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Important Disclosures

An investment in the fund is subject to investment risk, including the possible loss of principal. DUDE ETF shares, BOB ETF shares, WIZ ETF shares, and SNUG ETF shares may be bought and sold on the NYSE and NASDAQ through a brokerage account, respectively. Brokerage commissions and ETF expenses will reduce investment returns. There can be no assurance that an active trading market for ETF shares will be developed or maintained. There is no guarantee that the DUDE ETF, BOB ETF, WIZ ETF, or SNUG ETF strategy will be successful. Because they invest primarily in other ETFs, DUDE ETF's, BOB ETF's, WIZ ETF's, and SNUG ETF's investment performance largely depends on the investment performance of those underlying ETFs. An investor will indirectly bear the principal risks and its share of the fees and expenses of the underlying ETFs. The risks associated with these ETFs are detailed in the prospectus and could include factors such as concentration risk, foreign and emerging markets risk, equity market risk, momentum investing risk, value investing risk, fixed income risk, gold risk, high portfolio turnover risk and bull index bond risks. Maintaining investments regardless of market conditions or the performance of an individual investment could cause the ETF's returns to be lower than if the ETFs employed an active strategy. The performance of the ETFs and their Indexes may differ due to tracking error. The Indexes use a form of (AI) artificial intelligence. Investments utilizing quantitative methods may perform differently than the market as a whole. Momentum investing can turn quickly and cause significant variation from other types of investments. There may be periods when the momentum style is out of favor, and during which the investment performance of an ETF using a momentum strategy may suffer. DUDE ETF, BOB ETF, WIZ ETF, and SNUG ETF are non-diversified and may be more sensitive to economic, business, political or other changes affecting individual issuers or investments than a diversified fund, which may result in greater fluctuation in the value of the ETF's Shares and greater risk of loss.

The Securities and Exchange Commission (SEC) does not approve or disapprove of any investment. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. References to other funds should not to be interpreted as an offer of these securities.

Past Performance does not guarantee future results

The Funds are distributed by Quasar Distributors, LLC.

The Funds' investment advisor is Empowered Funds, LLC which is doing business as Alpha Architect.

The Funds are not actively managed. Maintaining investments regardless of market conditions or the performance of an individual investment could cause the Funds' returns to be lower than if the Funds employed an active strategy. The performance of the Funds and their Indices may differ due to tracking error.

The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. Click here for the WIZ and SNUG Prospectus, and WIZ and SNUG SAI. Click here for the DUDE and BOB Prospectus, and DUDE and BOB SAI. All fund documents can be found at https://merlynetfs.com/documents. A free hardcopy of any prospectus may be obtained by calling +1.215.882.9983. Read carefully before investing.