Portfolio Optimization Moderate Conservative Fund

Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the performance quoted. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than the original cost.

Class A shares of the Multi-Asset Funds have a maximum 5.50% sales charge.

Class C shares of each Multi-Asset Fund, if redeemed within one year from purchase, may be subject to a 1.00% contingent deferred sales charge (CDSC).

Class I-2 shares are sold at NAV without an initial sales charge and do not include a contingent deferred sales charge (CDSC).

Where a sales charge is illustrated, it is applied at the beginning of the period.

The Fund's annual operating expenses are contractual and there is no guarantee that the investment adviser will continue to cap expenses after the expiration date. Please see the current prospectus for detailed information. Gross Expense Ratio reflects the total annual operating expenses paid by the Fund. Net Expense Ratio reflects waivers, reductions, reimbursements, and the limitation of certain "Other Expenses." Expense caps and/or fee waivers are reevaluated annually.

Life of Fund, 3-, 5-, and 10-year (as applicable) represents the performance of the Share Class as of the fund inception date which may differ from the Share Class inception date shown.

MOP:  Maximum Offering Price returns reflect the deduction of an up-front sales load or a contingent deferred sales charge (CDSC) as applicable.
NAV:   Net Asset Value returns do not reflect the deduction of an up-front sales load or contingent deferred sales charge (CDSC).  If a sales charge had been deducted, the results would have been lower.

Class B shares of the Multi-Asset Funds are closed to new investors.

All Funds and share classes may not be sold at all firms, and not all investors may be eligible for all share classes.

You should consider a fund's investment goal, risks, charges and expenses carefully before investing. The prospectus and/or the applicable summary prospectus contain this and other information about the fund and are available from your financial advisor or AristotleFunds.com. The prospectus and/or summary prospectus should be read carefully before investing. Returns reflect reinvestment of dividends and distributions. Visit Aristotle.com/performance for performance data current to the most recent month-end.

Investing involves risk. Principal loss is possible.

‍Foreside Financial Services, LLC, distributor.