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Preliminary Proxy Statement.
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Confidential, for use of the Commission Only (as permitted by Rule 14a-6(e)(2)).
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Definitive Proxy Statement.
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[X]
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Definitive Additional Materials.
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Soliciting Material Pursuant to § 240.14a-12.
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(Name of Registrant as Specified In Its Charter)
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(1) Title of each class of securities to which transaction applies:
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(2) Aggregate number of securities to which transaction applies:
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(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the
amount on which the filing fee is calculated and state how it was determined):
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(4) Proposed maximum aggregate value of transaction:
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(5) Total fee paid:
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(1) Amount Previously Paid:
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(2) Form, Schedule or Registration Statement No.:
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(3) Filing Party:
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(4) Date Filed:
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DISTILLATE FUNDS
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CALL CENTER ANSWERING MACHINE SCRIPT
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Distillate Funds
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INBOUND LINE MESSAGING
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DISTILLATE FUNDS
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CALL CENTER OUTBOUND SCRIPT
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If YES or a positive response from the shareholder:
(Proceed to confirmation)
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If NO or a shareholder hasn’t received information:
Shareholders are being asked to approve a new investment sub-advisory agreement between Distillate Capital Partners, LLC and Vident Advisory, LLC and to approve a “manager of managers” arrangement that would
grant the applicable Fund and the Adviser greater flexibility to change sub-advisory arrangements without shareholder approval, subject to prior approval by the Trust’s Board of Trustees.
Approval of the Proposals by each Fund’s shareholders will not have any effect on the relevant Fund’s investment policies, strategies, and risks.
Approval of the Proposals by each Fund’s shareholders will not affect the fees or expenses payable by each Fund.
It is not anticipated that the Transaction or the approval of the New Sub-Advisory Agreement will impact Fund shareholders. The terms of the New Sub-Advisory Agreement are identical to the Current
Sub-Advisory Agreement except for date of effectiveness, term and the fact that the new entity is VA, also the portfolio management team for each Fund will not change if shareholders of a Fund approve the Proposals.
With that being said your Board of Trustees are recommending shareholders vote in favor. Would you like to vote along with the recommendations?
(Pause for shareholder’s response) (If Shareholder has additional questions refer to factsheet)
If shareholder still chooses not to vote:
I understand you do not wish to vote at this time thank you and have a great day.
If Yes or a positive response from the shareholder:
(Refer to factsheet)
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Shareholder Not Available:
We can be reached toll-free at 1-866-839-1852, Monday through Friday between the hours of 10:00AM and 10:00PM Eastern time. Your time today is
appreciated. Thank you and have a good day.
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Distillate Small Mid/Cap Cash Flow ETF
Distillate U.S. Fundamental Stability & Value ETF
Distillate International Fundamental Stability & Value ETF
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There will be NO increase in your management fees and expenses.
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Your investment will continue to be managed by Distillate Capital and your Portfolio Management team will be the same.
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Your investment will continue with an identical investment objective and investment strategies.
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Vote by Phone by calling 1-866-839-1852 and speaking with a proxy voting specialist today. Our representatives are available weekdays from 10 a.m. to 11 p.m. Eastern time. You may also call the
toll-free number on the enclosed card and follow the prompts.
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Vote by Internet by visiting the internet address on the enclosed card and following the instructions.
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Vote by Mail by completing, signing, and dating the enclosed card and returning it in the enclosed prepaid return envelope.
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