The NETLease Corporate Real Estate ETFINVEST IN THE REAL ESTATE OF AMERICAN BUSINESS

NET LEASE IS ALL AROUND US –it’s your gym, convenience store, pharmacy, grocery,

favorite drive-thru, the place your packages come from, and much more.

What is a Triple Net Lease?

Portfolio Highlights

Exchange traded fund on the NYSE Arca

Transparent, Tradeable,

Tax Advantaged1

Income + Growth =

Total Return

$85 Billion Sector Index comprised of 23 publicly traded

Net Lease REITs on NYSE & NASDAQ

Focused investment thesis rooted in

long term corporate cash flows

Recreate PMS

Public Companies 23

Enterprise Value $148B

Weighted Average Enterprise Value $7.9B

Market Capitalization $84.8B

Weighted Average Market Capitalization $4.8B

Annualized Revenue $11.5B

Debt/Enterprise Value 40.7%

Properties 24,461

Occupancy 99.0%

Weighted Average Remaining Lease Term 14.8 yrs

States 50

Largest Weighted Tenant Concentration 3.1%

Equity Cash Flow Multiple 11.1x

Ticker NETL

What is NETL?

In addition to the rent, the Tenant pays:

1 Property Taxes

2 Property Insurances

3 Property Maintenance

1The Fund will invest in REITs. Pursuant to Section 199A, The Tax Act treats “qualified REIT dividends” as eligible for a 20% deduction by non-corporate taxpayers. This deduction, if allowed in full, equates to a maximum effective tax rate of 29.6% (37% top rate applied to income after 20% deduction). Investors should consult a CPA or Tax Attorney before investing.

DisclosuresCarefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This additional information can be found in the Fund’s prospectus, which may be obtained by visiting www.netleaseetf.com. Read the prospectus carefully before investing.

Investments involve risk. Principal loss is possible. The Fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (net NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. The Index, and consequently the Fund, is expected to concentrate its investments in real estate companies. As a result, the value of the Fund’s shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries. Investment in real estate companies and REITs involve unique risks, including limited financial resources, they may trade less frequently and in limited volume, and they may be more volatile than other securities. In addition, securities in the real estate sector are subject to certain risks associated with direct ownership of real estate and the risk that the value of their underlying real estate may go down. Companies in the Net Lease Real Estate sector may be affected by unique factors related to leasing properties to single tenants including dependence on the financial performance of its’ tenants and lease terms related to rent escalations based on economic measurements.

The Fund may invest in foreign securities which involves political, economic and currency risks, differences in accounting methods and great volatility. Investments in small and mid-sized companies have historically be subject to greater investment risk than large company stocks.Fundamental Income Net Lease Real Estate Index - a rules-based index that tracks the performance of the U.S. listed net lease real estate sector. The Index identifies real estate companies, including real estate investment trust (REITs), screens each real estate company for property type and tenant, and assigns only those companies identified as net lease to the index. It is not possible to invest directly in an index.

Enterprise Value - a measure of a company’s total value which includes the equity market capitalization plus total debt plus preferred equity less cash on the company’s balance sheet.

Debt/Enterprise Value - Debt-to-Enterprise Value is the weighted average Total Debt-to-Enterprise Value of the index constituents.

Equity Cash Flow Multiple - equal to the weighted average Equity Cash Flow Multiple, where Equity Cash Flow Multiple is equal to Price Per Share divided by Adjusted Funds From Operations Per Share for most recent quarter annualized.

Weighted Avg Term Remaining - equal to the weighted average sector Debt Term Remaining, where Debt Term Remaining is calculated based on constituent weighted average outstanding debt balance maturities.

Top 10 Holdings Top 10 Tenant Industries Top 10 StatesW.P. Carey Inc.(WPC) 8.41% Industrial 23.4% Texas 8.40%

Realty Income Corp (O) 7.86% Retail 12.1% New York 6.50%

National Retail Properties (NNN) 6.97% Hotel, Gaming and Leisure 10.6% Ohio 4.70%

Safehold Inc (SAFE) 6.14% Convenience Stores 7.40% Michigan 4.20%

VEREIT Inc. (VER) 6.05% Restaurants 7.10% Florida 4.10%

Innovative Inds PPTY (IIPR) 5.42% Auto Retail and Services 4.10% Illinois 4.10%

Lexington Realty Tru (LXP) 5.41% Freight and Logistics 3.60% California 4.00%

STORE Capital (STOR) 5.38% Financial and Prof. Services 2.90% Pennsylvania 3.50%

Agree Realty CP (ADC) 5.00% Media, Tech, and Telecomm. 2.70% Nevada 3.40%

2.80%

2Inception Date: 3/22/19 - Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Performance data current to the most recent month-end can be obtained by calling 800-617-0004. Performance for periods greater than one year are annualized.

1 Month 6 Month 1 Year Since Inception2

NETL NAV 8.60% -28.56% -27.01% -16.38% -13.97%

8.75% -28.38% -26.91% -16.24% -13.72%

Ticker NETL Index Provider Fundamental Income

CUSIP 26922A248 Re-balance Schedule Quarterly

Exchange NYSE Advisor ETC LLC

Inception Date 3/22/19 Administrator U.S. Bank Global Fund Services

Expense Ratio 0.60% Distributor Quasar Distributors, LLC

Underlying Index NETLXT Distribution Quarterly (1099)

Index Calculator NASDAQ Global Indexes 30-Day SEC Yield 6.64%

Portfolio Exposures (as of 3/31/2020)

Fund Facts

Performance (Month End as of 4/31/2020)

(as of 3/31/2020)

Note: Top 100 Tenant Representations based on constituent disclosures in most recent company filings including 10Ks, 10Qs, supplementals and presentations. Weights based on NETLXT as of 3/31/2020 Ratings represent tenant ultimate parent company ratings (Source: Capital IQ)

1 Month 6 Month 1 Year Since Inception2

NETL NAV -27.82% -30.65% -30.22% -22.83% -22.08%

-27.82% -30.62% -30.20% -22.71% -21.94%

Performance (Quarter End as of 3/31/2020)

NETL Market Price

NETL Market Price

3 Month

3 Month

Indtl Logi Pt Sh Ben (ILPT) 4.89% Movie Theaters 2.40% Georgia

Fund holdings and sector allocations are subject to change and should not be considered a recommendation to buy or sell any security.