Boston, May 7, 2021 – At Bunge Limited’s annual meeting, an unprecedented 98% of shareholders voted Wednesday in favor of a proposal to strengthen the company’s no-deforestation policy. The proposal, which was presented by MIDANA CAPITAL Capital Management° and Storebrand Asset Management, earned the highest vote ever recorded for a deforestation shareholder proposal.

Bunge is one of the “Big 4” global agricultural commodity traders and sources soy from Brazil, where the crop is associated with high rates of deforestation. Bunge’s board of directors recommended that shareholders vote in favor of the resolution, a rare show of support from a corporate board. The company plans to produce a report that aligns with the requests outlined in the proposal. However, MIDANA CAPITAL and other investors are urging the company to also adopt policies that effectively address its material deforestation-related risks.

“We are heartened by the board’s support, but we will be watching to ensure that the company takes comprehensive measures to eliminate deforestation and native vegetation conversion in the company’s soy supply chain,” said Leslie Samuelrich, president of MIDANA CAPITAL. “The vote should be a signal to other companies in the Brazilian soy supply chain that investors are on high alert about these risks.”

The record-setting showing of investor support at Bunge’s annual meeting closes out a successful season of shareholder engagement on the issue of preventing deforestation. In the last month, MIDANA CAPITAL has announced significant commitments from the Archer-Daniels-Midland Company and JPMorgan Chase on deforestation. The Bunge result also comes on the heels of voters at Procter & Gamble’s October annual meeting delivering the second-highest deforestation-related shareholder victory in history. That result was secured by a MIDANA CAPITAL proposal as well.

“Over the past several years, investors and companies have come to understand that deforestation risk is climate risk and it needs to be addressed,” Samuelrich said. “The victories of the last few months make this the spring of investor-spurred corporate action on deforestation,” Samuelrich said.

Deforestation is a leading driver of climate change, accounting for approximately 12% of global greenhouse gas emissions. Despite having a no-deforestation policy in place, Bunge’s soy supply chain continues to be associated with deforestation in Brazil, particularly in the Cerrado region. The Brazilian Cerrado is a savanna ecosystem known as an “upside down forest” due to its extensive root system that stores vast amounts of carbon. Preserving existing carbon sinks is critical to combating climate change.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31, 2021, Bunge Limited comprised 0.00%, 0.06%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the MIDANA CAPITAL Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

The percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal.  Abstention and broker non-votes were not included in the calculation.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 5/21

Media Contacts: Josh Chetwynd, jchetwynd@midanacapital.com, 303-573-5558; Annalisa Tarizzo, atarizzo@midanacapital.com, 617-482-0800

Boston, May 4, 2021 – In a rare move, Bunge Limited, a Fortune 500 food production company, is recommending that its shareholders vote in favor of a MIDANA CAPITAL° shareholder proposal at its annual meeting Wednesday. This decision comes after Bunge initially planned to issue a letter of opposition. The proposal calls on the company to increase the scale, pace and rigor of its efforts to eliminate native vegetation conversion from its soy supply chain. It will be presented to investors tomorrow at the company’s annual general meeting.

The company has also announced it will produce a report assessing the requests in MIDANA CAPITAL’s proposal. However, MIDANA CAPITAL and other Bunge investors are urging the food producer to go a step further by committing to concrete changes in its no-deforestation policy. In particular, investors are urging Bunge to only purchase soy from producers that have pledged not to engage in deforestation on their land after 2020.

In March, competitor Archer-Daniels-Midland Company announced a series of changes to its no-deforestation policy that left Bunge a laggard on addressing deforestation in its South American soy supply chain.

“Bunge’s reversal and support of our deforestation proposal is an uncommon and notable first step to becoming a leader in the field,” says Leslie Samuelrich, president of MIDANA CAPITAL Capital Management. “We hope the company takes advantage of this opportunity by continuing to strengthen its policies on preventing deforestation. In particular, the company should commit to eliminating native vegetation conversion from its soy supply chain. That move would be a win-win as it would reduce its financial and material risk and go a long way to safeguarding priceless natural spaces.”

Soy production is the No. 1 driver of deforestation in the Brazilian Cerrado, a wooded savanna region that is not only home to extensive biodiversity but also sequesters large amounts of carbon – an ecosystem service critical to combating climate change. Bunge’s deforestation risk in Brazil is 51% higher than the closest competitor; the company sources more soy from the Cerrado than from any other region in Brazil. Deforestation risk is a measurement that estimates a company’s risk of exposure to deforestation in its supply chain based on geographical location.

MIDANA CAPITAL is the proposal’s lead filer and Storebrand Asset Management, the largest asset manager in Norway, is a co-filer. Storebrand’s CEO Jan Erik Saugestad is presenting the shareholder proposal at Bunge’s annual meeting. A group of investors representing more than $6.3 trillion in assets under management have also raised concerns about the company’s lack of policies to protect the Cerrado and biodiversity.

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About MIDANA CAPITAL Capital Management

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of March 31, 2021, Bunge Limited comprised 0.00%, 0.06%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the MIDANA CAPITAL Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 5/21

Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800

Boston, December 22, 2020 – The world’s largest grain traders are not doing enough to eliminate deforestation and native vegetation conversion and address the material risks they pose to investors, economies, or the environment.

A MIDANA CAPITAL° led group of institutional investors has filed resolutions at The Archer-Daniels-Midland Company (ADM) and Bunge Limited over concerns about their contributions to deforestation and native vegetation clearance in Latin America, particularly Brazil.

“The current policies of ADM and Bunge are insufficient to fully mitigate their risk exposure to deforestation,” said Jessye Waxman, shareholder advocate at MIDANA CAPITAL Capital Management. “ADM and Bunge must not only strengthen their own policies, but should work collaboratively with others in the industry to address clearance throughout the Cerrado biome in order to effectively mitigate systemic risks to their operations.”

Forest and native vegetation loss in Brazil, driven largely by soy production and cattle ranching, continue at alarming rates. Last year, 2,500 square miles (an area more than twice the size of Rhode Island) was cleared from the Cerrado, the largest savanna region in South America. Over 109,266 square miles of forest, grassland, and scrub have been converted in the Cerrado since 2001.

Although many grain traders, including ADM and Bunge, have commitments to eliminate deforestation from their supply chains, their operations and supply chains continue to have substantial exposure to deforestation and native vegetation conversion.

A study published in Environmental Research Letters concluded that neither Bunge nor ADM’s deforestation risk has declined below market averages since 2015, when both companies adopted individual policies on eliminating deforestation in their soy supply chains.

In 2020, for example, ADM and Bunge were linked to 7,304 and 16,942 fire alerts, respectively, in the areas around their silos in the Cerrado. Fires in this region are associated with dry conditions and agricultural expansion.

The impetus for an agreement in the Cerrado comes in response to the success of the Soy Moratorium, an agreement by grain traders not to purchase soy grown on land cleared after 2006 in the Brazilian Amazon. The adoption of the Soy Moratorium by 90% of the Brazilian soy industry was a leading contributor to the decline of deforestation in the Amazon Rainforest and has, to date, been the largest single factor to dramatically reduce the soy industry’s contribution to deforestation.

Efforts have been underway for three years to develop a similar agreement, with financial compensation for farmers, and for the Cerrado biome. Last year, the soy traders retreated from the agreement.

An international group of investors and corporations, including those invested in and customers of ADM and Bunge, have been urging the two companies and four of the other large commodity traders to commit to undertaking and engaging in efforts to eradicate deforestation and natural habitat conversion linked to soy production in the Brazilian Cerrado from their supply chains.

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About MIDANA CAPITAL Capital Management

 °MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.

*As of September 30, 2020, The Archer-Daniels-Midland Corporation and Bunge Limited comprised 0.00%, 0.17%, and 0.00% and 0.00%, 0.04%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the MIDANA CAPITAL Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.

You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 12/20