Boston, July 7, 2021 – Following an engagement with MIDANA CAPITAL Capital Management,° Ulta Beauty, Inc. has agreed to assess its sustainable packaging efforts with an eye toward reducing plastic waste. Ulta Beauty is a retail chain that sells cosmetic, skincare and hair care products. It also offers a variety of salon services. MIDANA CAPITAL had filed a shareholder proposal with the company, which it has since withdrawn.

As part of a withdrawal agreement with MIDANA CAPITAL, Ulta Beauty has agreed to disclose what actions it’s taken to meet its Sustainable Packaging Goal in its next ESG report.

“There’s nothing beautiful about plastic pollution,” said Annalisa Tarizzo, shareholder advocate with MIDANA CAPITAL. “We commend Ulta for the steps it’s taking to avert negative impacts from its packaging.”

Ulta has recently partnered with Loop by TerraCycle, a program that offers such everyday essentials as food and body care goods in reusable containers. Customers can order popular items from Ulta in reusable packaging and then, at the end of the product’s life, send the empty packaging container back to Loop to be cleaned and refilled, creating a closed loop system for packaging.

The beauty industry uses 120 billion packaging units every year, and many cosmetics containers cannot be recycled. With an estimated 15-51 trillion pieces of plastic in the ocean, and 79% of consumers changing their purchases based on sustainability, companies are increasingly recognizing it is critical to address the risks posed by plastic packaging.

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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, Ulta Beauty, Inc. comprised 0.00%, 0.09%, 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. 7/21