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NOTICE TO SHAREHOLDERS AND BROKER-DEALERS:

The Emerald Mutual Funds will make any capital gains or income dividend payments for calendar year 2017 in December.

Important dates for any distributions are as follows:

Record Date: Friday, December 15, 2017

Ex-Date: Monday, December 18, 2017

Payable Date: Tuesday, December 19, 2017

Please check back to this website for updated information as it becomes available.

About Emerald Mutual Funds

Emerald Mutual Fund Advisers Trust is the investment advisor to the Fund and fully-owned subsidiary of Emerald Advisers, Inc. Located in Leola, Pennsylvania, Emerald Advisers has been providing investment advisory services to institutional investors and the general public since 1992. At Emerald, we firmly believe that the key to our investment success is to try and understand the companies we follow better than anyone else. It's a disciplined, fundamental, bottom-up research approach that we call "The Emerald Advantage".