To arrange the numbers from least to greatest, first convert all values to decimals: 1/3 is approximately 0.333, 0.45 remains 0.45, 2/5 is 0.4, and 0.5 remains 0.5. Ordering these gives 0.333 (1/3), 0.45, 0.4 (2/5), and 0.5, resulting in the sequence 1/3, 0.45, 2/5, 0.5.