Distributions - Impax Asset Management

High Yield Bond Fund Dividends | Core Bond Fund Dividends | Inactive Funds Distributions

December 2023 Estimated Ranges for Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 20, 2023. The ex-dividend and reinvestment date is December 21, 2023. The payment date is December 22, 2023.

The record date for distributions for the Impax Sustainable Allocation Fund is December 26, 2023. The ex-dividend and reinvestment date is December 27, 2023. The payment date is December 30, 2023.

These per share values are estimated based on the Funds’ outstanding shares as of an earlier date. The actual per share value will be determined by the outstanding shares as of December 20, 2023 (for the Sustainable Allocation Fund December 26, 2023). These estimates are provided for informational purposes and do not constitute a guarantee that the Funds will distribute these estimated per share values.

FUND/CLASS	TICKER	DIVIDEND RANGE	SHORT-TERM CAP. GAIN RANGE	LONG-TERM CAP. GAIN RANGE

Impax Large Cap Fund - Investor Class	PAXLX	$0.01-$0.10	$0.00-$0.05	$0.40-$0.50
Impax Large Cap Fund - Institutional Class	PXLIX	$0.01-$0.10	$0.00-$0.05	$0.40-$0.50

Impax Small Cap Fund - Investor Class	PXSCX	None	None	None
Impax Small Cap Fund - Institutional Class	PXSIX	None	None	None
Impax Small Cap Fund - Class A	PXSAX	None	None	None

Impax US Sustainable Economy Fund - Investor Class	PXWGX	$0.20-$0.30	$0.01-$0.10	$0.85-$1.00
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	$0.20-$0.30	$0.01-$0.10	$0.85-$1.00
Impax US Sustainable Economy Fund - Class A	PXGAX	$0.20-$0.30	$0.01-$0.10	$0.85-$1.00

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	$0.05-$0.15	None	None
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	$0.05-$0.15	None	None

Impax Global Opportunities Fund - Investor Class	PAXGX	None	None	None
Impax Global Opportunities Fund - Institutional Class	PXGOX	None	None	None

Impax Global Environmental Markets Fund - Investor Class	PGRNX	None	None	None
Impax Global Environmental Markets Fund - Institutional Class	PGINX	None	None	None
Impax Global Environmental Markets Fund - Class A	PXEAX	None	None	None

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	None	None	None
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	None	None	None

Impax International Sustainable Economy Fund - Investor Class	PXINX	$0.01-$0.10	None	None
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	$0.01-$0.10	None	None

Impax Core Bond Fund - Investor Class	PAXBX	N/A	None	None
Impax Core Bond Fund -Institutional Class	PXBIX	N/A	None	None

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A	None	None
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None

Impax Sustainable Allocation Fund - Investor Class	PAXWX	None	$0.01-$0.10	$0.15-$0.25
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	None	$0.01-$0.10	$0.15-$0.25

June 2023 Fund Distributions

The record date for the distributions for all Funds excluding the Impax Sustainable Allocation Fund is June 21, 2023. The ex-dividend and reinvestment date is June 22, 2023. The payment date is June 23, 2023.

The record date for the Impax Sustainable Allocation Fund is June 26, 2023. The ex-dividend and reinvestment date is June 27, 2023. The payment date is June 28, 2023.

FUND NAME	TICKER	ORDINARY INCOME
Impax Large Cap Fund - Investor Class	PAXLX	0.040509
Impax Large Cap Fund - Institutional Class	PXLIX	0.055592

Impax Small Cap Fund - Investor Class	PXSCX	None
Impax Small Cap Fund - Institutional Class	PXSIX	None
Impax Small Cap Fund - Class A	PXSAX	None

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.104753
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.129334
Impax US Sustainable Economy Fund - Class A	PXGAX	0.105718

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.107974
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.118832

Impax Global Opportunities Fund - Investor Class	PAXGX	0.033325
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.049306

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.143231
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.168633
Impax Global Environmental Markets Fund - Class A	PXEAX	0.143783

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.506341
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.540827

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.154476
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.166027

Impax Core Bond Fund - Investor Class	PAXBX	N/A
Impax Core Bond Fund - Institutional Class	PXBIX	N/A

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A
Impax High Yield Bond Fund - Class A	PXHAX	N/A

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.343513
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.372853

December 2022 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 21, 2022. The ex-dividend and reinvestment date is December 22, 2022. The payment date is December 23, 2022.

The record date for the distributions for the Impax Sustainable Allocation Fund is December 27, 2022. The ex-dividend and reinvestment date is December 28, 2022. The payment date is December 29, 2022.

FUND NAME	TICKER	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Large Cap Fund - Investor Class	PAXLX	0.049216	0.09556	0.16482	0.26038
Impax Large Cap Fund - Institutional Class	PXLIX	0.06433	0.09556	0.16482	0.26038

Impax Small Cap Fund - Investor Class	PXSCX	None	0.04536	0.30212	0.34748
Impax Small Cap Fund - Institutional Class	PXSIX	0.00162	0.04536	0.30212	0.34748
Impax Small Cap Fund - Class A	PXSAX	None	0.04536	0.30212	0.34748

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.305278	0.04836	1.01344	1.0618
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.333746	0.04836	1.01344	1.0618
Impax US Sustainable Economy Fund - Class A	PXGAX	0.306646	0.04836	1.01344	1.0618

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.091754	None	None	None
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.103175	None	None	None

Impax Global Opportunities Fund - Investor Class	PAXGX	None	0.02513	0.15231	0.17744
Impax Global Opportunities Fund - Institutional Class	PXGOX	None	0.02513	0.15231	0.17744

Impax Global Environmental Markets Fund - Investor Class	PGRNX	None	0.00855	0.05629	0.06484
Impax Global Environmental Markets Fund - Institutional Class	PGINX	None	0.00855	0.05629	0.06484
Impax Global Environmental Markets Fund - Class A	PXEAX	None	0.00855	0.05629	0.06484

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	None	None	0.61378	0.61378
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	None	None	0.61378	0.61378

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.062378	None	None	None
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.073484	None	None	None

Impax Core Bond Fund - Investor Class	PAXBX	N/A	None	None	None
Impax Core Bond Fund - Institutional Class	PXBIX	N/A	None	None	None

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.059384	0.48113	0.65176	1.13289
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.091819	0.48113	0.65176	1.13289

June 2022 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is June 21, 2022. The ex-dividend and reinvestment date is June 22, 2022. The payment date is June 23, 2022.

The record date for the distributions for the Impax Sustainable Allocation Fund is June 27, 2022. The ex-dividend and reinvestment date is June 28, 2022. The payment date is June 29, 2022.

FUND NAME	TICKER	ORDINARY INCOME
Impax Large Cap Fund - Investor Class	PAXLX	0.02643
Impax Large Cap Fund - Institutional Class	PXLIX	0.042382

Impax Small Cap Fund - Investor Class	PXSCX	None
Impax Small Cap Fund - Institutional Class	PXSIX	0.015414
Impax Small Cap Fund - Class A	PXSAX	None

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.103268
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.1308
Impax US Sustainable Economy Fund - Class A	PXGAX	0.103686

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.120103
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.130264

Impax Global Opportunities Fund - Investor Class	PAXGX	0.030425
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.047112

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.037064
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.062315
Impax Global Environmental Markets Fund - Class A	PXEAX	0.037629

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.237874
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.27524

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.142712
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.154111

Impax Core Bond Fund - Investor Class	PAXBX	N/A
Impax Core Bond Fund - Institutional Class	PXBIX	N/A

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A
Impax High Yield Bond Fund - Class A	PXHAX	N/A

Impax Sustainable Allocation Fund - Insvestor Class	PAXWX	0.230027
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.263155

December 2021 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 21, 2021. The ex-dividend and reinvestment date is December 22, 2021. The payment date is December 23, 2021.

The record date for distributions for the Impax Sustainable Allocation Fund is December 27, 2021. The ex-dividend and reinvestment date is December 28, 2021. The payment date is December 29, 2021.

FUND NAME	TICKER	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Large Cap Fund - Investor Class	PAXLX	0.014203	0.46487	0.36149	0.82636
Impax Large Cap Fund - Institutional Class	PXLIX	0.032435	0.46487	0.36149	0.82636

Impax Small Cap Fund - Investor Class	PXSCX	0.019259	0.65098	1.10808	1.75906
Impax Small Cap Fund - Institutional Class	PXSIX	0.045185	0.65098	1.10808	1.75906
Impax Small Cap Fund - Class A	PXSAX	0.021022	0.65098	1.10808	1.75906

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.083093	1.55381	3.77236	5.32617
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.121515	1.55381	3.77236	5.32617
Impax US Sustainable Economy Fund - Class A	PXGAX	0.08563	1.55381	3.77236	5.32617

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.10779	0.97252	4.65758	5.6301
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.127786	0.97252	4.65758	5.6301

Impax Global Opportunities Fund - Investor Class	PAXGX	None	0.19259	0.11267	0.30526
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.001686	0.19259	0.11267	0.30526

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.098098	0.12556	0.22316	0.34872
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.13001	0.12556	0.22316	0.34872
Impax Global Environmental Markets Fund - Class A	PXEAX	0.098743	0.12556	0.22316	0.34872

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.193427	None	None	None
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.238694	None	None	None

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.063313	0.07143	0.17446	0.24589
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.077826	0.07143	0.17446	0.24589

Impax Core Bond Fund - Investor Class	PAXBX	N/A	None	0.01688	0.01688
Impax Core Bond Fund - Institutional Class	PXBIX	N/A	None	0.01688	0.01688

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.023939	0.33256	0.83776	1.17032
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.059190	0.33256	0.83776	1.17032

June 2021 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is June 21, 2021. The ex-dividend and reinvestment date is June 22, 2021. The payment date is June 23, 2021.

The record date for distributions for the Impax Sustainable Allocation Fund is June 25, 2021. the ex-dividend and reinvestment date is June 28, 2021. The payment date is June 29, 2021.

FUND NAME	TICKER	ORDINARY INCOME
Impax Large Cap Fund - Investor Class	PAXLX	0.018379
Impax Large Cap Fund - Institutional Class	PXLIX	0.030301

Impax Small Cap Fund - Investor Class	PXSCX	0.018132
Impax Small Cap Fund - Institutional Class	PXSIX	0.040619
Impax Small Cap Fund - Class A	PXSAX	0.01825

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.113645
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.1449
Impax US Sustainable Economy Fund - Class A	PXGAX	0.11544

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.2154
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.231814

Impax Global Opportunities Fund - Investor Class	PAXGX	None
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.01219

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.028011
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.054374
Impax Global Environmental Markets Fund - Class A	PXEAX	0.028618

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.233048
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.27044

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.168291
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.181018

Impax Core Bond Fund - Investor Class	PAXBX	N/A
Impax Core Bond Fund - Institutional Class	PXBIX	N/A

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A
Impax High Yield Bond Fund - Class A	PXHAX	N/A

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.21029
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.245002

December 2020 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 21, 2020. The ex-dividend and reinvestment date is December 22, 2020. The payment date is December 23, 2020.

The record date for distributions for the Impax Sustainable Allocation Fund is December 28, 2020. The ex-dividend and reinvestment date is December 29, 2020. The payment date is December 30, 2020.

FUND NAME	TICKER	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Large Cap Fund - Investor Class	PAXLX	0.026267	0.12749	0.60561	0.7331
Impax Large Cap Fund - Institutional Class	PXLIX	0.039431	0.12749	0.60561	0.7331

Impax Small Cap Fund - Investor Class	PXSCX	None	0.44544	0.16543	0.61087
Impax Small Cap Fund - Institutional Class	PXSIX	None	0.44544	0.16543	0.61087
Impax Small Cap Fund - Class A	PXSAX	None	0.44544	0.16543	0.61087

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.085932	None	0.23947	0.23947
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.115344	None	0.23947	0.23947
Impax US Sustainable Economy Fund - Class A	PXGAX	0.086138	None	0.23947	0.23947

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.10809	None	0.19486	0.19486
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.123853	None	0.19486	0.19486

Impax Global Opportunities Fund - Investor Class	PAXGX	None	0.11728	None	0.11728
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.012729	0.11728	None	0.11728

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.028697	None	None	None
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.053261	None	None	None
Impax Global Environmental Markets Fund - Class A	PXEAX	0.02959	None	None	None

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.154714	None	None	None
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.19126	None	None	None

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.068743	None	None	None
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.081288	None	None	None

Impax Core Bond Fund - Investor Class	PAXBX	N/A	0.14576	0.09752	0.24328
Impax Core Bond Fund - Institutional Class	PXBIX	N/A	0.14576	0.09752	0.24328

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.014613	0.03917	0.43977	0.47894
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.047076	0.03917	0.43977	0.47894

June 2020 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is June 19, 2020. The ex-dividend and reinvestment date is June 22, 2020. The payment date is June 23, 2020.

The record date for distributions for the Impax Sustainable Allocation Fund is June 25, 2020. the ex-dividend and reinvestment date is June 26, 2020. The payment date is June 29, 2020.

Fund Name	Ticker	Ordinary Income
Impax Large Cap Fund - Investor Class	PAXLX	0.041981
Impax Large Cap Fund - Institutional Class	PXLIX	0.047262

Impax Small Cap Fund - Investor Class	PXSCX	None
Impax Small Cap Fund - Institutional Class	PXSIX	None
Impax Small Cap Fund - Class A	PXSAX	None

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.130591
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.154292
Impax US Sustainable Economy Fund - Class A	PXGAX	0.129619

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.104856
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.118492

Impax Global Opportunities Fund - Investor Class	PAXGX	None
Impax Global Opportunities Fund - Institutional Class	PXGOX	None

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.05525
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.073805
Impax Global Environmental Markets Fund - Class A	PXEAX	0.055056

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.160179
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.189759

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.092808
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.103196

Impax Core Bond Fund - Investor Class	PAXBX	N/A
Impax Core Bond Fund - Institutional Class	PXBIX	N/A

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A
Impax High Yield Bond Fund - Class A	PXHAX	N/A

Impax Sustainable Allocation Fund- Investor Class	PAXWX	0.244501
Impax Sustainable Allocation Fund- Institutional Class	PAXIX	0.272505

December 2019 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 19, 2019. The ex-dividend and reinvestment date is December 20, 2019. The payment date is December 23, 2019.

The record date for distributions for the Impax Sustainable Allocation Fund is December 26, 2019. The ex-dividend and reinvestment date is December 27, 2019. The payment date is December 30, 2019.

FUND NAME	TICKER	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Large Cap Fund - Investor Class	PAXLX	0.03152	0.03495	0.26006	0.29501
Impax Large Cap Fund - Institutional Class	PXLIX	0.043167	0.03495	0.26006	0.29501

Impax Small Cap Fund - Investor Class	PXSCX	None	None	None	None
Impax Small Cap Fund - Institutional Class	PXSIX	None	None	None	None
Impax Small Cap Fund - Class A	PXSAX	None	None	None	None

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.129431	None	0.43756	0.43756
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.15733	None	0.43756	0.43756
Impax US Sustainable Economy Fund - Class A	PXGAX	0.129781	None	0.43756	0.43756

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.13187	None	0.35244	0.35244
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.14781	None	0.35244	0.35244

Impax Global Opportunities Fund - Investor Class	PAXGX	0.000897	0.08896	0.09261	0.18157
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.013802	0.08896	0.09261	0.18157

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.025114	None	None	None
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.044658	None	None	None
Impax Global Environmental Markets Fund - Class A	PXEAX	0.023434	None	None	None

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.139854	None	0.37567	0.37567
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.174114	None	0.37567	0.37567

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.068144	None	None	None
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.080265	None	None	None

Impax Core Bond Fund - Investor Class	PAXBX	N/A	None	None	None
Impax Core Bond Fund - Institutional Class	PXBIX	N/A	None	None	None

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.081561	0.17600	1.62404	1.80004
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.112814	0.17600	1.62404	1.80004

June 2019 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is June 19, 2019. The ex-dividend and reinvestment date is June 20, 2019. The payment date is June 21, 2019.

The record date for distributions for the Impax Sustainable Allocation Fund is June 25, 2019. The ex-dividend and reinvestment date is June 26, 2019. The payment date is June 27, 2019.

Fund Name	Ticker	Ordinary Income
Impax Large Cap Fund - Investor Class	PAXLX	0.035701
Impax Large Cap Fund - Institutional Class	PXLIX	0.046373

Impax Small Cap Fund - Investor Class	PXSCX	0.130041
Impax Small Cap Fund - Institutional Class	PXSIX	0.147041
Impax Small Cap Fund - Class A	PXSAX	0.130649

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.153434
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.176033
Impax US Sustainable Economy Fund - Class A	PXGAX	0.15338

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.114718
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.128003

Impax Global Opportunities Fund - Investor Class	PAXGX	0.030547
Impax Global Opportunities Fund - Institutional Class	PXGOX	0.037206

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.08398
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.101171
Impax Global Environmental Markets Fund - Class A	PXEAX	0.08258

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.301292
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.329275

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.150469
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.160827

Impax Core Bond Fund - Investor Class	PAXBX	N/A
Impax Core Bond Fund - Institutional Class	PXBIX	N/A

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A
Impax High Yield Bond Fund - Class A	PXHAX	N/A

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.291219
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.319076

On May 7, 2019, the Funds’ Board of Trustees voted to liquidate the assets of Pax Mid Cap Fund, effective July 15, 2019. Historical information for the Pax Mid Cap Fund can be found on our Inactive Fund Information page.

December 2018 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 19, 2018. The ex-dividend and reinvestment date is December 20, 2018. The payment date is December 21, 2018.

The record date for distributions for the Impax Sustainable Allocation Fund is December 26, 2018. The ex-dividend and reinvestment date is December 27, 2018. The payment date is December 28, 2018.

Fund Name	Ticker	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Large Cap Fund - Investor Class	PAXLX	0.042541	0.18852	1.76693	1.95545
Impax Large Cap Fund - Institutional Class	PXLIX	0.054209	0.18852	1.76693	1.95545

Impax Small Cap Fund - Investor Class	PXSCX	0.003378	0.20892	1.55585	1.76477
Impax Small Cap Fund - Institutional Class	PXSIX	0.029376	0.20892	1.55585	1.76477
Impax Small Cap Fund - Class A	PXSAX	0.005303	0.20892	1.55585	1.76477

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.174615	None	1.06663	1.06663
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.202062	None	1.06663	1.06663
Impax US Sustainable Economy Fund - Class A	PXGAX	0.175234	None	1.06663	1.06663

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.125218	None	0.13438	0.13438
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.137963	None	0.13438	0.13438

Impax Global Opportunities Fund - Investor Class	PAXGX	None	None	None	None
Impax Global Opportunities Fund - Institutional Class	PXGOX	None	None	None	None

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.023671	0.1319	0.27552	0.40742
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.044202	0.1319	0.27552	0.40742
Impax Global Environmental Markets Fund - Class A	PXEAX	0.022701	0.1319	0.27552	0.40742

Impax Ellevate Global Women's Index Fund - Investor Class	PXWEX	0.164975	0.30703	0.33451	0.64154
Impax Ellevate Global Women's Index Fund - Institutional Class	PXWIX	0.19808	0.30703	0.33451	0.64154

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.042336	None	None	None
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.054709	None	None	None

Impax Core Bond Fund - Investor Class	PAXBX	N/A	None	None	None
Impax Core Bond Fund - Institutional Class	PXBIX	N/A	None	None	None

Impax High Yield Bond Fund - Investor Class	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional Class	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.068432	0.06493	0.08035	0.14528
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.098867	0.06493	0.08035	0.14528

June 2018 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is June 20, 2018. The ex-dividend and reinvestment date is June 21, 2018. The payment date is June 22, 2018.

The record date for distributions for the Impax Sustainable Allocation Fund is June 25, 2018. The ex-dividend and reinvestment date is June 26, 2018. The payment date is June 27, 2018.

Ordinary Income distributions are provided below; the Funds did not distribute Capital Gains in June 2018.

Fund Name	Ticker	ORDINARY INCOME
Impax Large Cap Fund - Investor Class	PAXLX	0.03009
Impax Large Cap Fund - Institutional Class	PXLIX	0.041594

Impax Small Cap Fund - Investor Class	PXSCX	None
Impax Small Cap Fund - Institutional Class	PXSIX	None
Impax Small Cap Fund - Class A	PXSAX	None

Impax US Sustainable Economy Fund - Investor Class	PXWGX	0.14398
Impax US Sustainable Economy Fund - Institutional Class	PWGIX	0.168116
Impax US Sustainable Economy Fund - Class A	PXGAX	0.144496

Impax Global Sustainable Infrastructure Fund - Investor Class	PAXDX	0.118444
Impax Global Sustainable Infrastructure Fund - Institutional Class	PXDIX	0.128131

Impax International Sustainable Economy Fund - Investor Class	PXINX	0.153256
Impax International Sustainable Economy Fund - Institutional Class	PXNIX	0.166482

Impax Ellevate Global Women's Leadership Fund - Investor Class	PXWEX	0.271414
Impax Ellevate Global Women's Leadership Fund - Institutional Class	PXWIX	0.29931

Impax Global Environmental Markets Fund - Investor Class	PGRNX	0.098015
Impax Global Environmental Markets Fund - Institutional Class	PGINX	0.11715
Impax Global Environmental Markets Fund - Class A	PXEAX	0.099434

Impax Sustainable Allocation Fund - Investor Class	PAXWX	0.398916
Impax Sustainable Allocation Fund - Institutional Class	PAXIX	0.427136

December 2017 Fund Distributions

The record date for distributions for all Funds excluding the Impax Sustainable Allocation Fund is December 20, 2017. The ex-dividend and reinvestment date is December 21, 2017. The payment date is December 22, 2017.

The record date for distributions for the Impax Sustainable Allocation Fund is December 26, 2017. The ex-dividend and reinvestment date is December 27, 2017. The payment date is December 28, 2017.

Fund Name	Ticker	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAP GAIN RATE
Impax Large Cap Fund - Investor	PAXLX	0.054092	0.23896	0.99595	1.23491
Impax Large Cap Fund - Institutional	PXLIX	0.065138	0.23896	0.99595	1.23491

Impax Small Cap Investor	PXSCX	None	None	0.06098	0.06098
Impax Small Cap Institutional	PXSIX	0.018252	None	0.06098	0.06098
Impax Small Cap - Class A	PXSAX	None	None	0.06098	0.06098

Impax US Sustainable Economy Fund - Investor	PXWGX	0.105773	0.03233	0.58772	0.62005
Impax US Sustainable Economy Fund - Institutional	PWGIX	0.131803	0.03233	0.58772	0.62005
Impax US Sustainable Economy Fund - Class A	PXGAX	0.104187	0.03233	0.58772	0.62005

Impax Global Sustainable Infrastructure Fund - Investor	PAXDX	0.119456	None	0.01775	0.01775
Impax Global Sustainable Infrastructure Fund - Institutional	PXDIX	0.132045	None	0.01775	0.01775

Impax International Sustainable Economy Fund - Investor	PXINX	0.075901	None	None	None
Impax International Sustainable Economy Fund - Institutional	PXNIX	0.088465	None	None	None

Impax Ellevate Global Women's Leadership Fund - Investor	PXWEX	0.141708	0.13857	0.10389	0.24246
Impax Ellevate Global Women's Leadership Fund - Institutional	PXWIX	0.174392	0.13857	0.10389	0.24246

Impax Global Environmental Markets Investor	PGRNX	0.003646	0.02408	0.442	0.46608
Impax Global Environmental Markets Institutional	PGINX	0.024868	0.02408	0.442	0.46608
Impax Global Environmental Markets - Class A	PXEAX	0.002056	0.02408	0.442	0.46608

Impax Core Bond Fund - Investor	PAXBX	N/A	None	0.01479	0.01479
Impax Core Bond Fund - Institutional	PXBIX	N/A	None	0.01479	0.01479

Impax High Yield Bond Fund - Investor	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Sustainable Allocation Fund - Investor	PAXWX	None	None	None	None
Impax Sustainable Allocation Fund - Institutional	PAXIX	None	None	None	None

June 2017 Fund Distributions

The record date for distributions for all Funds is June 21, 2017. The ex-dividend and reinvestment date is June 22, 2017. The payment date is June 23, 2017.

Fund Name	Ticker	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Large Cap Fund Investor	PAXLX	0.037489	0.00193	0.06333	0.06526
Impax Large Cap Fund Institutional	PXLIX	0.044974	0.00193	0.06333	0.06526

Impax Small Cap Fund - Investor	PXSCX	0.020916	0.16455	0.01011	0.17466
Impax Small Cap Fund - Institutional	PXSIX	0.039857	0.16455	0.01011	0.17466
Impax Small Cap Fund - Class A	PXSAX	0.021762	0.16455	0.01011	0.17466

Impax US Sustainable Economy Fund - Investor	PXWGX	0.121552	None	0.04463	0.04463
Impax US Sustainable Economy Fund - Institutional	PWGIX	0.14432	None	0.04463	0.04463
Impax US Sustainable Economy Fund - Class A	PXGAX	0.124841	None	0.04463	0.04463

Impax Global Sustainable Infrastructure Fund - Investor	PAXDX	0.107719	None	0.00014	0.00014
Impax Global Sustainable Infrastructure Fund - Institutional	PXDIX	0.114377	None	0.00014	0.00014

Impax International Sustainable Economy Fund - Investor	PXINX	0.135187	None	None	None
Impax International Sustainable Economy Fund - Institutional	PXNIX	0.144676	None	None	None

Impax Ellevate Global Women's Leadership Fund - Investor	PXWEX	0.22263	0.01733	None	0.01733
Impax Ellevate Global Women's Leadership Fund - Institutional	PXWIX	0.247723	0.01733	None	0.01733

Impax Global Environmental Markets - Investor	PGRNX	0.050473	None	None	None
Impax Global Environmental Markets - Institutional	PGINX	0.066732	None	None	None
Impax Global Environmental Markets - Class A	PXEAX	0.050724	None	None	None

Impax Core Bond Fund - Investor	PAXBX	None	None	None	None
Impax Core Bond Fund - Institutional	PXBIX	None	None	None	None

Impax High Yield Bond Fund - Investor	PAXHX	None	None	None	None
Impax High Yield Bond Fund - Institutional	PXHIX	None	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	None	None	None	None

Impax Sustainable Allocation Fund - Investor	PAXWX	0.142991	0.27846	2.0491	2.32756
Impax Sustainable Allocation Fund - Institutional	PAXIX	0.173584	0.27846	2.0491	2.32756

December 2016 Fund Distributions

The record date for distributions for all Funds is December 21, 2016. The ex-dividend and reinvestment date is December 22, 2016. The payment date is December 23, 2016.

Fund Name	TICKER	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE	TOTAL CAPITAL GAIN RATE
Impax Sustainable Allocation Fund - Investor	PAXWX	0.09787	None	0.24313	0.24313
Impax Sustainable Allocation Fund - Institutional	PAXIX	0.130416	None	0.24313	0.24313
Impax Sustainable Allocation Fund - Class R	PAXRX	0.065049	None	0.24313	0.24313

Impax US Sustainable Economy Fund - Investor	PXWGX	0.123632	None	1.57931	1.57931
Impax US Sustainable Economy Fund - Institutional	PWGIX	0.149938	None	1.57931	1.57931
Impax US Sustainable Economy Fund - Class R	PXGRX	0.101426	None	1.57931	1.57931
Impax US Sustainable Economy Fund - Class A	PXGAX	0.127132	None	1.57931	1.57931

Impax High Yield Bond Fund - Investor	PAXHX	N/A	None	None	None
Impax High Yield Bond Fund - Institutional	PXHIX	N/A	None	None	None
Impax High Yield Bond Fund - Class R	PXHRX	N/A	None	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None	None

Impax Ellevate Global Women's Leadership Fund - Investor	PXWEX	0.148547	None	None	None
Impax Ellevate Global Women's Leadership Fund - Institutional	PXWIX	0.177748	None	None	None

Impax Small Cap Fund - Investor	PXSCX	0.104518	0.18321	0.05547	0.23868
Impax Small Cap Fund - Institutional	PXSIX	0.125087	0.18321	0.05547	0.23868
Impax Small Cap Fund - Class R	PXSRX	0.086308	0.18321	0.05547	0.23868
Impax Small Cap Fund - Class A	PXSAX	0.104812	0.18321	0.05547	0.23868

Impax Global Environmental Markets Fund - Investor	PGRNX	0.02519	None	None	None
Impax Global Environmental Markets Fund - Institutional	PGINX	0.043671	None	None	None
Impax Global Environmental Markets Fund - Class R	PGRGX	0.0078	None	None	None
Impax Global Environmental Markets Fund - Class A	PXEAX	0.023536	None	None	None

Impax International Sustainable Economy Fund - Investor	PXINX	0.058017	None	None	None
Impax International Sustainable Economy Fund - Institutional	PXNIX	0.06898	None	None	None
Impax International Sustainable Economy Fund - Class R	PXIRX	0.051054	None	None	None

*Impax Global Sustainable Infrastructure Fund - Investor**	PAXDX	0.011444	None	None	None
*Impax Global Sustainable Infrastructure Fund - Institutional**	PXDIX	0.011444	None	None	None

Impax Core Bond Fund - Investor	PAXBX	N/A	None	None	None
Impax Core Bond Fund - Institutional	PXBIX	N/A	None	None	None

Impax Large Cap Fund - Investor	PAXLX	0.00674	None	None	None
Impax Large Cap Fund - Institutional	PXLIX	0.00674	None	None	None

June 2016 Fund Distributions

The record date for distributions for all Funds is June 21, 2016. The ex-dividend and reinvestment date is June 22, 2016. The payment date is June 23, 2016.

Fund Name	TICKER	ORDINARY INCOME	SHORT TERM CAPITAL GAIN RATE	LONG TERM CAPITAL GAIN RATE
Impax Sustainable Allocation Fund - Investor	PAXWX	$0.19	None	$0.14
Impax Sustainable Allocation Fund - Institutional	PAXIX	$0.22	None	$0.14
Impax Sustainable Allocation Fund - Class R	PAXRX	$0.17	None	$0.14

Impax US Sustainable Economy Fund - Investor	PXWGX	$0.04	None	$0.02
Impax US Sustainable Economy Fund - Institutional	PWGIX	$0.06	None	$0.02
Impax US Sustainable Economy Fund - Class R	PXGRX	$0.02	None	$0.02
Impax US Sustainable Economy Fund - A-Shares	PXGAX	$0.04	None	$0.02

Impax High Yield Bond Fund - Investor	PAXHX	N/A	None	None
Impax High Yield Bond - Institutional	PXHIX	N/A	None	None
Impax High Yield Bond Fund - Class R	PXHRX	N/A	None	None
Impax High Yield Bond Fund - Class A	PXHAX	N/A	None	None

Impax Small Cap Fund - Investor	PXSCX	None	$0.00	None
Impax Small Cap Fund - Institutional	PXSIX	$0.01	$0.00	None
Impax Small Cap Fund - Class R	PXSRX	None	$0.00	None
Impax Small Cap Fund - Class A	PXSAX	None	$0.00	None

Impax Global Environmental MarketsÂ Fund - Investor	PGRNX	$0.04	None	None
Impax Global Environmental MarketsÂ Fund - Institutional	PGINX	$0.06	None	None
Impax Global Environmental MarketsÂ Fund - Class R	PGRGX	$0.03	None	None
Impax Global Environmental MarketsÂ Fund - Class A	PXEAX	$0.04	None	None

Impax International Sustainable Economy Fund - Investor	PXINX	$0.13	None	None
Impax International Sustainable Economy Fund - Institutional	PXNIX	$0.14	None	None
Impax International Sustainable Economy Fund - Class R	PXIRX	$0.12	None	None

Impax Ellevate Global Women's Leadership Fund - Investor	PXWEX	$0.22	None	None
Impax Ellevate Global Women's Leadership Fund - Institutional	PXWIX	$0.24	None	None

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