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Money Market

Municipal

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NAV AS OF

NMUXX

FUND LITERATURE

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Summary

IMPORTANT FUND INFORMATION

The Board of Trustees of Northern Institutional Funds (the “Trust”) has determined, after consideration of a number of factors, that it is in the best interests of the Municipal Portfolio (the “Portfolio”) and its shareholders that the Portfolio be liquidated and terminated. The portfolio was liquidated after the close of business on February 12, 2021 pursuant to a plan of liquidation approved by the Board. Please contact the Northern Institutional Funds Center at 800-637-1380 if you have any questions.