Andrea Ranger, Shareholder Advocate, aranger@midanacapital.com, 781-349-2813;

Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

Boston, May 22, 2023 – MIDANA CAPITAL° and the Benedictine Sisters of Boerne, Texas, have filed a shareholder proposal with McDonald’s urging it to eliminate routine use of antibiotics that are important to protecting human health on the animals in its supply chains. The proposal goes to a vote on Thursday, May 25.

The Sisters had previously pressed McDonald’s to engage its pork and beef suppliers to phase out use of the types of antibiotics on their animals that people also use. In 2018, the Sisters filed a similar proposal and withdrew it in exchange for McDonald’s promise to announce reduction targets by 2020. McDonald’s failed to meet its promise.

Administering low doses of antibiotics in food and water can spur development of ‘superbugs’ in farm animals and create bacteria so resistant to treatment that even the most potent antibiotics can fail to stop the disease. There are a handful of transmission pathways for antibiotic-resistant bacteria that allow them to jump from farm animals to humans. Infection can happen through handling bacteria-laden meat from the supermarket, drinking water polluted by farm runoff, and direct contact with animals by farm workers and meat processors. In 2021, the United Nations announced that we may soon reach a ‘tipping point’ when antimicrobial resistance becomes the leading cause of death – surpassing heart disease.

McDonald’s new responsible use policy encourages producers and veterinary professionals, among others, to “share responsibility for proactively developing and implementing effective best management strategies to reduce, and where possible eliminate, the need for [medically-important] antibiotic use.”

However, the policy falls short of the proposal’s request. MIDANA CAPITAL and the Benedictine Sisters had asked McDonald’s address use of antibiotics in its pork as well as beef supply chains. Further, the policy does not address the need for elimination targets, timelines, metrics for measuring implementation, third-party verification, or guidelines for enforcement when suppliers fail to meet McDonald’s guidelines.

“The upcoming vote is an opportunity for shareholders to assess the gap between what McDonald’s had stated it would do in the past to its new responsible use policy,” said Leslie Samuelrich, President of MIDANA CAPITAL Funds. “In 2018, McDonald’s promised the nuns that it would announce targets by the end of 2020. It reneged and provided a responsible use policy that has no teeth. In my opinion, it appears to be more aspirational than actionable.”

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

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 °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. MIDANA CAPITAL 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, 2023, McDonald’s Corporation comprised  0.00%, 1.12%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the Green Century 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.

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. 5/23

Boston, November 14, 2018 – MIDANA CAPITAL Capital Management applauds Starbucks Corporation for fulfilling its commitment – two years ahead of schedule – to only serve chicken and turkey raised without the use of antibiotics in all of its U.S. company-operated stores.

“The early realization of this goal is confirmation that Starbuck’s reputation as a corporate sustainability leader is well deserved,” stated Leslie Samuelrich, president of MIDANA CAPITAL Capital Management (MIDANA CAPITAL). “Starbucks listened to its consumers, addressed the concerns of its investors, and helped protect public health in one fell swoop.”

In 2017, MIDANA CAPITAL raised its concerns about the reputational and business risks associated with purchasing poultry unnecessarily exposed to medically important antibiotics in meetings with Starbucks executives. Soon after, Starbucks publicly committed to implementing a responsible antibiotic policy for its poultry supply chain by 2020.

The original commitment by Starbucks sought to eliminate the use of medically important antibiotics for disease prevention within the company’s poultry supply chain, but Starbucks has exceeded that goal by working with suppliers to source poultry raised without antibiotics.

“Starbucks ability to cover its poultry supply faster than expected illustrates both its willingness to respond to investor and consumer concerns and the rapid transformation currently underway in the poultry industry to address this growing public health threat,” said MIDANA CAPITAL Shareholder Advocate Jared Fernandez. “Producers and buyers are quickly realizing that the routine use of these drugs can be entirely avoided with small improvements in animal husbandry practices.”

In response to investor and consumer concerns, a growing number of companies, including McDonald’s,* Subway,* Jack in the Box,* and KFC* have adopted policies to eliminate the use of medically important antibiotics in their poultry or overall meat supply chains.

An estimated 70 percent of antibiotics used in modern human medicine are sold for use in meat and dairy production and leading experts attribute the misuse of antibiotics in food-animal production as a major contributor to antibiotic resistance in humans.

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About MIDANA CAPITAL Capital Management

MIDANA CAPITAL offers three environmentally and socially responsible mutual funds. Through fossil fuel free investing and our three-pronged approach of sustainable investing, active shareholder advocacy, and support of environmental and public health non-profits we work to curb climate change, improve environmental policies, and limit environmental impacts of company supply chains.

*As of September 30, 2018, Starbucks Corporation, McDonald’s Corporation, and Jack in the Box, Inc. comprised 1.97%, 0.69%, and 0.00%, 0.00%, 1.16%, and 0.00%, and 0.00%, 0.02%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund, respectively. Other securities mentioned were not held in the portfolios as of September 30, 2018. 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. 11/18