Amended Appendix D To the Global Custody Agreement

Amended Appendix D

To the

Global Custody Agreement

This Amended Appendix D, dated September 9, 2019, to the Global Custody Agreement, dated July 21, 2015, between Ultimus Managers Trust (the “Principal”) and MUFG Union Bank, N.A. (the “Agreement”), lists each Portfolio on whose behalf the Principal has entered into the Agreement.

Portfolio	Investment Manager	Fiscal Year End
Xxxxx Value Fund	Xxxxx Asset Management, LLC	July 31
Alambic Small Cap Plus Fund	Alambic Investment Management, L.P.	August 31
Alambic Mid Cap Plus Fund	Alambic Investment Management, L.P.	August 31
HVIA Equity Fund	Xxxxxx Valley Investment Advisors, Inc.	February 28
Xxxxxx Blue Animal Impact Fund	Xxxxxx Blue Capital, LLC	May 31
Kempner Multi-Cap Deep Value Fund	Kempner Capital Management, Inc.	July 00
Xxxxxxxxxx Xxxxxxxxxxxx Xxxxxxxxxxx Xxxx	Xxxxxxxxxx Associates, Inc.	August 31

IN WITNESS WHEREOF, the parties hereto have executed this amended Appendix D as of the date first above written.

ULTIMUS MANAGERS TRUST			MUFG UNION BANK, N.A.
By:	/s/ Xxxxx X. Xxxxxx		By:	/s/Xxxxx Xxxxxxx
Name:	Xxxxx X. Xxxxxx		Name:	Xxxxx Xxxxxxx
Title:	President		Title:	Vice President