Shareholder Reports

Investors should carefully consider the investment objectives, risks, charges and expenses of the Humankind US Stock ETF. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 888-557-6692. The prospectus should be read carefully before investing. The Humankind US Stock ETF is distributed by Northern Lights Distributors, LLC member FINRA/SIPC. Humankind Investments, LLC and Northern Lights Distributors, LLC are not affiliated. 6249-NLD-03172022

Important Risk Information

The Fund is a recently organized, diversified management investment company with limited operating history.

There is no assurance that the Fund will achieve its investment objective, and you can lose money investing in this Fund. SRI investment risk, which is the chance that stocks screened by the Index Sponsor for SRI criteria generally will underperform the stock market as a whole or that the particular stocks selected for the Index will, in the aggregate, trail returns of other mutual funds or ETFs screened for SRI criteria. In tracking the Index, the Fund may, from time to time, invest more heavily in companies in a particular economic sector or sectors, which would subject the Fund to proportionately higher exposure to the risks of that sector. The profitability of companies in the healthcare sector, as traditionally defined, including healthcare equipment and services companies, may be affected by government regulations and government healthcare programs, increases or decreases in the cost of medical products and services, an increased emphasis on outpatient services, demand for medical products and services and product liability claims, among other factors.

Companies in the technology sector, including information technology companies, may have limited product lines, markets, financial resources or personnel. Investors in small- and medium-sized companies typically take on greater risk and price volatility than they would by investing in larger, more established companies. The value of your investment in the Fund is based on the values of the Fund’s investments, which may change due to economic and other events that affect markets generally, as well as those that affect particular regions, countries, industries, companies or governments. Although the Fund’s shares are approved for listing on the NYSE Arca (the “Exchange”), there can be no assurance that an active trading market will develop and be maintained for Fund shares. Although Fund shares are listed for trading on the Exchange, there can be no assurance that an active trading market for such shares will develop or be maintained. The Fund is not actively managed and therefore would not sell an equity security due to current or projected underperformance of a security, industry or sector, unless that security is removed from the Index.

Additional disclosure for NYSE's What's the Fund video: This communication is provided for informational purposes only and expresses views of Humankind Investments, LLC (Humankind), an Investment Adviser. There is no guarantee that any investment strategy will achieve its objectives, generate profits, or avoid losses. Humankind’s social responsibility based approach to investing may not produce desired results and could result in underperformance compared with other investments. Any reference to the “Humankind Value” approach is provided for illustrative purposes only and indicates a general framework of guiding principles that inform Humankind’s overall investment process. Investing involves risk including possible loss of principal. Past performance does not guarantee future results.

© Humankind Investments LLC 2021. See also our Terms of Use for other important disclaimers and legal information.