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Fixed Income Funds

Performance quoted represents past performance and does not guarantee future results. Investment return will fluctuate. Shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than that shown here. Performance would have been lower in the absence of fee waivers in effect. Select a Fund to view the most recent month-end performance information.

Effective February 1, 2022, the fund's name changed from the Short-Intermediate Tax-Exempt Fund to the Limited Term Tax-Exempt Fund.

††Effective February 1, 2022, the fund's name changed from the Short-Intermediate U.S. Government Fund to the Limited Term U.S. Government Fund.

†††Effective September 13, 2022, the Northern Funds Ultra Short Fixed Income Fund (“Fund”) launched a new share class known as the Siebert Williams Shank Shares Class (“SWS Class”). Prior to September 13, 2022, there were no SWS Class shares outstanding for the Fund and therefore the SEC Yield w/ Waivers and the SEC Yield w/o Waivers information for SWS Class shares is not available. For this reason, the SEC Yield information shown is for the Fund’s Shares Class, with an inception date of June 18, 2009. Please refer to the Fund’s current prospectus for further information.

*Northern Fixed Income Funds include contractual expense reimbursements that if not extended, will end on July 31, 2023.

**Effective September 13, 2022, the Northern Funds Ultra Short Fixed Income Fund (“Fund”) launched a new share class known as the Siebert Williams Shank Shares Class (“SWS Class”). Prior to September 13, 2022, there were no SWS Class shares outstanding for the Fund and therefore performance information for SWS Class shares is not available. For this reason, the performance information shown is for the Fund’s Shares Class, with an inception date of June 18, 2009. The Fund’s SWS Class would have similar annual returns when compared with the Fund’s Shares Class because both classes are invested in the same portfolio of securities. The annual returns of the Shares Class would differ from those of SWS Class only to the extent that the classes do not have the same expenses. Please refer to the Fund’s current prospectus for further information.

Total return is based on net change in NAV, assuming reinvestment of all distributions.

Since-inception returns for funds less than one year old are not annualized.

The 30-day SEC yield w/waivers represents the annualization of the Fund's net investment income, excluding capital gain income and includes contractual expense reimbursements. It would be lower without those reimbursements. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days.

The 30-day SEC yield w/o waivers represents the annualization of the Fund's net investment income, excluding capital gain income and excludes contractual expense reimbursements, resulting in a lower yield. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days.

Not FDIC insured | May lose value | No bank guarantee

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An investment in Northern Funds involves risks, including possible loss of principal.

Please carefully read the summary prospectus or prospectus and consider the investment objectives, risks, charges and expenses of Northern Funds before investing. Call 800-595-9111 to obtain a summary prospectus or prospectus. The summary prospectus and prospectus contain this and other information about the Funds.

Shares of the Northern Funds are offered only by a current Prospectus and are intended solely for persons to whom shares of US registered funds may be sold. This site shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of shares of the Northern Funds in any jurisdiction in which such offer, solicitation or sale would be unlawful.

©2022 Northern Funds | Northern Funds are distributed by Northern Funds Distributors, LLC, not affiliated with Northern Trust.