Prospectus by Investment Company (Form 497)

BROWN ADVISORY FUNDS

Brown Advisory Growth Equity Fund

Brown Advisory Flexible Equity Fund

Brown Advisory Sustainable Growth Fund

Brown Advisory Mid-Cap Growth Fund

Brown Advisory Small-Cap Growth Fund

Brown Advisory Small-Cap Fundamental Value Fund

Brown Advisory Sustainable Small-Cap Core Fund

Brown Advisory Sustainable Value Fund

Brown Advisory Global Leaders Fund

Brown Advisory Sustainable International Leaders Fund

Brown Advisory Intermediate Income Fund

Brown Advisory Sustainable Bond Fund

Brown Advisory Maryland Bond Fund

Brown Advisory Tax-Exempt Bond Fund

Brown Advisory Tax-Exempt Sustainable Bond Fund

Brown Advisory Mortgage Securities Fund

Brown Advisory − WMC Strategic European Equity Fund

Brown Advisory Emerging Markets Select Fund

Brown Advisory - Beutel Goodman Large-Cap Value Fund

Brown Advisory − WMC Japan Equity Fund

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Supplement dated December 19, 2025

to the Statement of Additional Information ("SAI") dated October 31, 2025

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1.

Effective December 31, 2025, Henry H. Hopkins, a member of the Board of Trustees of the Brown Advisory Funds (the "Trust") has retired from his role as an Independent Trustee of the Trust. Accordingly, all references to Mr. Hopkins serving as an Independent Trustee of the Trust throughout the SAI are removed in their entirety.

2.	The table entitled "Other Accounts under Management" in the section entitled "Management - Investment Sub-Adviser - Brown Advisory Emerging Markets Select Fund - Information Regarding Portfolio Managers" is deleted and restated with the following:

Other Accounts Under Management. The table below identifies, for the portfolio manager of the Brown Advisory Emerging Markets Select Fund, the number of accounts managed (excluding the Fund) and the total assets in such accounts, within each of the following categories: registered investment companies, other pooled investment vehicles, and other accounts. Information in the table is shown as of June 30, 2025. Asset amounts are approximate and have been rounded.

If you have any questions, please call Brown Advisory Funds at 800-540-6807 (toll free) or 414-203-9064.

Investors should retain this supplement for future reference.