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report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report semi-annual shareholder report PGIM Rock ETF Trust 2026-04-30 PGIM S&P 500 Buffer 12 ETF - January PGIM S&P 500 Buffer 12 ETF - January JANP CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469592;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - January (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - January</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATIST<div style="display:inline;">I</div>CS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">42,051,544</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table> 42051544 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">103.2%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.9%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"> <div style="line-height:13.0pt;text-align:left"> <div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"> <div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.1)%</div></div> </div> </div> </td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.032 0.009 -0.041 1 0 1 PGIM S&P 500 Buffer 20 ETF - January PGIM S&P 500 Buffer 20 ETF - January PBJA CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469706;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - January (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - January</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">57,107,142</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table></div> 57107142 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">104.3%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(5.0)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.043 0.007 -0.05 1 0 1 PGIM S&P 500 Buffer 12 ETF - February PGIM S&P 500 Buffer 12 ETF - February FEBP CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469729;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - February (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - February</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table></div> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">20,621,049</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table></div> 20621049 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">103.3%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.9%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(4.2)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.033 0.009 -0.042 1 0 1 PGIM S&P 500 Buffer 20 ETF - February PGIM S&P 500 Buffer 20 ETF - February PBFB CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8469760;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - February (the “Fund”) for the period </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - February</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">33,875,185</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 33875185 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.0%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.9%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.04 0.009 -0.049 1 0 1 PGIM S&P 500 Buffer 12 ETF - March PGIM S&P 500 Buffer 12 ETF - March MRCP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8469794;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - March (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - March</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">20,505,912</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 20505912 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.0%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.0)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.04 0.01 -0.05 1 0 1 PGIM S&P 500 Buffer 20 ETF - March PGIM S&P 500 Buffer 20 ETF - March PBMR CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8469819;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - March (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - March</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">34,088,002</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 34088002 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.9%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.049 0.01 -0.059 1 0 1 PGIM S&P 500 Buffer 12 ETF - April PGIM S&P 500 Buffer 12 ETF - April APRP CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469852;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - April (the “Fund”) for the period of </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">November 1, 2025 to April 30, 2026</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - April</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table></div> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">22,674,125</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table></div> 22674125 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">106.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(7.1)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.061 0.01 -0.071 1 0 1 PGIM S&P 500 Buffer 20 ETF - April PGIM S&P 500 Buffer 20 ETF - April PBAP CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469908;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - April (the “Fund”) for the period of </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div> <div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - April</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></div></div></td></tr></table> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">29,028,021</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></div></td></tr></table> 29028021 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"></div></div> <div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">108.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(8.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div> <div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.081 0.008 -0.089 1 0 1 PGIM S&P 500 Buffer 12 ETF - May PGIM S&P 500 Buffer 12 ETF - May MAYP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8469938;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - May (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - May</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">16,794,449</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 16794449 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.0)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">99.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Other assets in excess of liabilities</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.2%</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table> 1.041 0.007 -0.05 0.998 0.002 1 PGIM S&P 500 Buffer 20 ETF - May PGIM S&P 500 Buffer 20 ETF - May PBMY CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470882;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - May (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - May</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">18,374,960</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 18374960 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.6%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.0)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">99.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Other assets in excess of liabilities</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.3%</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></div></div></td></tr></table> 1.041 0.006 -0.05 0.997 0.003 1 PGIM S&P 500 Buffer 12 ETF - June PGIM S&P 500 Buffer 12 ETF - June JUNP CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8470601;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - June (the “Fund”) for the period of </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"> <div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div> </div> <div style="line-height:12.0pt;margin-top:1pt;text-align:left"> <div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> <div style="line-height:1.0pt;margin-top:5pt;text-align:left"> <div style="margin-top:5pt"></div> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"> <div style="line-height:13.0pt;text-align:left"> <div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div> <div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div> </div> </td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"> <div style="line-height:13.0pt;text-align:left"> <div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div> <div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div> </div> </td> </tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - June</div></div> </div> </td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$25</div></div> </div> </td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div> </div> </td> </tr> </table> 25 0.005 <div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"> <div style="line-height:13pt;text-align:left"> <div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div> </div> </td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"> <div style="line-height:13pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">26,219,021</div></div> </div> </td> </tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"> <div style="line-height:13pt;text-align:left"> <div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div> </div> </td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"> <div style="line-height:13pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div> </div> </td> </tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"> <div style="line-height:13pt;text-align:left"> <div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div> </div> </td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"> <div style="line-height:13pt;text-align:left"> <div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div> </div> </td> </tr> </table> 26219021 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <div style="line-height:1.0pt;margin-top:5pt;text-align:left"> <div style="margin-top:5pt"></div> </div> <div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div> </div> </td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div> <div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div> </div> </td> </tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div> </div> </td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">106.9%</div></div> </div> </td> </tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div> </div> </td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.4%</div></div> </div> </td> </tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div> </div> </td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"> <div style="line-height:13.0pt;text-align:left"> <div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"> <div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(7.3)%</div></div> </div> </div> </td> </tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div> </div> </td> </tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div> </div> </td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"> <div style="line-height:13.0pt;text-align:left"> <div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"> <div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div> </div> </div> </td> </tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"> <div style="line-height:0.5pt;text-align:left"> <div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> </div> </td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"> <div style="line-height:13.0pt;text-align:left"> <div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"> <div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div> </div> </div> </td> </tr> </table> </div> <div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div> </div> </td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div> </div> </td> </tr> </table> 1.069 0.004 -0.073 1 0 1 PGIM S&P 500 Buffer 20 ETF - June PGIM S&P 500 Buffer 20 ETF - June PBJN CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8470597;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - June (the “Fund”) for the period of </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - June</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">23,682,799</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></div></td></tr></table> 23682799 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">109.3%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(9.8)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.093 0.005 -0.098 1 0 1 PGIM S&P 500 Buffer 12 ETF - July PGIM S&P 500 Buffer 12 ETF - July JULP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470911;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - July (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - July</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">20,142,193</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 20142193 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.7%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.4)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.037 0.007 -0.044 1 0 1 PGIM S&P 500 Buffer 20 ETF - July PGIM S&P 500 Buffer 20 ETF - July PBJL CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470300;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - July (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - July</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">38,541,023</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 38541023 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">106.4%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.4%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(6.8)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.064 0.004 -0.068 1 0 1 PGIM S&P 500 Buffer 12 ETF - August PGIM S&P 500 Buffer 12 ETF - August AUGP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470917;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - August (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - August</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">19,042,208</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 19042208 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">102.9%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(3.7)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.029 0.008 -0.037 1 0 1 PGIM S&P 500 Buffer 20 ETF - August PGIM S&P 500 Buffer 20 ETF - August PBAU CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470606;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - August (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - August</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">23,137,408</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 23137408 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.8%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.5)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.048 0.007 -0.055 1 0 1 PGIM S&P 500 Buffer 12 ETF - September PGIM S&P 500 Buffer 12 ETF - September SEPP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470925;display:inline;">semiannual shareholder report </div>contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - September (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - September</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">19,991,068</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 19991068 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.2%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(3.7)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.032 0.005 -0.037 1 0 1 PGIM S&P 500 Buffer 20 ETF - September PGIM S&P 500 Buffer 20 ETF - September PBSE CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470941;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - September (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - September</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">24,244,245</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 24244245 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.7%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.4)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.047 0.007 -0.054 1 0 1 PGIM S&P 500 Buffer 12 ETF - October PGIM S&P 500 Buffer 12 ETF - October OCTP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470916;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - October (the “Fund”) for the period </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - October</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">26,128,291</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 26128291 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">102.4%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.6%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(3.0)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.024 0.006 -0.03 1 0 1 PGIM S&P 500 Buffer 20 ETF - October PGIM S&P 500 Buffer 20 ETF - October PBOC CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470926;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - October (the “Fund”) for the period </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - October</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">36,059,129</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 36059129 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.4%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.1)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"> <div style="line-height:12pt;text-align:left"> <div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other <div style="display:inline;">assets</div></div></div> </div> </td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"> <div style="line-height:13.0pt;text-align:left"> <div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"> <div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div> </div> </div> </td> </tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.034 0.007 -0.041 1 0 1 PGIM S&P 500 Buffer 12 ETF - November PGIM S&P 500 Buffer 12 ETF - November NOVP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470324;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - November (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - November</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">25,947,190</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 25947190 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">101.8%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.6%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(2.4)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.018 0.006 -0.024 1 0 1 PGIM S&P 500 Buffer 20 ETF - November PGIM S&P 500 Buffer 20 ETF - November PBNV CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470927;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - November (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - November</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">28,805,980</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 28805980 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">102.3%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(3.1)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.023 0.008 -0.031 1 0 1 PGIM S&P 500 Buffer 12 ETF - December PGIM S&P 500 Buffer 12 ETF - December DECP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470579;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 12 ETF - December (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 12 ETF - December</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">29,440,625</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 29440625 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">102.5%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.6%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(3.1)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.025 0.006 -0.031 1 0 1 PGIM S&P 500 Buffer 20 ETF - December PGIM S&P 500 Buffer 20 ETF - December PBDE CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470946;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Buffer 20 ETF - December (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Buffer 20 ETF - December</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">35,810,262</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 35810262 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.2%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(3.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.032 0.007 -0.039 1 0 1 PGIM Laddered S&P 500 Buffer 12 ETF PGIM Laddered S&P 500 Buffer 12 ETF BUFP CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469339;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Laddered S&amp;P 500 Buffer 12 ETF (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM Laddered S&amp;P 500 Buffer 12 ETF</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$0</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.00%</div></div></div></td></tr></table> 0 0 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 22.1pt; letter-spacing: 0px; top: 0px;display:inline;">164,863,527</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">13</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table> 164863527 13 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Exchange-Traded Fund - Equity</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">99.9%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.8%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.7)%</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></div></div></td></tr></table> 0.999 0.008 1.007 -0.007 1 PGIM Laddered S&P 500 Buffer 20 ETF PGIM Laddered S&P 500 Buffer 20 ETF PBFR CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469363;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Laddered S&amp;P 500 Buffer 20 ETF (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us <div style="display:inline;">at </div><div style="display:inline;"> </div><div style="display:inline;"> </div><div style="display:inline;"> </div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM Laddered S&amp;P 500 Buffer 20 ETF</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$0</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.00%</div></div></div></td></tr></table> 0 0 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 22.1pt; letter-spacing: 0px; top: 0px;display:inline;">136,349,917</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">13</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table> 136349917 13 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Exchange-Traded Fund - Equity</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.2%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.2%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.2)%</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table> 1 0.002 1.002 -0.002 1 PGIM Nasdaq-100 Buffer 12 ETF - January PGIM Nasdaq-100 Buffer 12 ETF - January PQJA NASDAQ <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8470293;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Nasdaq-100 Buffer 12 ETF - January (the “Fund”) for the </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM Nasdaq-100 Buffer 12 ETF - January</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">25,129,185</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 25129185 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">105.9%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(6.7)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.059 0.008 -0.067 1 0 1 PGIM Nasdaq-100 Buffer 12 ETF - April PGIM Nasdaq-100 Buffer 12 ETF - April PQAP NASDAQ <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8470842;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Nasdaq-100 Buffer 12 ETF - April (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM Nasdaq-100 Buffer 12 ETF - April</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">0.50%</div></div></div></td></tr></table> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 26.63pt; letter-spacing: 0px; top: 0px;display:inline;">21,863,269</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">0%</div></div></div></td></tr></table> 21863269 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">110.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(11.1)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.101 0.01 -0.111 1 0 1 PGIM Nasdaq-100 Buffer 12 ETF - July PGIM Nasdaq-100 Buffer 12 ETF - July PQJL NASDAQ <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470302;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Nasdaq-100 Buffer 12 ETF - July (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM Nasdaq-100 Buffer 12 ETF - July</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">16,779,558</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 16779558 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">106.0%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(6.5)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.06 0.005 -0.065 1 0 1 PGIM Nasdaq-100 Buffer 12 ETF - October PGIM Nasdaq-100 Buffer 12 ETF - October PQOC NASDAQ <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470596;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Nasdaq-100 Buffer 12 ETF - October (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM Nasdaq-100 Buffer 12 ETF - October</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$26</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table> 26 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">18,400,705</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 18400705 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">104.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.041 0.008 -0.049 1 0 1 PGIM Laddered Nasdaq-100 Buffer 12 ETF PGIM Laddered Nasdaq-100 Buffer 12 ETF PBQQ NASDAQ <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8469348;display:inline;">semiannual shareholder report</div> contains important information about the PGIM Laddered Nasdaq-100 Buffer 12 ETF (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM Laddered Nasdaq-100 Buffer 12 ETF</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$0</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.00%</div></div></div></td></tr></table> 0 0 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:26.63pt;display:inline;">61,487,034</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">5</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table> 61487034 5 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Exchange-Traded Fund - Equity</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.5%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.5)%</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table> 1 0.005 1.005 0.005 1 PGIM S&P 500 Max Buffer ETF - January PGIM S&P 500 Max Buffer ETF - January PMJA CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8470938;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - January (the “Fund”) for the period </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - January</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></div></div></td></tr></table> 25 0.005 <div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 31.16pt; letter-spacing: 0px; top: 0px;display:inline;">4,892,447</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></div></td></tr></table> 4892447 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">105.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.2%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(6.3)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.051 0.012 -0.063 1 0 1 PGIM S&P 500 Max Buffer ETF - February PGIM S&P 500 Max Buffer ETF - February PMFB CboeBZX <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">This <div style="-sec-ix-hidden:hidden8469635;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - February (the “Fund”) for the </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">You can find additional information about the Fund at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">pgim.com/etf-fund-documents</div></div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">. You can also request this information by contacting us at </div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 6pt; margin-right: 6pt; text-align: center; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - February</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></div></div></td></tr></table> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">$</div><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 31.16pt; letter-spacing: 0px; top: 0px;display:inline;">5,948,174</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></div></td></tr></table> 5948174 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 12pt; text-transform: uppercase; letter-spacing: 0px; top: 0px;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color: rgb(0, 0, 0); font-family: Arial; font-size: 1pt; line-height: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Investment Allocation</div></div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">% of Net </div></div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(255, 255, 255); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bolder;display:inline;">Assets</div></div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">104.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">1.6%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(5.7)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left: 3pt; text-align: left; white-space: nowrap; font-size: 10pt;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 10pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="margin-top:0.0pt"></div><div style="line-height: 1pt; text-align: right; font-size: 1pt; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 1pt; line-height: 1pt; background: none; text-decoration: none; letter-spacing: 0px; top: 0px;display:inline;"> </div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color: rgb(0, 0, 0); font-family: &quot;Arial Narrow&quot;; font-size: 8pt; margin-left: 0pt; letter-spacing: 0px; top: 0px;display:inline;">Less than 0.05%</div></div></div></td></tr></table> 1.041 0.016 -0.057 1 0 1 PGIM S&P 500 Max Buffer ETF - March PGIM S&P 500 Max Buffer ETF - March PMMR CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470485;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - March (the “Fund”) for the period </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - March</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">5,376,466</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 5376466 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">105.8%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(7.3)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.058 0.015 -0.073 1 0 1 PGIM S&P 500 Max Buffer ETF - April PGIM S&P 500 Max Buffer ETF - April PMAP CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470473;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - April (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - April</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">5,144,133</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 5144133 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">109.7%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(11.4)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.097 0.017 -0.114 1 0 1 PGIM S&P 500 Max Buffer ETF - May PGIM S&P 500 Max Buffer ETF - May PMMY CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470467;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - May (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - May</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">2,659,601</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 2659601 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.0%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0.7%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">98.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Other assets in excess of liabilities</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.2%</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div> 1.03 0.007 -0.049 0.988 0.012 1 PGIM S&P 500 Max Buffer ETF - June PGIM S&P 500 Max Buffer ETF - June PMJN CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470962;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - June (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - June</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">3,195,084</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 3195084 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">112.9%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(13.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.129 0.01 -0.139 1 0 1 PGIM S&P 500 Max Buffer ETF - July PGIM S&P 500 Max Buffer ETF - July PMJL CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470958;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - July (the “Fund”) for the period of </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - July</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">2,900,786</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 2900786 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">107.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">2.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(9.6)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.071 0.025 -0.096 1 0 1 PGIM S&P 500 Max Buffer ETF - August PGIM S&P 500 Max Buffer ETF - August PMAU CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470329;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - August (the “Fund”) for the period </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - August</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">3,680,204</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 3680204 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">106.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.8%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(7.9)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.061 0.018 -0.079 1 0 1 PGIM S&P 500 Max Buffer ETF - September PGIM S&P 500 Max Buffer ETF - September PMSE CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470977;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - September (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - September</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">4,162,553</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 4162553 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">106.1%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(7.6)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.061 0.015 -0.076 1 0 1 PGIM S&P 500 Max Buffer ETF - October PGIM S&P 500 Max Buffer ETF - October PMOC CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470460;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - October (the “Fund”) for the period </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - October</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">3,604,927</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 3604927 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.3%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">2.5%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.8)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.033 0.025 -0.058 1 0 1 PGIM S&P 500 Max Buffer ETF - November PGIM S&P 500 Max Buffer ETF - November PMNV CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8470456;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - November (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 1, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - November</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$25</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 25 0.005 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">5,386,046</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 5386046 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.0%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">1.6%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(4.6)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.03 0.016 -0.046 1 0 1 PGIM S&P 500 Max Buffer ETF - December PGIM S&P 500 Max Buffer ETF - December PMDE CboeBZX <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">This <div style="-sec-ix-hidden:hidden8469549;display:inline;">semiannual shareholder report</div> contains important information about the PGIM S&amp;P 500 Max Buffer ETF - December (the “Fund”) for the </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">period of November 28, 2025 to April 30, 2026.</div> <div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">You can find additional information about the Fund at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">pgim.com/etf-fund-documents</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">. You can also request this information by contacting us at </div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(888) 247-8090 or (973) 802-2093 from outside the U.S.</div> pgim.com/etf-fund-documents (888) 247-8090 or (973) 802-2093 <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?</div></div></div><div style="line-height:12.0pt;margin-top:1pt;text-align:left"><div style="margin-top:1pt"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">(Based on a hypothetical $10,000 investment)</div><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:27.5pt"> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;"> </div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs of a</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$10,000 investment</div></div></div></td> <td style="border-bottom:0.5pt solid #000000;padding-bottom:2.5pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:13.0pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">Costs paid as a percentage</div></div><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">of a $10,000 investment</div></div></div></td></tr> <tr style="height:14.5pt"> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:333.85pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">PGIM S&amp;P 500 Max Buffer ETF - December</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:82.8pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$21</div></div></div></td> <td style="padding-bottom:3pt;padding-top:2.5pt;vertical-align:Top;width:111.35pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:6pt;margin-right:6pt;text-align:Center;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">0.50%</div></div></div></td></tr></table></div> 21 0.005 This report covers a period less than six months. Expenses for a six-month period would be higher than the figures shown. <div style="line-height:14.0pt;margin-top:12pt;text-align:left"><div style="margin-top:12pt"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME KEY FUND STATISTICS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Fund’s net assets</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;display:inline;">$</div><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:31.16pt;display:inline;">7,152,641</div></div></div></td></tr> <tr style="height:15pt"> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Number of fund holdings</div></div></div></td> <td style="padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">4</div></div></div></td></tr> <tr style="height:14pt"> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:449pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Portfolio turnover rate for the period</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.5pt;padding-top:4pt;vertical-align:Bottom;width:79pt"><div style="line-height:13pt;text-align:left"><div style="margin-left:3pt;margin-right:4pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">0%</div></div></div></td></tr></table></div> 7152641 4 0 <div style="line-height:14.0pt;text-align:left"><div style="color:#000000;font-family:Arial;font-size:12pt;text-transform:uppercase;display:inline;">WHAT ARE SOME CHARACTERISTICS OF THE FUND’S HOLDINGS AS OF 4/30/2026?</div><div style="color:#000000;font-family:Arial;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="line-height:1.0pt;margin-top:5pt;text-align:left"><div style="margin-top:5pt"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:30pt"> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.0pt;display:inline;">Investment Allocation</div></div></div></td> <td style="background-color:#545454;padding-bottom:5pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;margin-left:0.00pt;display:inline;">% of Net </div></div><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#FFFFFF;font-family:Arial Narrow;font-size:10pt;font-weight:bold;display:inline;">Assets</div></div></div></td></tr> <tr style="height:16pt"> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Purchased</div></div></div></td> <td style="padding-bottom:4pt;padding-top:5pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">103.3%</div></div></div></td></tr> <tr style="height:15pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Affiliated Mutual Fund - Short-Term Investment</div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">2.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Options Written</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(5.3)%</div></div></div></div></td></tr> <tr style="height:16.75pt"> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:4pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:12pt;text-align:left"><div style="margin-right:3pt;text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></td></tr> <tr style="height:16.75pt"> <td style="padding-bottom:5.75pt;padding-top:4pt;vertical-align:Bottom;width:465pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;">Liabilities in excess of other assets</div></div></div></td> <td style="padding-bottom:1.75pt;padding-top:4pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:0.5pt solid #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">(0.0)%*</div></div></div></div></td></tr> <tr style="height:19.75pt"> <td style="background-color:#EFEFEF;padding-bottom:1pt;padding-top:5.75pt;vertical-align:Bottom;width:465pt"><div style="line-height:0.5pt;text-align:left"><div style="margin-left:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.0pt;display:inline;"> </div></div></div></td> <td style="background-color:#EFEFEF;padding-bottom:1.75pt;padding-top:5.75pt;vertical-align:Bottom;width:63pt"><div style="line-height:13.0pt;text-align:left"><div style="border-bottom:3pt double #000000;margin-left:0%;margin-right:2.38%;padding-bottom:1pt"><div style="text-align:Right;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:10pt;margin-left:0.00pt;display:inline;">100.0%</div></div></div></div></td></tr></table></div><div style="line-height:1.0pt;text-align:right"><div style="color:#000000;font-family:Arial Narrow;font-size:1pt;line-height:1pt;display:inline;"> </div></div><div style="margin-top:0.0pt"> <table cellpadding="0" cellspacing="0" style="text-align:start; empty-cells:show;width:528pt"> <tr style="height:auto"> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:8.53pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">*</div></div></div></td> <td style="padding-bottom:1.5pt;padding-top:1.5pt;vertical-align:Top;width:519.47pt"><div style="line-height:12pt;text-align:left"><div style="margin-left:3pt;margin-right:3pt;text-align:Left;white-space:nowrap"><div style="color:#000000;font-family:Arial Narrow;font-size:8pt;margin-left:0.0pt;display:inline;">Less than 0.05%</div></div></div></td></tr></table></div> 1.033 0.02 -0.053 1 0 1 Less than 0.05%