Dividends & Distributions

2014 Distribution Dates:

Funds Record Date Reinvest Date Payable Date
BUFBX1, BUFHX2 January 17, 2014 January 21, 2014 January 21, 2014
BUFBX1, BUFHX2 February 18, 2014 February 19, 2014 February 19, 2014
BUFBX1, BUFHX2, BUFDX3 March 17, 2014 March 18, 2014 March 18, 2014
BUFBX1, BUFHX2 April 17, 2014 April 21, 2014 April 21, 2014
BUFBX1, BUFHX2 May 19, 2014 May 20, 2014 May 20, 2014
BUFBX1, BUFHX2, BUFDX3 June 17, 2014 June 18, 2014 June 18, 2014
BUFBX1, BUFHX2 July 17, 2014 July 18, 2014 July 18, 2014
BUFBX1, BUFHX2 August 18, 2014 August 19, 2014 August 19, 2014
BUFBX1, BUFHX2, BUFDX3 September 17, 2014 September 18, 2014 September 18, 2014
BUFBX1, BUFHX2 October 17, 2014 October 20, 2014 October 20, 2014
BUFBX1, BUFHX2 November 17, 2014 November 18, 2014 November 18, 2014
ALL Funds December 17, 2014 December 18, 2014 December 18, 2014

1 BUFBX - Buffalo Flexible Income Fund
2 BUFHX - Buffalo High Yield Fund
3 BUFDX - Buffalo Dividend Focus Fund


Distributions:

March 2014 Monthly Distributions
Record Date:  03/17/14 Reinvest Date:  03/18/14 Payable Date:  03/18/14
Buffalo Flexible Income Fund $0.01982326 -- $0.01982326 -- $0.01982326 $14.33
Buffalo High Yield Fund $0.02872485 -- $0.02872485 -- $0.02872485 $11.89

First Quarter 2014 Distributions
Record Date:   03/17/14 Reinvest Date:   03/18/14 Payable Date:   03/18/14
Buffalo Dividend Focus Fund $0.03702784 -- $0.03702784 -- $0.03702784 $12.11

Distributions by Quarter:

First Quarter 2014 Distributions
Record Date:  03/17/14 Reinvest Date:  03/18/14 Payable Date:  03/18/14
Buffalo Dividend Focus Fund $0.03702784 -- $0.03702784 -- $0.03702784 $12.11

Year - End Distributions:

2013 Year - End Distributions
Record Date:  12/17/13 Reinvest Date:  12/18/13 Payable Date:  12/18/13
Buffalo Flexible Income Fund $0.05383558 $0.07750 $0.05383558 $0.04745 $0.17878558 $14.06
Buffalo Dividend Focus Fund $0.04725764 $0.38271 $0.04725764 -- $0.42996764 $11.56
Buffalo Large Cap Fund $0.08402260 $0.00793 $0.08402260 $3.45779 $3.54974260 $22.93
Buffalo Growth Fund $0.22328061 $0.67239 $0.22328061 $1.35484 $2.25051061 $34.05
Buffalo High Yield Fund $0.06771467 $0.03213 $0.06771467 $0.15228 $0.25212467 $11.71
Buffalo International Fund $0.02100800 -- $0.02100800 -- $0.02100800 $11.42
Buffalo Mid Cap Fund -- $0.15802 -- $2.92247 $3.08049 $18.34
Buffalo Emerging Opportunities Fund -- -- -- $0.04726 $0.04726 $19.26
Buffalo Small Cap Fund -- $0.39542 -- $2.80163 $3.19705 $36.31
Buffalo Discovery Fund -- $0.52163 -- $0.98886 $1.51049 $19.44