Polen Floating Rate Income ETF (PCFI)

About Polen Floating Rate Income ETF

The Polen Floating Rate Income ETF (PCFI) seeks to deliver the benefits of our proven Bank Loan strategy with the added flexibility and accessibility of the ETF format. Focused on generating high income, PCFI primarily invests in senior secured floating rate loans. This provides the security of seniority and collateral backing, along with a built-in hedge against rising interest rates.

Performance

Fund Performance (%) (as of TBD)

	1M	3M	YTD	1Yr	3Yr	5Yr	10Yr	Inception
Polen Floating Rate Income ETF Fund (NAV)	-	-	-	-	-	-	-	-
Polen Floating Rate Income ETF Fund (Market Price)	-	-	-	-	-	-	-	-
Morningstar LSTA	-	-	-	-	-	-	-	-

* The Fund has adopted the performance of the Institutional Class shares of the Polen Bank Loan Fund (the “Predecessor Fund”) as the result of a reorganization consummated after the close of business on March 21, 2025, in which the Fund acquired all or substantially all of the assets and all of the stated liabilities included in the financial statements of the Predecessor Fund (the “Reorganization”). Prior to the Reorganization, the Fund was a “shell” Fund with no assets and had not commenced operations. The Predecessor Fund commenced operations June 30, 2022.

Performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher. Periods over one-year are annualized. 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 the original cost. For the most current month-end performance data, please call 1.844.363.4898. A fund’s NAV is the sum of all its assets less any liabilities divided by the number of shares outstanding. Market Price refers to the current price at which shares of the ETF can be bought or sold on an exchange during trading hours. It is determined by supply and demand in the market and may differ slightly from the ETF's Net Asset Value (NAV), resulting in a premium or discount to the NAV. Polen Capital Credit (“Polen Credit”) has contractually agreed to limit the amount of the Fund’s Total Annual Fund Operating Expenses, exclusive of Distribution and Service (12b-1) fees, Shareholder Servicing expenses, brokerage expenses, interest expenses, taxes and extraordinary expenses, to an annual rate of 0.49% of the Fund’s average daily net assets for all share classes. Polen Credit has contractually agreed to waive 0.10% (10 basis points) of its management fee, which fee waiver will remain in place until August 31, 2026, unless the Board of Trustees approves its earlier termination. See the prospectus for more details.

**Preliminary assets as of 08-31-2025.

Historical NAV & Market Price

Download chart data

The inception date for this share class is 3-24-2025. The earliest date for which data is available is 3-24-2025.

Premium/Discount

Number of Days At:

Premium
NAV
Discount

Premium/Discount to NAV

Download chart data

The data presented represents past performance and cannot be used to predict future results.
ETF shares are bought and sold throughout the day on an exchange at market price (not NAV) through a brokerage account, and are not individually redeemed. An ETF premium or discount is the amount the ETF is trading above or below the reported NAV expressed as a percentage of the NAV. When the ETF's market price is greater than its NAV, it is said to be trading at a "premium" and the percentage expressed as a positive number. Conversely, when the market price is less than its NAV, it is said to be trading at a "discount" and the percentage expressed as a negative number. The premium or discount is calculated using the official closing price.

Portfolio

Credit Quality Allocation (% of Portfolio)

TBD

When calculating the credit quality breakdown, the manager uses ratings provided by Moody’s, S&P and/or Fitch. The manager will select the highest rating provided by the designated agencies. If only two designated agencies rate a bond, the rating is based on the highest of the two ratings. If only one of the designated agencies rates a bond, the rating is based on that one rating. Securities that are not rated by all three agencies are reflected as such. A credit rating is an assessment provided by a nationally recognized statistical rating organization (NRSRO), such as Moody’s, S&P and Fitch, which evaluates the credit worthiness of an issuer with respect to debt obligations. Credit ratings are measured using a scale that typically ranges from AAA (highest) to D (lowest) and are subject to change without notice. Additional information is available upon request.

Debt Type Allocation (% of Portfolio)

TBD

Fund Information

Asset Class	Leveraged Credit
Investment Style	Active
Benchmark Index
Exchange	NYSE Arca
Ticker	PCFI
CUSIP	36087T429
Inception Date	3-24-2025
Distribution Frequency	Monthly
Total Expense Ratio	0.59
Fee Waiver
Net Expense Ratio	0.49
Total Net Assets of Fund	TBD
30-Day Median Bid/Ask Spread	-
Shares Outstanding	-
Daily Volume	-
30-Day Avg Daily Volume	-

Assuming the inclusion of temporary expense waivers or reimbursements, the 30-day yield would have been 9.82%. In the absence of temporary expense waivers or reimbursements, the 30-day yield would have been 9.71%.

The Adviser has contractually agreed to waive 0.10% (10 basis points) of its investment advisory fee (the “Fee Waiver”). The Fee Waiver will remain in place for one year after the commencement of the Fund’s operations, unless the Board of Trustees approves its earlier termination. 30 Day Median Bid/Ask Spread: The median bid-ask spread is calculated by identifying national best bid and national best offer ("NBBO") for each Fund as of the end of each 10 second interval during each trading day of the last 30 calendar days, or since the listing date of each Fund if shorter, and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day. Daily Volume: The number of shares or contracts traded in a security or an entire market during a day. Each transaction between a buyer and seller contributes to the count of total volume.