AMBS Amarantus Bioscience Holdings Inc (CE)

I.     CHANGES TO MANAGEMENT OF THE FUNDS

Under the heading “Management of the Funds”, the table beginning on page 42, pertaining to the Trustees and executive officers of GuideStone Funds, is deleted in its entirety and replaced with the following :

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II.     CHANGES FOR THE EXTENDED-DURATION BOND FUND

Effective immediately, William H. Williams no longer serves as a portfolio manager for the portion of the Extended-Duration Bond Fund managed by Schroder Investment Management North America Inc. All references herein to William H. Williams are deleted in their entirety.

III.     CHANGES FOR THE DEFENSIVE MARKET STRATEGIES FUND

Turner Investments, L.P. (“Turner”) has been terminated as sub-adviser to the Defensive Market Strategies Fund. All references herein to Turner are deleted in their entirety.

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In the section entitled “Control Persons of Sub-Advisers” under the sub-heading for the Defensive Market Strategies Fund, on page 54, the following paragraph is added:

Parametric Portfolio Associates LLC (“Parametric”), 3600 Minnesota Drive, Suite 325, Minneapolis, Minnesota 55435 : Parametric is a registered investment adviser offering a variety of structure portfolio solutions. Parametric is 92% owned by Eaton Vance Corp., a Boston-based investment management firm, and 8% owned by current and former employees of Parametric.

In the section entitled “Portfolio Manager Compensation”, beginning on page 69, the following disclosure pertaining to Parametric Portfolio Associates LLC, which is current as of December 31, 2013, is added:

Parametric Portfolio Associates LLC (“Parametric”). Parametric’s compensation structure for senior portfolio managers consists of a fixed base salary and an incentive bonus that is determined annually based on a percentage of the firm’s operating profit. In addition, senior portfolio managers who are also principals of the firm receive quarterly equity-based distributions based on their percentage of ownership of the firm. Other investment professionals receive a fixed base salary and an annual discretionary bonus that is determined based on the individual’s performance and the financial performance of the firm. Individual investment professional performance is assessed by the chief investment officer based on the quality of service and advice provided to clients and the level of value added to the investment team and Parametric. None of the investment professionals’ compensation is directly tied to account performance or the value of assets held in accounts or growth in the value of accounts. Some portfolio managers who are not currently equity owners of the firm may receive an incentive grant that has some of the characteristics of actual equity ownership but is not actual equity in the firm (i.e., phantom equity).

In Appendix B – Descriptions of Proxy Voting Procedures, the following disclosure is added:

Parametric Portfolio Associates LLC (“Parametric”). Parametric acts as a discretionary investment adviser for various clients, which may include clients governed by the Employee Retirement Income Security Act of 1974 (“ERISA”). While Parametric’s standard policy is to not vote proxies for clients, the firm’s authority to vote proxies or act with respect to other shareholder actions may be established through the delegation of discretionary authority under an investment advisory contract. Therefore, unless a client (including a “named fiduciary” under ERISA) specifically reserves the right, in writing, in the investment management agreement or in a supplemental written communication, to vote its own proxies or to take shareholder action with respect to other corporate actions requiring shareholder actions, Parametric will vote all proxies and act on all other actions in a timely manner as part of the firm’s full discretionary authority over client assets in accordance with the proxy voting policies and procedures. Corporate actions may include, for example and without limitation, tender offers or exchanges, bankruptcy proceedings and class actions.

For proxies voted by Parametric, the firm receives proxies and votes them in a timely manner and in a manner consistent with the determination of the client’s best interests. Each proxy issue will be considered individually. Proxy voting may be different for different types of clients. Although many proxy proposals can be voted in accordance with established guidelines (the “Guidelines”), it is recognized that some proposals require special consideration which may dictate that an exception is made to the Guidelines.

Parametric will review all proxy proposals for conflicts of interest as part of the overall vote review process. Where a proxy proposal raises a material conflict between Parametric’s interests and a client’s interest, the firm will resolve such a conflict in one or more of the following manners: vote in accordance with the Guidelines; obtain consent of clients; and/or client directive to use an independent third party. To

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the extent that Parametric has little or no discretion to deviate from the Guidelines with respect to the proposal in question, the firm will vote in accordance with the pre-determined voting policy. To the extent that Parametric has discretion to deviate from the Guidelines with respect to the proposal in question, the firm will disclose the conflict to the relevant clients and obtain their consent to the proposed vote prior to voting the securities. If a client does not respond to such a conflict disclosure request or denies the request, Parametric will abstain from voting the securities held by the client’s account. Lastly, a client may, in writing, specifically direct Parametric to forward all proxy matters in which the firm has a conflict of interest regarding the client’s securities to an identified independent third party for review and recommendation. When the independent third party’s recommendations are received on a timely basis, Parametric will vote all such proxies in accordance with the third party’s recommendation; whereas, if the third party’s recommendations are not received in a timely manner, Parametric will abstain from voting the securities held by that client’s account.

IV.     SUB-ADVISER CORPORATE REORGANIZATION FOR THE

GROWTH EQUITY FUND

All references to Rainier Investment Management, Inc. are deleted in their entirety and replaced with Rainier Investment Management, LLC. There are no other changes to the disclosure.

V.     CHANGES FOR THE SMALL CAP EQUITY FUND

Western Asset Management Company and Western Asset Management Company Limited (together, “Western”) have been terminated as sub-advisers to the Small Cap Equity Fund. All references herein to Western relative to the Small Cap Equity Fund are deleted in their entirety.

In the section entitled “Control Persons of Sub-Advisers” under the sub-heading for the Small Cap Equity Fund, beginning on page 56, the following paragraph is added:

Snow Capital Management L.P. (“Snow”), 2000 Georgetowne Drive, Suite 200, Sewickley, Pennsylvania 15143: Snow is a registered investment advisory firm that provides investment and capital management services. Snow Capital Management Inc. (“SCM Inc.”) is the general partner of Snow. Richard A. Snow is the President and sole shareholder of SCM Inc. Mr. Snow and related entities own 61% of the ownership interest in the voting stock of Snow. SCM Inc. and Snow were formed on August 7, 2001, and Snow has operated as an investment advisory firm since that time.

In the section entitled “Portfolio Manager Compensation”, beginning on page 69, the following disclosure pertaining to Snow Capital Management L.P., which is current as of December 31, 2013, is added:

Snow Capital Management L.P. (“Snow”). Each of the portfolio managers receives compensation in the form of a fixed salary. Portfolio managers are also eligible for a bonus, which is based on the overall profitability of Snow. Additionally, a portfolio manager may receive equity dividends from his or her ownership in the firm.

In Appendix B – Descriptions of Proxy Voting Procedures, the following disclosure is added:

Snow Capital Management L.P. (“Snow”) . When delegated authority, Snow votes all proxies relating to the securities held within those client accounts managed by the firm. Snow’s primary objective when voting proxies is to make voting decisions in a method that the firm believes is most likely to increase the

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value of the securities within the portfolio. Snow has adopted procedures and policies formulated to ensure that the firm considers the client’s interests, and not Snow’s interests, when voting proxies and that any material conflicts that may arise are properly addressed and resolved. The firm utilizes a third party proxy voting service, which includes electronic voting services and research. In addition, Snow conducts its own proxy research by reading proxies and proposals for each security while using third party research as a guide.

VI.     PORTFOLIO MANAGER CHANGE FOR THE

INTERNATIONAL EQUITY FUND

Effective immediately, Tom Record no longer serves as a portfolio manager for the portion of the International Equity Fund managed by Baillie Gifford Overseas Limited. All references herein to Tom Record are deleted in their entirety.

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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.

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