TappAlpha

Disclosure This article is for informational and educational purposes only and is not investment advice or a recommendation to buy or sell any security. Views reflect TappAlpha's perspective at the time of publication and are subject to change. Historical patterns are not a guarantee of future market behavior. Past performance is not indicative of future results. All investments carry risk, including loss of principal. Options strategies involve significant risks, including potential loss of principal, and are not suitable for all investors. Income generation is not guaranteed and may vary significantly based on market conditions. Tax consequences depend on individual circumstances; consult a financial or tax advisor before making investment decisions. The S&P 500 Index and the Cboe Volatility Index (VIX) are unmanaged and cannot be invested in directly. Third-party data is believed reliable but has not been independently verified. Supporting documentation for claims, comparisons, statistics and other technical data is available upon request.

Disclosures: For prospectus, click here: docs.tappalphafunds.com/TSYX…. For standardized performance, visit: tappalphafunds.com/etfs/tsyx tappalphafunds.com/etfs/tdax The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Disclosures: For prospectus, click here: docs.tappalphafunds.com/TMGN… For standardized performance, visit TappAlphaFunds.com/etfs/tmgn The Fund currently expects, but does not guarantee, to make distributions on a monthly basis. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. These distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital. The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized. The Cboe Magnificent 10 Index (MGTN) (the "Index"), values thereof, and related trademarks are the property of Cboe Global Indices, LLC and/or its affiliates (together, "Cboe") and are used pursuant to limited license. The TappAlpha Cboe Magnificent 10 Growth and Daily Income ETF (TMGN) is not sponsored, endorsed, sold, or promoted by the Cboe Parties, and they make no representation or warranty regarding the advisability of investing in the Fund. The performance of the Fund is solely dependent on TappAlpha's discretion TMGN is distributed by Foreside Fund Services, LLC.

Disclosures: For standardized performance, visit tappalphafunds.com/etfs/tspy. Past performance does not guarantee future results. Distributions are not guaranteed and may include return of capital. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. This and other important information about the Fund are contained in the prospectus, which can be obtained at tappalphafunds.com or by calling (844) 403-2888. The prospectus should be read carefully before investing. Investing in securities involves risk, including the potential loss of principal. The Fund invests in options contracts based on the value of the Index, including SPX options. This subjects the Fund to certain of the same risks as if it owned shares of companies comprising the Index. Covered calls may limit participation in market gains, and option income may not offset investment losses. Zero-days-to-expiration (0DTE) options are particularly sensitive to sudden price movements and market volatility. S&P 500® and SPX® are trademarks of S&P Dow Jones Indices LLC or its affiliates. TSPY is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC or its affiliates. Distributor: Foreside Fund Services, LLC.

Disclosures: For prospectus, click here: docs.tappalphafunds.com/TSYX…. For standardized performance, visit: tappalphafunds.com/etfs/tsyx The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Disclosures: For prospectus, click here: docs.tappalphafunds.com/TDAQ… For standardized performance, visit tappalphafunds.com/etfs/tdaq The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Disclosures: For prospectus, click here: cdn.prod.website-files.com/6… For standardized performance, visit: tappalphafunds.com/etfs/tsyx tappalphafunds.com/etfs/tdax The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Disclosures: For standardized performance, visit tappalphafunds.com/etfs/tdax. See more information on TDAQ: tappalphafunds.com/etfs/tdaq Past performance does not guarantee future results. Distributions are not guaranteed and may include return of capital. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before investing. This and other important information about the Fund are contained in the prospectus, which can be obtained at tappalphafunds.com or by calling (844) 403-2888. The prospectus should be read carefully before investing. Investing in securities involves risk, including the potential loss of principal. TDAX seeks daily investment results, before fees and expenses, of 130% of TDAQ’s daily performance. Leverage magnifies gains and losses. Due to daily compounding, returns over periods longer than one trading day may differ significantly from 130% of TDAQ’s returns. The Fund is not suitable for all investors and requires active monitoring. TDAX holds TDAQ shares and uses swap agreements with dealers, which involve financing costs and counterparty risk. Lower financing costs do not guarantee better returns. TDAX bears its proportionate share of TDAQ’s expenses. A contractual management fee waiver offsets those expenses as described in the prospectus. The waiver remains in effect for at least one year; without it, total annual fund operating expenses would be higher. Through its exposure to TDAQ, TDAX is subject to risks associated with TDAQ’s investments and daily covered-call strategy, including NDX options. Covered calls may limit participation in market gains, and option income may not offset investment losses. Zero-days-to-expiration (0DTE) options are particularly sensitive to sudden price movements and market volatility. Nasdaq-100® and NDX® are trademarks of Nasdaq, Inc. TDAX is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. or its affiliates. Distributor: Foreside Fund Services, LLC.

Disclosures: For prospectus, click here: cdn.prod.website-files.com/6… For standardized performance, visit: tappalphafunds.com/etfs/tsyx tappalphafunds.com/etfs/tdax The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Disclosures: For prospectus, click here: cdn.prod.website-files.com/6… For standardized performance, visit TappAlphaFunds.com/tspy The Fund currently expects, but does not guarantee, to make distributions on a monthly basis. These distributions may exceed the Fund's income and gains for the Fund's taxable year. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital. The data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.