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Beutel Goodman Large-Cap Value Fund Institutional Shares, C000198528, BVALX Brown Advisory Sustainable Value Fund Institutional Shares Brown Advisory Sustainable Value Fund Institutional Shares, C000240652, BASVX Russell 1000® Index (reflects no deduction for fees, expenses and taxes) Russell 1000® Index (reflects no deduction for fees, expenses and taxes) MSCI All Country World Index (ACWI)(reflects no deduction for fees, expenses and taxes) MSCI All Country World Index (ACWI)(reflects no deduction for fees, expenses and taxes) American Depositary Receipts And Global Depository Receipts Risk Member American Depositary Receipts And Global Depository Receipts Risk Member Sustainable Investing Policy Risk Member Sustainable Investing Policy Risk Member Brown Advisory WMC Strategic European Equity Fund Investor Shares Brown Advisory - WMC Strategic European Equity Fund Investor Shares, C000131938, BIAHX European Securities Risk Member European Securities Risk Member Brown Advisory Sustainable Bond Fund Institutional Shares Brown Advisory Sustainable Bond Fund Institutional Shares, C000191095, BAISX Non-Investment Grade ("Junk Bond") Securities Risk Member Non-Investment Grade ("Junk Bond") Securities Risk Member Brown Advisory Sustainable Growth Fund Institutional Shares Brown Advisory Sustainable Growth Fund Institutional Shares, C000116562, BAFWX Brown Advisory Intermediate Income Fund Investor Shares Brown Advisory Intermediate Income Fund Investor Shares, C000118736, BIAIX MSCI Europe Index (reflects no deduction for fees, expenses and taxes) MSCI Europe Index (reflects no deduction for fees, expenses and taxes) Large Capitalization Company Risk Member Large Capitalization Company Risk Member Brown Advisory Global Leaders Fund Brown Advisory Global Leaders Fund, S000049137 Brown Advisory Small‑Cap Growth Fund Advisor Shares Brown Advisory Small‑Cap Growth Fund Advisor Shares, C000118726, BASAX MSCI Emerging Markets Index (reflects no deduction for fees, expenses and taxes) MSCI Emerging Markets Index (reflects no deduction for fees, expenses and taxes) Large Investor Risk Member Large Investor Risk Member Russell 2000 Value® Index (reflects no deduction for fees, expenses and taxes) Russell 2000 Value® Index (reflects no deduction for fees, expenses and taxes) Brown Advisory Sustainable Growth Fund Brown Advisory Sustainable Growth Fund, S000037789 Russell 1000® Growth Index (reflects no deduction for fees, expenses and taxes) Russell 1000® Growth Index (reflects no deduction for fees, expenses and taxes) Brown Advisory Sustainable International Leaders Fund Advisor Class Brown Advisory Sustainable International Leaders Fund Advisor Class, C000234310 Brown Advisory Global Leaders Fund Institutional Shares Brown Advisory Global Leaders Fund Institutional Shares, C000154927, BAFLX Brown Advisory Mortgage Securities Fund Institutional Shares Brown Advisory Mortgage Securities Fund Institutional Shares, C000135279, BAFZX Brown Advisory Sustainable Value Fund Investor Shares Brown Advisory Sustainable Value Fund Investor Shares, C000240651, BISVX MSCI ACWI ex USA Index (reflects no deduction for fees, expenses and taxes) MSCI ACWI ex USA Index (reflects no deduction for fees, expenses and taxes) Brown Advisory Sustainable Small-Cap Core Fund Advisor Shares Brown Advisory Sustainable Small-Cap Core Fund Advisor, C000229578 Bloomberg Municipal Bond Index (reflects no deduction for fees, expenses and taxes) Bloomberg Municipal Bond Index (reflects no deduction for fees, expenses and taxes) Brown Advisory Growth Equity Fund Investor Shares Brown Advisory Growth Equity Fund Investor Shares, C000118712, BIAGX Brown Advisory Small‑Cap Fundamental Value Fund Brown Advisory Small‑Cap Fundamental Value Fund, S000038484 Prepayment/Extension Risk Member Prepayment/Extension Risk Member Bloomberg Municipal 1-15 Year Index (reflects no deduction for fees, expenses and taxes) Bloomberg Municipal 1-15 Year Index (reflects no deduction for fees, expenses and taxes) Credit Risk 1 Member Credit Risk 1 Member American Depositary Receipts (“ADRs”) And Global Depository Receipts (“GDRs”) Risk Member American Depositary Receipts (“ADRs”) And Global Depository Receipts (“GDRs”) Risk Member Brown Advisory Sustainable Small-Cap Core Fund Brown Advisory Sustainable Small-Cap Core Fund New Fund Risk Member New Fund Risk Member Brown Advisory Beutel Goodman Large-Cap Value Fund Brown Advisory - 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WMC Japan Equity Fund C000254124 Advisor Shares C000254125 Institutional Shares C000254126 Investor Shares Brown Advisory Global Leaders Fund Advisor Shares Brown Advisory Global Leaders Fund Advisor Shares, C000154929 TOPIX Net Total Return Index
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