FIRST AMENDMENT TO THE

AMENDED AND RESTATED CUSTODY AGREEMENT

THIS FIRST AMENDMENT dated as of February 22, 2019, to the Second Amended and Restated Custody Agreement (this “Amendment"), is entered into by and between BROWN ADVISORY FUNDS, a Delaware business trust, (the “Trust”) and U.S. BANK NATIONAL ASSOCIATION (the "Custodian").

RECITALS

WHEREAS, the Trust and the Custodian are parties to that certain Second Amended and Restated Custody Agreement, dated May 2, 2018, as amended (the “Agreement”).

WHEREAS, the parties desire to amend the funds list of the Agreement; and

WHEREAS, Article XV, Section 15.02 of the Custody Agreement allows for its amendment by a written instrument executed by both parties and authorized or approved by the Board of Trustees.

NOW, THEREFORE, the parties agree to amend the Agreement as following:

Exhibit B of the Custody Agreement is hereby superseded and replaced with First Amended Exhibit B attached hereto.

Except to the extent amended hereby, the Custody Agreement shall remain in full force and effect.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year written above.

BROWN ADVISORY FUNDS	U.S. BANK NATIONAL ASSOCIATION
By:  /s/ Paul Chew	By: /s/ Anita M. Zagrodnik
Name: Paul Chew	Name:  Anita M. Zagrodnik
Title:  President	Title:  Senior VP 3/4/19

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FIRST AMENDED EXHIBIT B TO THE CUSTODY AGREEMENT

Separate Series of Brown Advisory Funds

Brown Advisory Flexible Equity Fund

Brown Advisory Growth Equity Fund

Brown Advisory Intermediate Income Fund

Brown Advisory Maryland Bond Fund

Brown Advisory Small-Cap Fundamental Value Fund

Brown Advisory Small-Cap Growth Fund

Brown Advisory Equity Income Fund

Brown Advisory Tax-Exempt Bond Fund

Brown Advisory Sustainable Growth Fund

Brown Advisory Emerging Markets Select Fund

Brown Advisory Mortgage Securities Fund

Brown Advisory - WMC Strategic European Equity Fund

Brown Advisory – WMC Japan Alpha Opportunities Fund

Brown Advisory Total Return Fund

Brown Advisory Strategic Bond Fund

Brown Advisory Global Leaders Fund

Brown Advisory Sustainable Bond Fund

Brown Advisory Mid-Cap Growth Fund

Brown Advisory - Beutel Goodman Large-Cap Value Fund

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