Exhibit 99(e)(5)
Amendment #1 to the Distribution Agreement
This Amendment #1 to the Distribution Agreement is entered into on September 10, 2025 (the “Amendment”) by and among each of Elevation Series Trust, a Delaware statutory trust (the “Trust”), on behalf of each of its series listed on Exhibit A hereto (each, a “Fund” and collectively, the “Funds”), and Paralel Distributors LLC, a Delaware limited liability company (the “Distributor”).
WHEREAS, the Distributor and the Trust a previously entered into the Distribution Agreement, dated as of June 30, 2025 (as amended, restated, modified or supplemented from time to time, the “Agreement”) pursuant to which it provides underwriting and other services to the Funds; and
WHEREAS, the Distributor and the Trust wish to amend the amended Exhibit A to the Agreement to reflect the addition of certain new funds (each, a “New Fund”).
NOW THEREFORE, in consideration of the mutual promises and undertakings herein contained, the parties agree as follows:
| 1. | Exhibit A of the Agreement is superseded and replaced with the Exhibit A attached hereto, with the effective date of each New Fund as set forth within. |
| 2. | The Agreement, as modified herein, shall continue in full force and effect, and nothing herein contained shall be construed as a waiver or modification of existing rights under the Agreement, except as such rights are expressly modified hereby. |
[Signature
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
| ELEVATION SERIES TRUST | |||
| A Delaware statutory trust | |||
| By: | /s/ Bradley Swenson | ||
| Name: | Bradley Swenson | ||
| Title: | President | ||
| PARALEL DISTRIBUTORS LLC | |||
| A Delaware limited liability company | |||
| By: | /s/Jeremy May | ||
| Name: | Jeremy May | ||
| Title: | Chief Executive Officer | ||
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EXHIBIT A
Funds
| Fund Name | Ticker | Effective Date |
| Disciplined Growth Investors Fund | DGIFX | June 30, 2025 |
| Vulcan Value Partners Fund (Investor Class) | VVPLX | September 12, 2025 |
| Vulcan Value Partners Fund (Institutional Class) | VVILX | September 12, 2025 |
| Vulcan Value Partners Small Cap Fund (Investor Class) | VVPSX | September 12, 2025 |
| Vulcan Value Partners Small Cap Fund (Institutional Class) | VVISX | September 12, 2025 |
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