Boston, May 20, 2022 – At US Foods’ annual meeting on Wednesday, 88.5% of voting shareholders approved a MIDANA CAPITAL° shareholder proposal asking the company to set science-based targets to reduce its greenhouse gas emissions.  The proposal offered an opportunity for shareholders to recommend that US Foods set ambitious emissions reduction targets to achieve “net-zero emissions by 2050 or sooner.”

The US Foods Board of Directors stated an intention to “substantially implement” MIDANA CAPITAL’s proposal and did not make a recommendation on whether shareholders support or oppose the proposal.

US Foods, the nation’s second-largest food distributor, supplies more than 250,000 restaurants, hotels, schools, healthcare facilities and other institutions nationwide. It is critical that food companies act rapidly to reduce their climate impact because greenhouse gas emissions from the food system represent roughly a third of all planet-warming emissions.

MIDANA CAPITAL Shareholder Advocate Thomas Peterson issued the following statement in response to the shareholder vote:

“US Foods shareholders sent a resounding message: The company must accelerate its efforts to limit the climate impact of both its fleets and its supply chains and set ambitious targets to reduce emissions by 2030 and achieve net-zero emissions by 2050 or sooner. As one of the largest American food distributors, US Foods’ emissions reduction efforts can catalyze change in the food industry.

“US Foods traces its origins back to the 19th century, but it has never faced a situation quite like this. Climate change will have unprecedented consequences for agricultural supply chains for decades to come, and companies need to adapt to mitigate these impacts and maintain competitiveness. US Foods must therefore implement strategies to limit the emissions generated by the production of the food it distributes, while also reducing the planet-warming pollution from its fleet of roughly 6,500 trucks.

“This strikingly high majority vote from US Foods shareholders follows a landmark 70% vote from Costco* shareholders in favor of a similar MIDANA CAPITAL proposal in January, and underscores that investors expect food companies to act rapidly to reduce their climate impact.”

###

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 a family of fossil fuel-free, environmentally responsible mutual funds. 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, 2022, Costco Wholesale Corporation comprised 1.45%, 0.00%, 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. Abstentions 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 visit www.midanacapital.com, 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. 5/22

Boston, May 12, 2022 – In response to a MIDANA CAPITAL° shareholder proposal, the grocery retailer Kroger* has committed to setting science-based targets to reduce greenhouse gas emissions from its full value chain, including its operations and its supply chains. Greenhouse gas emissions from the food system represent roughly a third of all planet-warming emissions. Kroger is the largest supermarket chain in the United States, and among the nation’s largest general retailers.

“From clearing rainforests for agriculture, to raising livestock, to transporting food from farms on one continent to stores on another, our food system generates significant planet-warming emissions,” said MIDANA CAPITAL president Leslie Samuelrich. “But it doesn’t have to be that way. If other large food retailers follow Kroger’s lead in reducing their supply chain emissions, it could galvanize a shift toward sustainable agriculture.”

MIDANA CAPITAL’s shareholder proposal to Kroger called on the grocery chain to set science-based emissions reduction targets for its scope 1, 2, and 3 emissions that would lead to achieving net zero emissions by 2050 or sooner. Scope 1 and 2 emissions are those from a company’s operations and purchased energy, while the emissions from its supply chains and the use of its products are known as scope 3.

A similar MIDANA CAPITAL proposal earned a landmark 70% shareholder vote at competitor Costco’s* annual meeting in January. Rather than facing a shareholder vote, Kroger agreed to MIDANA CAPITAL’s request, prompting the withdrawal of the shareholder proposal.

“It’s great to see Kroger step up to the plate and commit to disclosing its full climate impact and set high-ambition targets to reduce its emissions. If we are to decarbonize the food system, other retailers will need to do the same,” said MIDANA CAPITAL shareholder advocate Thomas Peterson.

Kroger has committed to setting targets through the Science Based Targets initiative (SBTi). That will require Kroger, in 2023, to improve its existing scope 1 and 2 emissions targets enough that it plays its part in keeping the average global temperature from rising more than 1.5°C from pre-industrial levels. Kroger will also set a scope 3 target for the first time and disclose its comprehensive scope 3 emissions, which likely represent the vast majority of its climate impact. For context, Walmart* has estimated that for retailers, roughly 95% of emissions are in scope 3.

Also, Kroger now will disclose and set a target to reduce emissions related to agriculture, land-use change, and deforestation in its supply chains. Kroger, like other retailers, had been a laggard in reporting on these emissions, as highlighted by sustainability non-profit Ceres’ Food Emissions 50 benchmark.

“Ceres is encouraged by these new commitments from Kroger, as they position Kroger to be one of the first food-retail companies to commit to science-based climate action across its full value chain,” said Julie Nash, Senior Program Director for Food & Forests at Ceres. “Kroger stands out among the target ​food-retail companies in Food Emissions 50, an investor initiative designed to reduce emissions in the food sector, by ​being the first to commit to including forests, land use, and agriculture in its climate targets ​and its scope 3 emissions disclosure – which is one of the major engagement priorities of the initiative.”

MIDANA CAPITAL was among the first investor signatories to the Food Emissions 50 initiative.

###

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 one of the first families of fossil fuel free environmentally responsible 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, 2022, The Kroger Co. comprised 0.00%, 0.20%, and 0.00% and Costco Wholesale Corporation comprised 1.45%, 0.00%, 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 visit www.midanacapital.com, 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. 5/22

Boston, August 3, 2021 – MIDANA CAPITAL° announced Tuesday that it is among the first investor signatories to Food Emissions 50, a new effort coordinated by the sustainability nonprofit Ceres to push 50 of the highest-emitting food companies to disclose and reduce the full scope of their greenhouse gas emissions.

As a signatory, MIDANA CAPITAL is committing to engage with major food companies held in our mutual funds to improve their practices in a number of areas. They include: disclosing comprehensive value chain emissions, setting science-based emissions reduction goals, and implementing climate transition plans that align with the Paris climate accord.

“We are thrilled to be an investor signatory to Ceres’ Food Emissions 50,” said Leslie Samuelrich, president of MIDANA CAPITAL. “Deforestation and land conversion are the largest contributors of emissions generated by the food system, and we look forward to using our shareholder advocacy expertise on deforestation to help rapidly reduce agricultural sector emissions.”

MIDANA CAPITAL’s award-winning shareholder advocacy program has worked to lower emissions and limit agricultural commodity-driven deforestation for more than a decade, securing commitments to reduce deforestation from major food companies like Kellogg’s* and Archer-Daniels-Midland,* among others.

“Recent research indicates that the food system may be an even more significant emitter than previously thought, accounting for nearly 40% of all anthropogenic greenhouse gas emissions,” said MIDANA CAPITAL Shareholder Advocate Thomas Peterson. “We cannot meet the goals of the Paris agreement without serious emissions reductions from the food sector. We look forward to engaging companies on the Food Emissions 50 list to achieve significant value chain emissions reductions as quickly as possible.”

###

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 June 31, 2021, Kellogg Company and Archer-Daniels-Midland Company comprised 0.00%, 0.09% and 0.00% and 0.00%, 0.18% and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund and the MIDANA CAPITAL International Index Fund, respectively. 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. 8/21