MIAMI – (COMMERCIAL THREAD) – On September 24, 2021, the Fairholme Focused Income Fund (“FOCIX” or the “Fund”) distributed an ordinary dividend of $ 0.04907 per share to shareholders of record on September 23, 2021. The Net Asset Value (“NAV”) of the Fund has been reduced by the amount of the distribution.

The registration date, ex-dividend date, payment date and cents per share are as follows:

THE FAIRHOLME CENTERED INCOME FUND

Past performance is no guarantee of future results.

The investment objectives, risks, charges and expenses of the Fund should be carefully considered before investing. The prospectus contains this and other important information about the Fund, and it can be obtained by calling Shareholder Services at (866) 202-2263 or by visiting our website www.fairholmefunds.com. Read it carefully before investing.

Investing in the Fund involves risks, including loss of capital. The Fund is an undiversified mutual fund, which means that the Fund invests in a smaller number of securities compared to more diversified funds. This strategy exposes the Fund and its shareholders to a greater risk of loss due to unfavorable developments affecting the portfolio companies. The Fund’s investments are also subject to interest rate risk, which is the risk that the value of a security will fall due to a change in general interest rates. Investments subject to interest rate risk will generally lose value when interest rates rise and increase in value when interest rates fall. In addition, long-dated securities generally experience a more pronounced change in value when interest rates change. Debt securities are subject to credit risk (potential default of the issuer). The Fund may invest without limit in lower rated securities. Compared to higher rated fixed income securities, lower rated debt securities may pose a higher risk of default and higher market volatility.

Foreside Funds Distributors LLC (9/21)