Polen Focus Growth ETF (PCLG)

About Polen Focus Growth ETF

The Polen Capital Focus Growth ETF (PCLG) seeks to deliver the benefits of our time-tested Focus Growth strategy in a cost-effective, tax-efficient ETF format. PCLG is focused on generating long-term growth by building a concentrated portfolio of competitively advantaged businesses with potential for sustainable, above-average earnings growth.

Performance

Fund Performance (%) (as of TBD)

	1M	3M	YTD	1Yr	3Yr	5Yr	10Yr	Inception
Polen Focus Growth ETF Fund (NAV)	-	-	-	-	-	-	-	-
Polen Focus Growth ETF Fund (Market Price)	-	-	-	-	-	-	-	-
S&P 500	-	-	-	-	-	-	-	-

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. 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. For the most current month-end performance data, please call 1.844.363.4898.

Historical NAV & Market Price

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The inception date for this share class is 9-30-2025. The earliest date for which data is available is 9-30-2025.

Premium/Discount

Number of Days At:

Premium
NAV
Discount

Premium/Discount to NAV

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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

GICS Sector Exposure (% of Portfolio)

TBD

The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. ("S&P") and is licensed for use by Polen Capital Management, LLC. Neither MSCI, S&P nor any third party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any of such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Regional Exposure (% of Portfolio)

TBD

Fund Information

Asset Class	U.S. Equity Large Cap Growth
Investment Style	Active
Benchmark Index	S&P 500, Russell 1000 Growth
Exchange	NYSE Arca
Ticker	PCLG
CUSIP	36087T395
Inception Date	9-30-2025
Distribution Frequency	Monthly
Total Expense Ratio	0.69
Fee Waiver	0.20
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	-

The Adviser has contractually agreed to waive 0.20% (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.

Disclosures

Holdings are subject to change. The top holdings, as well as other data, are as of the period indicated and should not be considered a recommendation to purchase, hold, or sell any particular security. There is no assurance that any of the securities noted will remain in the Fund at the time you receive this fact sheet. It should not be assumed that any of the holdings discussed were or will prove to be profitable or that the investment recommendations or decisions we make in the future will be profitable. A list of all securities held in this Fund in the prior year is available upon request.

Investors should carefully consider the investment objectives, risks, chares, and expenses of the Polen Floating Rate Income Exchange Traded Fund before investing. This material must be preceded or accompanied by a prospectus. The prospectus and other information about the Fund may be obtained by calling 1-888-678-6024 or visiting the Materials tab. It should be read carefully before investing. All performance is calculated in U.S. Dollars

Risks:

ETF fund investing involves risk, including possible loss of principal. It is possible to lose money on an investment in the Fund. ETFs are subject to additional risks that do not apply to conventional funds, including the risks that the market price of an ETF’s shares may trade at a premium or discount to its net asset value, an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact an ETF’s ability to sell its shares. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns

Limited History of Operations The Fund is recently organized with a limited operating history, and there can be no assurance that the Fund will grow to or maintain an economically viable size

Equity Securities Risk: Stock markets are volatile. The price of equity securities fluctuates based on changes in a company’s financial condition, historical and prospective earnings of the company, interest rates, investor perceptions and overall market and economic conditions. The prices of securities change in response to many factors including the value of its assets

Growth Style Risk: Growth stocks may be more volatile than other stocks because they are generally more sensitive to investor perceptions and market movements. In addition, growth stocks as a group may be out of favor at times and underperform the overall equity market for long periods while the market concentrates on other types of stocks, such as “value” stocks.

Large Cap Risk: Large cap risk is the risk that stocks of larger companies may underperform relative to those of small and mid-sized companies. Large cap companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes, and also may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.

Non-Diversification Risk: Because the Fund is non-diversified and may invest a larger portion of its assets in the securities of a single issuer than a diversified fund, an investment in the Fund could fluctuate in value more than an investment in a diversified fund.

Polen Growth Fund is distributed by Foreside Funds Distributors LLC., not affiliated with Polen Capital Management

Benchmarks:

The S&P 500® Index is a market capitalization weighted index that measures 500 common equities that are generally representative of the U.S. stock market. The index is maintained by S&P Dow Jones Indices. It is impossible to invest directly in an index. The Russell 1000® Growth Index is a market capitalization weighted index that measures the performance of the large-cap growth segment of the U.S. equity universe. It includes Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values. The index is maintained by the FTSE Russell, a subsidiary of the London Stock Exchange Group. The performance of an index does not reflect any transaction costs, management fees, or taxes.

Definitions:

30-Day SEC Yield: a standardized calculation that reflects the dividends and interest earned by a fund over the past 30 days, net of expenses, and assumes the income is earned at the same rate over a 12-month period.

30-Day SEC Unsubsidized Yield: is calculated similarly to the 30-Day SEC Yield, except it excludes the impact of any fee waivers or reimbursements by the fund's investment advisor. Active Share: Active share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index.

Annual Turnover: The percentage of the portfolio’s holdings that have been replaced in a given year.

Net Debt/FCF ex lease: A measure of a company's ability to pay its obligations with free cash flow excluding leases

P/E Forward: Denotes the weighted harmonic average of all the P/E’s of the securities in the fund’s portfolio.

Polen Long Term EPS Growth Estimate: A Polen Capital estimate of projected long-term earnings growth rates (Earnings Growth is not a measure of future performance).

Return on Invested Capital ex Cash: Assesses an investee company’s efficiency at allocating the capital and is measured by operating profit after taxes divided by investment capital excluding cash.

Weighted Average Market Cap: A weighted average of the price of each security multiplied by the number of shares outstanding in all the securities in the portfolio