FMI Mutual Funds

Annual Distribution for 2017

INVESTOR CLASS INSTITUTIONAL CLASS TOTAL AUM (MILLIONS)
FMI Large Cap Fund FMIHX (http://www NULL.fiduciarymgt NULL.com/fmifunds/lc/) FMIQX (http://www NULL.fiduciarymgt NULL.com/fmifunds/lc/) $6,478.1
FMI Common Stock Fund FMIMX (http://www NULL.fiduciarymgt NULL.com/fmifunds/cs/) FMIUX (http://www NULL.fiduciarymgt NULL.com/fmifunds/cs/) $1,062.4
FMI International Fund FMIJX (http://www NULL.fiduciarymgt NULL.com/fmifunds/in/) FMIYX (http://www NULL.fiduciarymgt NULL.com/fmifunds/in/) $7,696.4

As of 2/20/2018

FUND INCEPTION DATE NAV PRICE CHANGE DAILY NAV% CHANGE YTD PERFORMANCE
FMIHX (http://www NULL.fiduciarymgt NULL.com/fmifunds/lc/) 12/31/2001 $21.84 -$0.18 -0.82% 1.58%
FMIQX (http://www NULL.fiduciarymgt NULL.com/fmifunds/lc/) 10/31/2016 $21.82 -$0.18 -0.82% 1.63%
FMIMX (http://www NULL.fiduciarymgt NULL.com/fmifunds/cs/) 12/18/1981 $26.54 -$0.19 -0.71% -0.15%
FMIUX (http://www NULL.fiduciarymgt NULL.com/fmifunds/cs/) 10/31/2016 $26.57 -$0.18 -0.67% -0.11%
FMIJX (http://www NULL.fiduciarymgt NULL.com/fmifunds/in/) 12/31/2010 $33.36 -$0.02 -0.06% -1.71%
FMIYX (http://www NULL.fiduciarymgt NULL.com/fmifunds/in/) 10/31/2016 $33.40 -$0.02 -0.06% -1.68%

The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares. Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Annual operating expenses for FMIHX, FMIQX, FMIMX, FMIUX, FMIJX, and FMIYX as of the Prospectus dated 1/31/2018 are as follows: 0.85%, 0.71%, 1.04%, 0.95%, 0.91%, and 0.77%, respectively.

For more information about the FMI Family of Funds, including fees and expenses, call (800) 811-5311 for a free prospectus or summary prospectus (also available from this website). Please read these prospectuses carefully to consider the investment objectives, risks, charges and expenses before investing or sending money. These prospectuses contain this and more information. Please read these prospectuses carefully before investing.

Risks associated with investing in the Funds include: Stock Market Risk, Medium and Large Capitalization Companies Risk, Non-diversification Risk, Value Investing Risk, Foreign Securities Risk, Geographic Concentration Risk, Currency Hedging Risk and Liquidity Risk.