AMENDMENT NO. 11 TO ADMINISTRATIVE SERVICES AGREEMENT (Thrivent Mutual Funds)

Exhibit (h)(12)

AMENDMENT NO. 11

TO ADMINISTRATIVE SERVICES AGREEMENT

(Thrivent Mutual Funds)

Thrivent Asset Management, LLC (“TAM”) and Thrivent Mutual Funds (“TMF”) hereby agree that the Administrative Services Agreement dated January 1, 2009, as amended, between TAM and TMF (the “Agreement”) is hereby amended to reflect the following changes effective February 28, 2020:

(i) Item 4(g) of Schedule B is amended to read as follows:

Issue daily reports detailing such per share information of each Fund to such persons (e.g., the Transfer Agent and the distributor of the Funds) as directed by the Board of Trustees; and

(ii) Thrivent Mid Cap Growth Fund and Thrivent Mid Cap Value Fund shall each be deemed a “Fund” under the terms of the Agreement;

A revised Exhibit A is attached hereto.

THRIVENT MUTUAL FUNDS

By:		/s/ Xxxxx X. Royal
		Xxxxx X. Royal
		President and Chief Investment Officer

THRIVENT ASSET MANAGEMENT, LLC

By:		/s/ Xxxxxx X. Xxxxxxxxxxxx
		Xxxxxx X. Xxxxxxxxxxxx

Vice President, Chief Financial Officer and Treasurer

EXHIBIT A

(Effective February 28, 2020)

1. Thrivent Aggressive Allocation Fund

2. Thrivent Balanced Income Plus Fund

3. Thrivent Diversified Income Plus Fund

4. Thrivent Global Stock Fund

5. Thrivent Government Bond Fund

6. Thrivent High Income Municipal Bond Fund

7. Thrivent High Yield Fund

8. Thrivent Income Fund

9. Thrivent International Allocation Fund

10. Thrivent Large Cap Growth Fund

11. Thrivent Large Cap Value Fund

12. Thrivent Limited Maturity Bond Fund

13. Thrivent Low Volatility Equity Fund

14. Thrivent Mid Cap Growth Fund

15. Thrivent Mid Cap Stock Fund

16. Thrivent Mid Cap Value Fund

17. Thrivent Moderate Allocation Fund

18. Thrivent Moderately Aggressive Allocation Fund

19. Thrivent Moderately Conservative Allocation Fund

20. Thrivent Money Market Fund

21. Thrivent Multidimensional Income Fund

22. Thrivent Municipal Bond Fund

23. Thrivent Opportunity Income Plus Fund

24. Thrivent Small Cap Growth Fund

25. Thrivent Small Cap Stock Fund