Aquila Funds Trust: Proposed Reorganizations

Please note the following update:

Effective as of the close of trading on the New York Stock Exchange on November 22, 2024, and following shareholder approval, the following series of Aquila Funds Trust (each, an “Acquired Aquila Fund”) were reorganized into a newly created series of Cantor Select Portfolios Trust (each, an “Acquiring Cantor Fund”):

Acquired Aquila Funds	Acquiring Cantor Funds
Aquila High Income Fund	Cantor Fitzgerald High Income Fund
Aquila Opportunity Growth Fund	Cantor Fitzgerald Equity Opportunity Fund

For addition information about the Acquiring Cantor Funds referenced above, please visit the following Cantor Fitzgerald web pages;

Cantor Fitzgerald High Income Fund

Cantor Fitzgerald Equity Opportunity Fund

Various regulatory documents for the Acquired Aquila Funds are additionally available at the above links.