July 27, 2026

Buffalo Funds

c/o Kornitzer Capital Management, Inc.

5420 West 61st Place

Mission, Kansas 66205

Ladies and Gentlemen:

We consent to the incorporation by reference in this Registration Statement of: our opinion dated

September 28, 2007 regarding the sale of Investor Class shares (formerly undesignated) of the Buffalo

International Fund; our opinion dated July 30, 2008 regarding the sale of Investor Class shares (formerly

undesignated) of the Buffalo Flexible Allocation Fund (f/k/a Buffalo Balanced Fund), Buffalo High

Yield Fund, Buffalo Blue Chip Growth Fund (f/k/a Buffalo Large Cap Fund), Buffalo Small Cap

Growth Fund (f/k/a Buffalo Small Cap Fund) and Buffalo Growth Fund (f/k/a Buffalo USA Global

Fund); our opinion dated November 28, 2012 regarding the sale of Investor Class shares (formerly

undesignated) of the Buffalo Growth & Income Fund (f/k/a Buffalo Dividend Focus Fund); and our

opinion dated June 28, 2019 regarding the sale of Institutional Class shares of the Buffalo Mid Cap

Discovery Fund (f/k/a Buffalo Discovery Fund), Buffalo Growth & Income Fund (f/k/a Buffalo

Dividend Focus Fund), Buffalo Early Stage Growth Fund (f/k/a Buffalo Emerging Opportunities Fund),

Buffalo Flexible Allocation Fund (f/k/a Buffalo Flexible Income Fund), Buffalo Growth Fund, Buffalo

High Yield Fund, Buffalo International Fund, Buffalo Blue Chip Growth Fund (f/k/a Buffalo Large Cap

Fund), Buffalo Mid Cap Growth Fund (f/k/a Buffalo Mid Cap Fund) and Buffalo Small Cap Growth

Fund (f/k/a Buffalo Small Cap Fund); each a series of Buffalo Funds. 

In giving this consent, however, we do not admit that we are experts or within the category of

persons whose consent is required by Section 7 of the Securities Act of 1933, as amended.

Very truly yours,

/s/ Godfrey & Kahn, S.C.

GODFREY & KAHN, S.C.