Supplement dated June 1, 2020
to the Prospectus and Summary Prospectus, each as supplemented, of each of the following funds:
| Fund | Prospectus and Summary Prospectus Dated |
| Columbia Funds Series Trust | |
| Columbia Select Global Growth Fund | 7/1/2019 |
| | |
| Columbia Funds Series Trust I | |
| Columbia Disciplined Small Core Fund | 1/1/2020 |
| | |
| Columbia Funds Series Trust II | |
| Columbia Contrarian Europe Fund | 3/1/2020 |
| Columbia Small/Mid Cap Value Fund | 10/1/2019 |
(each, a Fund, together, the Funds)
As previously announced in February 2020, the Board of Trustees of each Fund, having determined that a reorganization of that Fund was in the best interest of the Fund, voted to approve an Agreement and Plan of Reorganization to reorganize the Fund (each, a Target Fund) with and into the corresponding acquiring fund presented in the table below (each, an Acquiring Fund). Pursuant to applicable law (including the Investment Company Act of 1940), each reorganization may be implemented without obtaining shareholder approval. The reorganizations are expected to occur on or about July 10, 2020 and are expected to be a tax-free reorganization for U.S. federal income tax purposes. Additional information about the reorganizations has been provided in a Combined Information Statement/Prospectus, which was sent to shareholders of record as of March 25, 2020.
| Target Fund | Acquiring Fund |
| Columbia Contrarian Europe Fund | Columbia Overseas Core Fund |
| Columbia Disciplined Small Core Fund | Columbia Small Cap Value Fund I |
| Columbia Select Global Growth Fund | Columbia Select Global Equity Fund |
| Columbia Small/Mid Cap Value Fund | Columbia Select Mid Cap Value Fund |
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of any Acquiring Fund, nor is it a solicitation of any proxy. Because each Target Fund will reorganize into the corresponding Acquiring Fund on its reorganization date, you should consider the appropriateness of making a new or subsequent investment in the Target Fund prior to its reorganization date. You should consider the investment objectives, risks, strategies, fees and expenses of an Acquiring Fund and/or Target Fund carefully before investing. To obtain an Acquiring Fund's current prospectus, shareholder reports and other regulatory filings, contact your financial intermediary or visit columbiathreadneedleus.com.
Shareholders should retain this Supplement for future reference.
