Oberweis Asset Management INSTITUTIONAL INVESTOR OBMCX INVESTOR CLASS OVERVIEW PERFORMANCE FUND HOLDINGS FUND OBJECTIVE Seeks capital appreciation through investment in micro-cap growth companies. The Fund focuses on companies with improving growth characteristics. INVESTMENT STRATEGY The Micro-Cap Fund, under normal circumstances, invests at least 80% of its net assets in securities that, at the time of purchase, have a market capitalization of less than or equal to $600 million or are within the range of companies represented in the Russell Microcap® Growth Index, whichever is greater. 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 OBMCX 674375209 Investor Class 1/1/96 Russell Microcap Growth Index SALES CHARGE EXPENSE RATIO REDEMPTION FEE MINIMUM INVESTMENT The Oberweis Micro-Cap Fund is a no-load fund 1.58% net for the year ended December 31, 2020 1% redemption fee on shares held three months or less $1,000 non-IRA, $500 IRA The gross expense ratio of expense offset arrangements and expense reimbursements was 1.59% and 1.34% for OBMCX and OMCIX, 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 OBMCX to the extent that total ordinary operating expenses, as defined, exceed in any one year the following amounts expressed as a percentage of each Fund’s average daily net assets: 1.8% of the first $50 million; plus 1.6% of average daily net assets in excess of $50 million; and for OMCIX 1.55% of the first $50 million; plus 1.35% of average daily net assets in excess of $50 million. OUR 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 Micro-Cap Fund. PRICING (AS OF 12/2/21) OBMCX DAILY NAV 42.48 DAY CHANGE 0.94 YTD RETURN 45.98% NET ASSETS (MILLIONS) 81.50 See pricing for all funds AVERAGE ANNUAL TOTAL RETURNS (PERIODS ENDED 9/30/21) 81.5481.54 20.7520.75 19.8419.84 11.6411.64 0 20 40 60 80 100 1 Year 5 Years 10 Years Since Inception 1/1/96 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 (1/1/96 – 9/30/21) USD Value Oberweis Micro-Cap Fund Russell Microcap Growth Index 1996 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 $0 $50,000 $100,000 $150,000 $200,000 The Russell Microcap Growth Index measures the performance of those Russell Microcap Growth companies with higher price-to-book ratios and higher forecasted growth values. The performance data includes reinvested dividends. The Russell Microcap Growth Index is represented by the smallest 1,000 securities in the small cap Russell 2000 Index plus the next 1,000 securities. Each index is an unmanaged group of stocks, the performance of which does not reflect the deduction of fees, expenses, or taxes. 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. SECTOR ALLOCATION (AS OF 9/30/21) Consumer Discretionary 24.5% Consumer Staples 0.0% Energy 3.4% Financial Services 1.9% Healthcare 13.2% Materials & Processing 4.0% Producer Durables 17.6% Information Technology 31.4% Utilities 0.0% Cash 4.0% TOP 10 HOLDINGS (AS OF 9/30/21) Axcelis Technologies 3.3% Veritiv Corp. 2.7% ChannelAdvisor Corporation 2.4% Boot Barn Holdings, Inc. 2.1% Aviat Networks, Inc. 2.0% Organogenesis Holdings, Inc. 2.0% Alphatec Holdings, Inc. 2.0% Alpha & Omega Semiconductor 2.0% Angiodynamics, Inc. 2.0% Guess, Inc. 1.9% TOTAL 22.4% Source: Eikon Top 10 Holdings and Sector Weightings as a % of Total Net Assets The Oberweis Funds release 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.