Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495 Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, (617) 482-0800

(Boston, October 11) The MIDANA CAPITAL° Equity Fund has filed a shareholder resolution with Deere & Company* asking the company to issue a public report assessing the potential damage to the brand’s reputation from opposing Right to Repair legislation.

Deere, the iconic tractor company, has received significant scrutiny for its opposition to “Right to Repair” laws, which allow farmers to access diagnostic software, parts and instructions to repair their own machinery. A class-action lawsuit filed against Deere by farmers alleges that the company violated antitrust laws by restricting repair to dealerships, which increased company profits while hurting farmers.

Shareholders Concerned That Deere Is Not Doing Enough to Support Right to Repair

Recent polls indicate that an overwhelming 84% of Americans support Right to Repair legislation. In April 2023, Colorado became the first state to enact Right to Repair laws specifically targeting farm equipment. To date, 30 additional states have introduced Right to Repair bills, highlighting the growing momentum behind the issue.

While Deere recently signed a “memorandum of understanding” (MOU) with The American Farm Bureau Federation which would allow farmers to buy access to repair information, the agreement has come under scrutiny. According to the MOU, the Farm Bureau would be restricted from advocating for enforceable legislation, and Deere would be allowed to pull out of the agreement if any legislation is passed.

Deere Opposed Right to Repair on Flimsy Grounds

There are also concerns that in its rush to oppose Right to Repair legislation, Deere may have made misleading statements in federal filings regarding the environmental consequences of repair.

Deere claimed that existing EPA regulations and the Clean Air Act were some of the reasons that it would not give independent repair shops access to its diagnostic tools. In August 2023, however, the EPA issued a statement that it had no policy on restricting owners’ repairs of emissions-related components of their products to properly function.

MIDANA CAPITAL previously filed a shareholder proposal with Deere on the same issue in 2021. Shareholders were unable to vote on the measure as Deere petitioned the U.S. Securities and Exchange Commission (SEC) to exclude the proposal from the ballot. At the time, MIDANA CAPITAL° President Leslie Samuelrich said, “Deere seems to be more focused on stifling shareholder concerns than addressing them. Spending time and energy on an SEC challenge could be put to better use by making their products better serve their customers.”

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About MIDANA CAPITAL Funds

°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 6.30.2023, Deere & Company comprised 0.58%, 0.57%, and 0.00% of 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.

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.

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. September/2023

Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495
Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, (617) 482-0800

(Boston, MA, 2023) – Following shareholder engagement by MIDANA CAPITAL°, Alphabet* announced that it plans to extend software updates for Chromebooks for up to ten years starting in 2024, and that no existing Chromebooks will expire in the next two years. It is estimated the changes in policy could impact up to 120 million computers currently on the market.

The multiple year extension by the parent company of Google* allows schools and families to keep functioning Chromebooks to remain in use, preventing those items from becoming e-waste.

“This is a major win for the environment, schools, and the shareholder advocacy process,” said Douglass Guernsey, a Shareholder Advocate at MIDANA CAPITAL Capital Management. “By extending the life of Chromebooks commonly used in schools, Alphabet is getting ahead of addressing potential risks and making sure hardware using its software can be used for as long as possible.”

MIDANA CAPITAL and Consumer Activists Help Consumers and School Districts

MIDANA CAPITAL discuss risks raised by the “Chromebook Churn” published by PIRG (Public Interest Research Groups) directly with Alphabet management in Summer 2023. Chromebook’s “Auto Update Expiration” date would cause millions of Chromebooks to stop working even if the hardware was still functioning. The report showed that extending the life of Chromebooks could result in $1.8 billion dollars in savings for taxpayers and could save millions of tons of CO2 from entering the atmosphere.

MIDANA CAPITAL has previously engaged Alphabet on improving reparability of its Pixel phones and disclosing details of the company’s carbon offsets. Both previous engagements resulted in changes from management to address environmental concerns.

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About MIDANA CAPITAL Funds

°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 June 30, 2023, Alphabet comprised 2.25%, 6.86%, and 0.00% of 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.

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.

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. 09/2023

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

Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, (617) 482-0800

(Boston, MA) – In a positive development for the Right to Repair movement, technology giant Apple Inc* announced it would expand its Self Service Repair program to its newest iPhone 14 and M2 Mac models. The company’s continued commitment is a win for consumer rights and efforts to combat e-waste and came after MIDANA CAPITAL Funds°, a leading environmentally responsible family of mutual funds, advocated for increasing sustainable business practices at the company.

MIDANA CAPITAL initiated discussions with Apple in 2021 and submitted a shareholder proposal later that year asking the company to consider the environmental and social benefits of making its devices more easily repairable by consumers and independent repair shops.

MIDANA CAPITAL Advocacy Creates Long Term Impact for the Environment

Through a series of collaborative meetings, MIDANA CAPITAL provided Apple with compelling evidence on the positive environmental implications of allowing customers to repair instead of replacing their products. Repairs extend the life of products, help reduce electronic and plastic waste, promote a more circular economy, and aligns Apple’s policy on the issue with its own sustainability goals and commitments.

MIDANA CAPITAL’s efforts helped to culminate in Apple announcing for the first time in 2021 that it would provide consumers access to replacement parts, tools and repair manuals needed to perform common repairs to its products. MIDANA CAPITAL withdrew its shareholder proposal in return for Apple’s commitments.

“True to its slogan, Apple is “Thinking Different” by helping to reduce electronic waste and helping customers hold on to their products longer. MIDANA CAPITAL is proud to have played a role in Apple’s evolving support for Right to Repair and hope that their leadership moves its competitors to follow suit,” said Leslie Samuelrich, President of MIDANA CAPITAL Funds.

Apple and other technology companies traditionally have lobbied against Right to Repair legislation, so the announcement of its expanded repair commitments carries substantial weight in industry discussions. Americans spend around $1,700 per household a year purchasing new electronic devices, and nearly 7 million tons of American toxic e-waste end up in landfills each year.

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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About MIDANA CAPITAL Funds

°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, Apple, Inc. comprised 5.14%, 0.00%, 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.

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.

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. 6/23

Boston, May 16, 2022 –Deere & Company, the manufacturer of the iconic John Deere tractor and a wide array of other agriculture equipment, relented on its anti-right-to-repair stance. Acknowledging its “customers’ desire for more autonomy in managing their equipment,” Deere announced in March that it would provide a better repair process by improving remote mobile access to equipment and the ability to download software updates on certain equipment.

MIDANA CAPITAL° had filed a shareholder proposal with Deere in September, asking it to account for its anti-competitive repair policies. Shortly after, the company requested that the Securities and Exchange Commission dismiss the resolution, rather than allow its shareholders to vote on the matter. Deere argued to the SEC it had already addressed the request of the resolution by publicly stating its right to repair policies.   

MIDANA CAPITAL President Leslie Samuelrich reacted to the news by saying, “Deere is improving its repair support in response to the tidal wave of pressure from farmers, independent mechanics, investors, lawmakers, regulators, advocacy groups, and customers, a number of whom are taking it to court. However, Deere did not follow through on its previous commitment, so we need to be vigilant.”

Pressure mounting on Deere to address right to repair

Deere has been under increasing pressure from advocacy organizations, such as U.S. PIRG,  to provide the tools and software needed to fix its tractors and combines. Pressure has also been mounting in capitals across the country: The “Agricultural Right to Repair Act” was introduced in the U.S. Senate in February and  34 state legislatures have considered right to repair bills in recent years.  In addition, farmers from seven different states have filed lawsuits in federal court claiming that Deere has monopolized the market for repair and maintenance of its equipment. Deere has disputed that claim.  

“For Deere, it’s a classic case of you reap what you sow. Deere has been pushing the limits of its customers’ patience, and farmers need affordable and timely repairs,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “I hope that Deere’s new repair policies will mend fences with farmers and other customers, but that remains to be seen.”

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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 a family of fossil fuel free, environmentally 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, 2022, Deere & Company comprised 0.86%, 060%, 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 Funds’ 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.

The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 5/22

Boston, April 27, 2022 – Apple officially launched its long-awaited Self-Service Repair program Wednesday, five months after announcing the program at the prompting of a MIDANA CAPITAL shareholder proposal. U.S.-based consumers can now access repair manuals and purchase more than 200 parts and tools for fixing iPhone 12, 13, and SE 3 models.

The announcement of the program was a reversal in course for Apple, which has historically opposed the Right to Repair. While there are promising aspects, particularly the free availability of repair manuals, investors have remaining concerns about how the program will be run and how Apple is still maintaining tight control over the repair of its products.

Unlike similar initiatives announced by Google and Samsung, Apple is requiring consumers to pair replacement parts to the serial number of the device being repaired. This will continue to make it difficult for independent repair shops to perform iPhone repairs and will pose challenges to refurbishers who want to repair phones after Apple stops officially supporting the model. As noted by repair organization iFixit, this “essentially puts an expiration date on iPhones.”

Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL Capital Management,° released the following statement:

“The launch of Apple’s repair program today is a promising step forward for the company and should provide some comfort to investors that Apple is working to mitigate the regulatory risks posed by potential Right to Repair regulations from the Federal Trade Commission and state legislatures.

“However, this program does not sufficiently address our concerns related to the reputational and environmental risks posed by the electronic waste and greenhouse gas emissions associated with premature device disposal. Apple should take steps to eliminate the ‘parts pairing’ element of the program to ensure company devices can reach their full lifespan potential.”

###

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, 2022, Apple Inc. comprised 5.70%, 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.

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.

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. 5/22

Media Release Contact: Josh Chetwynd, jchetwynd@midanacapital.com, 303-573-5558; Annalisa Tarizzo, atarizzo@midanacapital.com, (781) 349-2789

Boston, April 12, 2022 — MIDANA CAPITAL is withdrawing a shareholder proposal with Google parent Alphabet as the company announced on Friday that it will begin selling genuine Pixel phone parts to independent repair shops and consumers. MIDANA CAPITAL’s proposal urged Alphabet to make repairing its products more accessible to consumers and independent repair shops.

“We’re glad to see Google join the Right to Repair movement and catch up with its industry peers by announcing this new initiative,” said MIDANA CAPITAL Capital Management President Leslie Samuelrich. “Today’s announcement underscores consumer demand for repair options, the wave of change in the tech industry around product repair, and the power of shareholders.” 

The replacement parts will be available for sale through iFixit, an online repair guide provider and Right to Repair advocate, and will cover models from the Pixel 2 through the Pixel 6 Pro, as well as future models. The announcement is a striking reversal for the company, which has long lobbied against Right to Repair reforms and employed policies that make repairing its products difficult.

“Access to spare parts is a critical component of Right to Repair,” Samuelrich said. “It helps companies like Alphabet mitigate risk by keeping electronic waste from smartphones out of the landfill, fulfilling consumer expectations for more repair options, and preparing for potential regulatory requirements at both the state and federal level, especially in light of the Federal Trade Commission’s recent statements on this issue.”

Alphabet’s announcement comes in the wake of similar ones made in the last year by Apple,* Microsoft,* and Samsung,* which have all committed to increasing repair accessibility for the devices they sell. Apple’s announcement was similarly prompted by a MIDANA CAPITAL shareholder proposal.

Making replacement parts more widely available is key to the Right to Repair and provides numerous environmental benefits by keeping devices in use for longer periods of time, such as reducing toxic electronic waste and greenhouse gas emissions associated with the manufacturing process.

“This is a positive development, and we encourage the company to expand its spare part offerings to all of its devices, including for its Nest Thermostats, and making a formal commitment to stop lobbying against Right to Repair reforms,” Samuelrich said.

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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 December 31, 2021, Alphabet, Inc. comprised 4.32%, 7.83%, and 0.00%; Apple, Inc. comprised 5.56%, 0.00%, and 0.00%; Microsoft comprised 4.07%, 11.01%, 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.

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.

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. 4/22

Boston, March 24, 2022 – MIDANA CAPITAL° has withdrawn a shareholder proposal with Dell Technologies after the company published a position statement that outlines its approach to product repair and circular design. In an accompanying blog post, the company highlights its definition of repairability and notes its longstanding support of its “customers’ choice to repair their own device.”

While Dell has long provided customers and independent repair shops with access to such repair resources as manuals and replacement parts, the company had never directly articulated its support for product repair choices. Given the growing momentum of the Right to Repair movement and increasing attention from regulators and legislators on the issue of manufacturers restricting repair to their own authorized servicers, investors wanted assurance that Dell is prepared to continue its industry-leading efforts to make product repair accessible.

“We are pleased to see Dell take a more explicit position on its efforts to enable product repair,” said Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL. “We believe that remaining actively engaged in the Right to Repair conversation is critical for technology companies, from both a reputational and a regulatory perspective.”

In the last year, Right to Repair legislation has been introduced in 27 states and in the U.S. Congress. In July, President Joe Biden signed an executive order directing the Federal Trade Commission to develop rules on “unfair anticompetitive restrictions on third-party repair.”

Although the company leads industry peers like Apple* and Alphabet’s* Google on repair accessibility, investors remain concerned about Dell’s affiliation with industry trade groups such as TechNet and the Consumer Technology Association, which routinely lobby against Right to Repair reforms.

“Even industry leaders have room for improvement,” Tarizzo added. “We urge Dell to distance itself from trade groups whose lobbying activities run counter to its position on product repair.”

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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 December 31, 2021, Alphabet, Inc. comprised 4.32%, 7.83%, and 0.00%; Apple, Inc. comprised 5.56%, 0.00%, and 0.00%; Dell Technologies, Inc. comprised 0.00%, 0.07%, 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.

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.

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. 3/22

Boston, January 3, 2022 – MIDANA CAPITAL° has filed a shareholder proposal with Alphabet Inc., the parent company of Google, urging the technology giant to make its devices more easily repairable by consumers and independent repair shops.

Although thrown away electronics is the fastest growing waste stream globally, repair options that would extend the lifespan of devices are limited. Google does not address the repairability of its devices when assessing their environmental impact. The company has also been known to lobby against legislation that would expand repair access.

“Given the current regulatory landscape and growing interest from consumers, any company in the technology industry that is not embracing repair exposes itself to significant risk,” said Leslie Samuelrich, president of MIDANA CAPITAL Capital Management.

The Federal Trade Commission has said it will begin investigating companies thought to be illegally restricting repair access, and 27 states have considered repair legislation in the last year.

The proposal is the second filed by MIDANA CAPITAL this year aimed at reducing electronic waste and greenhouse gas emissions associated with the electronics industry. The first was filed with Apple* and was withdrawn after the company announced a new DIY repair program, which will provide consumers with the resources necessary to perform common repairs to certain phone and laptop models. Microsoft* also announced in October that it will increase consumer options for device repair by the end of next year.

“We urge Google to follow in the footsteps of industry peers like Apple and Microsoft and stop restricting repair,” Samuelrich added.

###

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, 2021, Alphabet Inc. Class A comprised 2.79%, 4.13%, and 0.00%; Alphabet Inc. Class C comprised 0.00%, 3.98%, and 0.00%; Apple Inc. comprised 3.01%, 0.00%, and 0.00%; and Microsoft comprised 2.94%, 10.35%, 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. 12/21

Boston, December 6, 2021 –MIDANA CAPITAL Capital Management

Deere & Co., which produces both the John Deere tractor and a wide array of agriculture equipment, petitioned the U.S. Securities & Exchange Commission (SEC) to exclude an important MIDANA CAPITAL Capital Management° right-to-repair proposal from its annual general shareholder meeting ballot in the spring.

Citing previous SEC rulings, Deere argued to the SEC that it had already technically met the terms of the right-to-repair shareholder proposal. Although in MIDANA CAPITAL’s opinion, Deere didn’t address the spirit of the proposal and should invite Deere’s shareholders to review the issue. “Deere seems to be more focused on stifling shareholder concerns than addressing them,” stated MIDANA CAPITAL President Leslie Samuelrich.  “Spending time and energy on an SEC challenge could be put to better use by making their products better serve their customers,” stated Samuelrich.

After meeting with Deere officials in August, MIDANA CAPITAL decided to file a shareholder proposal due to unsatisfactory explanations about the anti-competitive nature of its repair policies. In the proposal, MIDANA CAPITAL asked Deere to provide transparency into its business strategies regarding the restriction of repair materials. This is necessary, because to do otherwise, may expose the company to financial, legal and reputational risks.

“We filed our resolution because we have questions about Deere’s approach to repair that haven’t been clearly addressed,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “There is now a tsunami of right-to-repair legislation, potential action by the Federal Trade Commission on restrictive repair practices, a presidential order that specifically calls out concerns about tractor repair, and mounting bad press facing Deere. As investors, that’s a great deal of risk for us to take on.”

Deere repeatedly cites the statistic that farmers and independent mechanics are able to make 98% of their needed repairs themselves, making the case that Deere-authorized technicians are only necessary for 2% of problems.

“Deere claims the reason it maintains absolute control over 2% of all repairs is due to environmental and safety concerns,” Ranger said. “If that’s true, then why are multiple states and the federal government still looking for more repair access? It doesn’t add up.” 

MIDANA CAPITAL recognizes the value of Deere having its own technicians, but Deere’s current model is bad for business, investors and consumers.

“No one is asking Deere to give up its trade secrets or quit its repair business,” said MIDANA CAPITAL President Leslie Samuelrich. “We’re merely calling on the company to proactively adjust its business strategies and adapt to the reality that the right-to-repair movement is very likely here to stay.”

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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 one of the first families of fossil fuel free 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, 2021, Deere & Co. comprised 0.71%, 0.51% 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. 12/21

Boston, November 19, 2021 – On the same day that MIDANA CAPITAL Capital Management° had to make a decision on whether to press forward on a right-to-repair shareholder proposal, Apple introduced a new program on Wednesday that will provide individual consumers access to replacement parts, tools and repair manuals needed to perform common repairs to its products. The program will launch early next year in the United States with the iPhone 12 and 13 lineups. They will then follow with Mac computers with M1 chips.

Following the announcement, MIDANA CAPITAL is withdrawing its shareholder proposal that urged the company to improve its product repair policies.

Apple has historically resisted allowing consumers and independent repair shops to perform repairs and has vigorously lobbied against legislation that would require them to allow others to fix their products. As a result, the announcement is a notable reversal for the company.

The company had filed a no-action request with the Securities and Exchange Commission in October with the goal of blocking MIDANA CAPITAL’s repair-focused proposal from being voted on by Apple shareholders. After the SEC released new guidance earlier this month that allows investors to file stronger shareholder proposals, the chance of Apple succeeding in blocking MIDANA CAPITAL’s proposal decreased significantly.

Over the last year, state governments, Congress, and the Federal Trade Commission have all taken note of the restrictive nature of many technology companies’ policies on repair. Increased access to repair is also seen as an essential component to making the electronics industry more sustainable. Since the majority of the greenhouse gas emissions from a single device are created during the production process, repairing devices to keep them in use longer can have a significant climate benefit and prevent waste.

Annalisa Tarizzo, MIDANA CAPITAL Capital Management shareholder advocate, released the following statement:

“This is an unexpected but welcome step from Apple. It’s also a significant reversal from the position the company had taken when we filed our shareholder resolution. The timing of the announcement is certainly no coincidence, given that today was our deadline for responding to the company’s no-action request.

“We’re hopeful that this announcement signals the beginning of the end to Apple’s unwarranted opposition to expanding repair access for consumers. By making this important change, it will help the company mitigate the regulatory risk it was facing from Congress and the FTC.”

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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, 2021, Apple Inc. comprised 3.01%, 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 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. 11/21