BILLIONAIRES CLUB ETF CLUB Stock Analysis

About BILLIONAIRES CLUB ETF

The Fund is an actively managed exchange-tradedfund (“ETF”) that invests in equity securities. Equity securities in which the Fund may invest include common stock, preferredstock, depositary receipts, securities convertible into common and preferred stock and non-convertible preferred stock. The Fund may investin securities of non-U.S. issuers that can be denominated in the U.S. dollar or other currencies, including depositary receipts such asAmerican Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”). The Fund may invest in securitiesfrom foreign developed markets as well as emerging markets companies. The Fund’s sub-adviser, Bancreek CapitalStrategies, LLC (the “Sub-Adviser”), seeks to achieve the Fund’s investment objective by investing in publicly tradedequity securities of companies whose success has contributed to the creation of significant long-term wealth for their founders, controllingshareholders, or key operators. The Fund invests primarily in equity securities of companies founded by, substantially owned by, or meaningfullydeveloped by entrepreneurs or families with a net worth in excess of one billion U.S. dollars. The Sub-Adviser selects investments usingits proprietary research system, which applies a rigorous, systematic framework to evaluate potential holdings. The process integratespublicly available data with the Sub-Adviser’s proprietary research and analysis to identify companies aligned with the strategy.In evaluating companies, the Sub-Adviser generally considers a range of factors, including, but not limited to, measures of capital efficiency(such as return on assets), revenue growth, and market capitalization. Not all factors are considered for each investment, and the weightgiven to each factor may vary over time. The Sub-Adviser will review the portfolioon a monthly basis to determine whether any changes are necessary. As of April 27, 2026, the Sub-Adviser expects the Fund’s portfolioto generally include between 25-50 portfolio companies. However, there is no target for minimum portfolio companies, geographic exposure,or sector exposure as these will shift over time. While investing in a particular market sector is not a strategy of the Fund, its portfoliomay be significantly invested in one or more sectors as a result of the security selection decisions made pursuant to its strategy. TheFund may invest in securities of companies of any market capitalization, though the Fund expects to have significant exposure to largecapitalization companies, which the Sub-Adviser defines to be those companies with market capitalizations exceeding $5 billion at thetime of purchase. The Fund will not invest more than 10% of its assets in any single security at the time of purchase. The Fund is a “non-diversified”investment company under the Investment Company Act of 1940 (the “1940 Act”) and, therefore, may invest a greater percentageof its assets in a particular issuer than a diversified fund.