Chairman, Co-CEO & Chief Investment Officer
Lead Portfolio Manager: Ariel Fund
Co-Portfolio Manager: Ariel Small Cap Value, Ariel Small Cap Value Concentrated, Ariel Small/Mid Cap Value, Ariel Mid Cap Value and Ariel Appreciation Fund, Schwab Ariel ESG ETF

Co-CEO & President

Chief Investment Officer and Portfolio Manager: Global Equities
Co-Portfolio Manager: Ariel Global Concentrated

Vice Chairman, Head of Investment Group
Portfolio Manager: Ariel Focus Fund and Ariel Focused Value

Executive Vice President, Director of Research
Co-Portfolio Manager: Ariel Appreciation Fund and Ariel Mid Cap Value

Investors in the mutual funds advised by Ariel Investments and offered by the Ariel Investment Trust should consider carefully the investment objectives, risks, and charges and expenses before investing. For a current prospectus or summary prospectus which contains this and other information about the funds, call us at 800-292-7435 or visit our web site, Please read the prospectus or summary prospectus carefully before investing. The funds are distributed by Ariel Distributors LLC, a wholly-owned subsidiary of Ariel Investments LLC. Ariel Distributors, LLC is a member of the Securities Investor Protection Corporation