses exceed in any one year 1.55% expressed as a percentage of the Fund’s average daily net assets and for OBSIX 1.30%. OUR PROCESS PROCESS Our process rests on our firmwide commitment to uncovering and capitalizing on the persistent and recurring stock pricing inefficiencies in global equities caused by a lag in investor response to new information. This lag in recognizing the catalysts likely to positively impact future earnings growth drives the security selection across all our strategies and mutual funds. The criteria used within each product, however, can differ. This is how our investment team implements our philosophy in the Small-Cap Opportunities fund. PRICING (AS OF 12/2/21) OBSIX DAILY NAV 26.01 DAY CHANGE 0.62 YTD RETURN 40.52% NET ASSETS (MILLIONS) 13.47 See pricing for all funds AVERAGE ANNUAL TOTAL RETURNS (PERIODS ENDED 9/30/21) 6363 21.4821.48 17.1817.18 9.179.17 0 10 20 30 40 50 60 70 1 Year 5 Years 10 Years Since Inception 9/15/96 Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so that you may have a gain or loss when shares are sold. Current performance may be higher or lower than quoted. Before investing, consider the Fund’s investment objectives, risks, charges, and expenses. To obtain a copy of the prospectus or summary prospectus containing this and other information, call 800-323-6166. Read it carefully before investing. The Oberweis Funds invest in rapidly growing smaller and medium-sized companies that may offer greater return potential. However, these investments often involve greater risks and volatility. Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations. There is no guarantee that the Funds can achieve their objectives. The Oberweis Funds are distributed by Oberweis Securities, Inc. Member: FINRA and SIPC. GROWTH OF $10,000 INVESTMENT (9/15/96 – 9/30/21) USD Value Oberweis Small-Cap Opportunities Fund Russell 2000 Index 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 $0 $20,000 $40,000 $60,000 $80,000 $100,000 The Russell 2000 Index measures the performance of approximately 2,000 companies with small-market capitalizations. Institutional Class shares OBSIX performance information was calculated using the historical performance of Investor Class shares for periods prior to May 1, 2017. Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate, so that you may have gain or loss when shares are sold. Current performance may be higher or lower than quoted. Visit us online at oberweisfunds.com for most recent month-end performance. SECTOR ALLOCATION (AS OF 9/30/21) Consumer Discretionary 23.1% Consumer Staples 0.0% Energy 4.5% Financial Services 5.8% Healthcare 14.9% Materials & Processing 12.5% Producer Durables 10.2% Information Technology 23.7% Utilities 0.0% Cash 5.3% TOP 10 HOLDINGS (AS OF 9/30/21) Synaptics, Inc. 4.1% Shutterstock, Inc. 3.1% Axcelis Technologies 3.0% Crocs, Inc. 2.8% Veritiv Corp. 2.0% Angiodynamics, Inc. 2.0% Alphatec Holdings, Inc. 1.9% Sea World Entertainment, Inc. 1.9% Organogenesis Holdings, Inc. 1.8% Tempur Sealy International, Inc. 1.8% TOTAL 24.4% Source: Eikon Top 10 Holdings and Sector Weightings as a % of Total Net Assets The Oberweis Funds releases the top 10 holdings as of the most recent quarter-end after a 60-day lag. A complete list of holdings can be obtained by contacting a shareholder services representative after the aforementioned 60-day delay periods. The Oberweis Funds invest primarily in small-cap companies, which may have volatile price movements. Continuous publication of the Funds’ current holdings has the potential to affect trading volume and the prices of the securities in which the Funds invest. By delaying the release of the holdings, Oberweis may be able to deter front running by traders who could impair our ability to build positions in our best ideas at the best prices. Portfolio holdings are subject to change at any time. References to specific securities should not be construed as a recommendation to buy or sell and should not be assumed profitable. INVEST NOW Contact Us ©2021 Oberweis Asset Management Privacy Legal Terms of Use DISCLOSURE: Before investing, consider the Fund’s investment objectives, risks, charges, and expenses. To obtain a copy of the prospectus or summary prospectus containing this and other information, call 800-323-6166. Read it carefully before investing. The Oberweis Funds invest in rapidly growing smaller and medium-sized companies that may offer greater return potential. However, these investments often involve greater risks and volatility. Foreign investments involve greater risks than U.S. investments, including political and economic risks and the risk of currency fluctuations. There is no guarantee that the Funds can achieve their objectives. The products described on this website are intended to be made available only to persons residing in the United States. Performance of our products is historical and does not guarantee future results. This website should not be considered a solicitation or an offering of any of the Oberweis Asset Management, Inc. ("OAM") products to investors residing outside of the United States. Please review the Terms and Conditions for using this website as well as our Privacy Notice. The Oberweis Funds are distributed by Oberweis Securities, Inc. Member: FINRA and SIPC.