Alternative Avenue Fund

Investor Class AAVEX

Series of Two Roads Shared Trust

Supplement dated September 27, 2013
to the Prospectus and Statement of Additional Information (“SAI”)

dated November 1, 2012

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The Board of Trustees of Two Roads Shared Trust has approved termination of the Alternative Avenue Fund effective immediately.

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This Supplement and the existing Prospectus and SAI, dated November 1, 2012, provide relevant information for all shareholders and should be retained for future reference.  The Prospectus and the SAI have been filed with the Securities and Exchange Commission, are incorporated by reference, and can be obtained without charge by calling 1-866-862-9686.