Important Risk Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The fund uses exchange traded product based upon the CBOE S&P 500 Volatility Index (VIX) to hedge the portfolio which can limit the opportunity to participate in the gains of portfolio holdings in positive markets. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus. The principal risks of investing in the Navigator Tactical Fixed Income Fund include: equity securities risk, growth stock risk, value stock risk, foreign securities risk, emerging markets risk, small and mid-sized company risk and portfolio selection risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries. Small-cap and mid-cap companies may be more vulnerable than larger, more established organizations to adverse business or economic developments. The Fund invests in exchange traded funds (ETFs) and performance is subject to underlying investment weightings which will vary. ETFs are subject to expenses, which will be indirectly paid by the fund. The cost of investing in a Fund that invests in ETFs will generally be higher than the cost of investing in a Fund that invests directly in individual stocks and bonds. Clark Capital Management Group, Inc. and Northern Lights Distributors, LLC are not affiliated. Exchange traded notes (ETNs) are unsecured obligation of the issuer and are not secured debt. ETNs are riskier than ordinary unsecured debt securities and have no principal protection. ETNs include limited portfolio diversification, trade price fluctuations, uncertain principal repayment, and illiquidity. Investing in the ETNs is not equivalent to investing directly in an index or in any particular index components. The investor fee will reduce the amount of your return at maturity or on redemption, and as a result you may receive less than the principal amount of your investment at maturity or upon redemption of your ETNs even if the level of the relevant index has increased or decreased (as may be applicable to the particular series of ETNs). An investment in an ETNs may not be suitable for all investors. Investing in ETPs based upon VIX futures may be subject to greater volatility than investments in traditional securities, which may adversely affect an investor’s investment. VIX futures indexes are mean reverting; ETPs benchmarked to them should not be expected to appreciate over extended periods.

About the Lipper Award

The Thomson Reuters Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Lipper Fund Award. For more information, see lipperalpha.financial.thomsonreuters.com/lipper Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

Awards and rankings are only one form of performance measurement.

Standard Deviation: A statistical measure of performance fluctuations-generally the higher the standard deviation, the greater the expected volatility of returns. Standard deviation, a historical measure, cannot be used to predict fund performance.

Correlation: A statistical measure of how two securities move in relation to each other.

Beta: Measures a fund’s sensitivity to market movements by comparing a fund’s excess return (over a benchmark) to the market’s excess return. By definition, the beta of the market is 1.00. For example, a beta that is lower than 1.00 would normally indicate that a fund’s excess return is expected to be above the market’s excess return in a down year and below in an up year. However, beta is a measure of historical volatility and cannot predict a fund’s actual volatility.

Before investing, carefully consider the Fund’s investment objectives, risks, charges and expenses. Contact 800.766.2264 for a prospectus containing this and other information. Read it carefully.

Clark Capital Management Group, Inc. and Northern Lights Distributors, LLC are not affiliated.

The Fund’s primary benchmark is the Barclays U.S. Corporate High-Yield Index. The Barclays U.S. Corporate High-Yield Index measures the market of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds. Securities are classified as high yield if the middle rating of Moody’s, Fitch, and S&P is Ba1/BB+/BB+ or below, excluding emerging market debt. The Barclays U.S. Corporate High-Yield Index was created in 1986, with history backfilled to July 1, 1983, and rolls up into the Barclays U.S. Universal and Global High-Yield Indices. The Fund’s secondary benchmark is the Barclays US Aggregate Bond Index. The Barclays US Aggregate Bond Index covers investment grade bonds being traded in United States. It is an unmanaged market value-weighted index for U.S dollar denominated investment-grade fixed-rate debt issues, including government, corporate, asset-backed, and mortgage-backed securities with maturities of at least one year. The Barclays US Aggregate Index was created in 1986 with history backfilled to January 1, 1976.

Terms of Use

The views provided on this Web site are intended to provide the investor with an introduction to Clark Capital Management Group, Inc. and its investment strategies and the Navigator Tactical Fixed Income Fund. Nothing on this website should be construed as a solicitation or offer, or recommendation, to buy or sell any security, or as an offer to provide advisory services by Clark Capital Management Group, Inc. in any jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. Information on this website is intended only for United States citizens and residents. Nothing contained on this website constitutes investment, legal, tax or other advice, nor should be relied upon in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision. Shares in the Navigator Tactical Fixed Income Fund are offered by prospectus only.