The Fund invests substantially all of its assets in the common stocks which make up the MSCI KLD 400 Social ex Fossil Fuels Index (the KLD400 ex Fossil Fuels Index or the Index), a custom index calculated by MSCI, Inc. The KLD400 ex Fossil Fuels Index is comprised of the common stocks of the approximately 400 companies in the MSCI KLD 400 Social Index (the KLD400 Index), minus the stocks of the companies that:

Companies included in the KLD400 Index are identified based on a review of ESG ratings; the KLD400 Index is composed of companies with what MSCI calculates to have high ESG ratings.

MSCI ESG Research’s process in constructing the KLD400 Index includes the identification of the following key ESG issues by industry; measuring a company’s risk exposure for each key issue; and measuring a company’s risk management for each key issue:

Companies that MSCI ESG Research has determined to have significant business involvement in the following will not be included in the KLD400 Index:

Green Century believes that those companies which seek to manage their ESG risk may be better prepared to avoid reputational, competitive, regulatory and material risks and may benefit financially as a result.

The Fund buys and sells stocks so that the composition of its securities holdings will correspond, to the extent reasonably practicable, to the composition of securities in the KLD400 ex Fossil Fuels Index. The weightings of the stocks in the KLD400 ex Fossil Fuels Index are based on float-adjusted market capitalizations, which means the largest companies comprise a higher percentage of the KLD400 ex Fossil Fuels Index and the Index is more heavily weighted in large than in small companies. As of September 30, 2023, large-cap U.S. companies (defined as companies with market capitalizations of over $10 billion) represented approximately 97.4% of the market value of the investments of the Fund. To the extent practicable, the Fund will seek a correlation between the weightings of securities held by the Fund and the weightings of the securities of the KLD400 ex Fossil Fuels Index of 0.95 or better. A figure of 1.00 would indicate a perfect correlation. The Fund’s ability to duplicate the performance of the KLD400 ex Fossil Fuels Index will depend to some extent on the size and timing of cash flows into and out of the Fund as well as the Fund’s expenses. The Fund may be required to deviate its investments from the securities and relative weightings of the Index to comply with certain regulatory limitations, including diversification requirements under the 1940 Act and the Internal Revenue Code of 1986, as amended.

Under normal circumstances and as a matter of operating policy, the Fund will invest at least 80% of its assets in equity securities and related investments.