BNY Mellon ARX Brazil Fund,

SPC - Long/Short Class

Fund Investment Objectives

The principal objective for the Long Short Shares is to seek constant capital appreciation from relative value, event-driven and directional long or short positions in equities. The Fund, on behalf of the Long Short Segregated Portfolio, will trade primarily, but not limited to, Brazilian equities listed on the Sao Paulo Stock Exchange (BOVESPA) or other international exchanges, short positions in the index future contracts listed on The Brazilian Mercantile & Futures Exchange (BM&F) and other index futures listed on other exchanges, and/or in equity short-selling. Equity selection is solely done on a fundamental basis and all the investments in BOVESPA and/or BM&F will be made through official stock brokers. Redemption: Monthly by the 10th business day of a given month.