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Polen Dividend Income ETF
Investment Objective
<p id="xdx_A89_eoef--ObjectivePrimaryTextBlock_zpZjwsH3eLLe" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The investment objective of the Polen Dividend
Income ETF (the “Fund”) is to provide capital appreciation with lower volatility and a higher dividend yield compared to the
S&P 500 Index.</p>
Fees and Expenses
<p id="xdx_A87_eoef--ExpenseNarrativeTextBlock_zLs9oPYXFYG5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This table describes the fees and expenses that
you may pay if you buy, hold, and sell shares of the Fund (“Shares”). <b>You may pay other fees, such as brokerage commissions
and other fees to financial intermediaries, which are not reflected in the table and Example below.</b></p>
Annual Fund Operating Expenses (expenses that you pay each year
as a percentage of the value of your investment):
0.0065
0.0000
0.0000
0.0065
“Other Expenses” are estimated for the current fiscal
year.
Example
<p id="xdx_A8B_eoef--ExpenseExampleNarrativeTextBlock_zvbSblDMtFDc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Example is intended to help you compare the
cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the
time periods indicated and then hold or redeem all of your Shares at the end of those periods. The Example also assumes that: (1) your
investment has a 5% return each year, and (2) the Fund’s operating expenses remain the same. Although your actual costs may be higher
or lower, based on these assumptions your costs would be:</p>
66
208
362
810
Portfolio Turnover
<p id="xdx_A88_eoef--PortfolioTurnoverTextBlock_zAEjupSQkWD1" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund pays transaction costs, such as commissions,
when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction
costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in annual fund operating
expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year ended December 31, 2025, the Predecessor
Fund's (defined below) portfolio turnover was <span id="xdx_90C_eoef--PortfolioTurnoverRate_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_z6qL1FLThBr9">52</span>% of the average value of its portfolio.</p>
0.52
Principal Investment Strategies
<p id="xdx_A88_eoef--StrategyNarrativeTextBlock_zHotPQXs82X2" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund is an actively-managed exchange-traded
fund (“ETF”) that seeks to achieve its investment objective by purchasing 25-35 stocks of companies that pay dividends
and expect to grow the dividends over time and are trading at attractive valuations at the time of the investment. The Fund’s
investment adviser, Opal Capital LLC (the “Adviser”), and sub-adviser, Polen Capital Management, LLC (the “Sub-Adviser”),
will seek to invest in such companies that are established businesses with high cash flow, stable revenue streams, and more disciplined
capital reinvestment programs which may, in turn, experience lower volatility relative to the overall equity market. The Adviser
and Sub-Adviser will focus on companies whose stock is listed on a U.S. exchange with market capitalizations greater than $8 billion,
but may include companies with market capitalizations of less than $8 billion if their dividend yields are above the market average.
The Adviser uses the S&P 500 dividend yield to determine the market average but also applies a $2 billion market capitalization
floor to companies qualifying for this market average exception. The Adviser and Sub-Adviser will select companies for the Fund
that, in the Sub-Adviser’s determination, provide the best combination of dividend yield with potential for dividend growth
and are currently under-valued in the market. <span id="xdx_907_eoef--StrategyPortfolioConcentration_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_z8ObBXHH7MA6">Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings
for investment purposes, will be invested in dividend paying equity securities, including common stocks and sponsored and/or unsponsored
American Depositary Receipts (“ADRs”).</span></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span> </span></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Adviser makes its initial identification of
potential portfolio securities based on its assessment of a company’s ability and commitment to sustain and grow its dividends.
The Adviser seeks to identify such companies by utilizing a combination of quantitative and qualitative indicators of the company’s
financial position, growth opportunities, historical payouts, and management commentary, as well as the competitive landscape.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Adviser will then review the current market
valuation of these companies which the Adviser believes are under-valued. The Adviser first identifies “high quality companies,”
which are generally defined as companies with a sustainable competitive advantage, offering stable and growing free cash flows, and quality
management teams that have the capital discipline to distribute dividends to shareholders. The Adviser then selects companies whose stock
is trading at a valuation that it believes offers an opportunity to generate above average returns over time. The Adviser utilizes a variety
of metrics (e.g., price compared to earnings ratio, market capitalization compared to book value, free cash flow yield, etc.) in the valuation
process and seeks to identify companies that are attractively priced both in absolute terms and relative to their peers with a preference
of companies with higher free cash flow.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Sub-Adviser is responsible for
trading portfolio securities for the Fund, including offering operations services, trading execution services and capital markets
execution services.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund intends to elect to be, and intends to
qualify each year for treatment as, a regulated investment company (“RIC”) under Subchapter M of Subtitle A, Chapter 1, of
the Internal Revenue Code of 1986, as amended (the “Code”).</p>
Under normal circumstances, at least 80% of the Fund’s net assets, plus borrowings
for investment purposes, will be invested in dividend paying equity securities, including common stocks and sponsored and/or unsponsored
American Depositary Receipts (“ADRs”).
Loss of money is a risk of investing in the Fund.
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveManagementRiskMember_zzgGC8v4I1ya"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Active Management Risk. </b>The Fund is subject to management risk as an actively-managed investment
portfolio. The Adviser’s investment approach may fail to produce the intended result.</td></tr></table>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--AmericanDepositaryReceiptsADRsMember_zuupgfb2gsVl"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>American Depositary Receipts (“ADRs”). </b>ADRs may be subject to some of the same risks
as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In
a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees.
Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly
by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the
underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights
with respect to the deposited securities are not passed through.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Cyber Security Risk. </b>Cyber security risk is the risk of an unauthorized breach and access to Fund
assets, Fund or customer data (including private shareholder information), or proprietary information, or the risk of an incident occurring
that causes the Fund, the Adviser, the Sub-Adviser, custodian, transfer agent, distributor and other service providers and financial intermediaries
to suffer data breaches, data corruption or lose operational functionality or prevent Fund investors from purchasing, redeeming or exchanging
shares or receiving distributions. The use of artificial intelligence and machine learning could exacerbate these risks. The Fund and
the Adviser have limited ability to prevent or mitigate cyber security incidents affecting third-party service providers and such third-party
service providers may have limited indemnification obligations to the Fund or the Adviser. Successful cyber-attacks or other cyber-failures
or events affecting the Fund or its service providers may adversely impact and cause financial losses to the Fund or its shareholders.
Issuers of securities in which the Fund invests are also subject to cyber security risks, and the value of these securities could decline
if the issuers experience cyber-attacks or other cyber-failures.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
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<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Dividend Paying Risk. </b>While the Fund may hold stocks of companies that have historically paid a
high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Past dividend payments
are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions,
may perform worse than other investment strategies or the overall stock market. The Fund’s emphasis on dividend-paying companies
involves the risk that such companies may fall out of favor with investors and underperform the market.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Equity Securities Risk. </b>The Fund may invest in, or have exposure to, equity securities. Equity
securities tend to be more volatile than other investment choices, such as debt and money market instruments. The value of your investment
may decrease in response to overall stock market movements or the value of individual securities.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>ETF Investment Risk.</b> The Fund is an ETF, and, as a result of an ETF’s structure, it is exposed
to the following risks: “Authorized Participants, Market Makers and Liquidity Providers Concentration Risk,” “Cash Transactions
Risk,” “Secondary Market Trading Risk,” and “Shares May Trade at Prices Other Than NAV Risk.”</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Authorized Participants, Market Makers and Liquidity Providers Concentration Risk. </i>Only an
authorized participant may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of financial
institutions that are institutional investors and may act as authorized participants (“APs”). In addition, there may be a
limited number of market makers and/or liquidity providers in the marketplace. To the extent either of the following events occur, Shares
may trade at a material discount to net asset value (“NAV”) and possibly face delisting: (i) APs exit the business or otherwise
become unable to process creation and/or redemption orders and no other APs step forward to perform these services, or (ii) market makers
and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform
their functions. These events, among others, may lead to the Shares trading at a premium or discount to NAV. Thus, you may pay more (or
less) than the NAV when you buy Shares in the secondary market, and you may receive less (or more) than NAV when you sell those Shares
in the secondary market. A diminished market for an ETF’s shares substantially increases the risk that a shareholder may pay considerably
more or receive significantly less than the underlying value of the ETF shares bought or sold. In periods of market volatility, APs, market
makers and/or liquidity providers may be less willing to transact in Shares.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><i> </i></p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Secondary Market Trading Risk. </i>Although Shares are listed on a national securities exchange,
NYSE Arca, Inc. (the “Exchange”), and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that
an active or liquid trading market for them will develop or be maintained. In addition, trading in Shares on the Exchange may be halted.
Trading may be halted because of market conditions or for reasons that, in the view of the Exchange, make trading in the Fund inadvisable.
These may include: (a) the extent to which trading is not occurring in the securities and/or the financial instruments composing the Fund’s
portfolio; or (b) whether other unusual conditions or circumstances detrimental to the maintenance of a fair and orderly market are present.
During periods of market stress, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than
the NAV intra-day (discount). This risk is heightened in times of market volatility or periods of steep market declines.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Shares May Trade at Prices Other Than NAV Risk. </i>As with all ETFs, Shares may be bought and
sold in the secondary market at market prices. There is a risk that market prices for Fund Shares will vary significantly from the Fund’s
NAV.</td></tr></table>
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<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Large-Cap Companies Risk. </b>Larger, more established companies may be unable to respond quickly to
new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large-cap companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
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<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Mid-Cap Companies Risk. </b>Mid-cap companies may not have the management experience, financial resources,
product diversification and competitive strengths of large-cap companies and, therefore, their securities tend to be more volatile than
the securities of larger, more established companies, making them less liquid than other securities.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Market Risk. </b>The NAV of the Fund will change with changes in the market value of its portfolio
positions. The value of investments held by the Fund may increase or decrease in response to economic, political, financial, public health
crises (such as epidemics or pandemics) or other disruptive events (whether real, expected or perceived) in the U.S. and global markets.
Investors may lose money. Although the Fund will invest in stocks the Adviser believes to be undervalued, there is no guarantee that the
prices of these stocks will not move even lower.</td></tr></table>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--TaxRiskMember_z7kgU0Osrrgb"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Tax Risk. </b>The Fund intends to qualify annually to be treated as a RIC under the Code. To qualify
as a RIC under the Code, the Fund must invest in assets which produce the types of income specified in the Code and the Treasury regulations
(“Qualifying Income”) and satisfy certain diversification requirements. If the Fund were to fail to satisfy these tests, it
would become subject to tax at regular corporate tax rates and would not be entitled to a dividends paid deduction.</td></tr></table>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ValueInvestingRiskMember_zrOgn1UsrWpb"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><b>Value Investing Risk. </b>Value stocks may perform differently from the market as a whole and an investment
strategy purchasing these securities may cause the Fund to at times underperform equity funds that use other investment strategies. Value
stocks can react differently to political, economic, and industry developments than the market as a whole and other types of stocks. Value
stocks also may underperform the market for long periods of time.</td></tr></table>
Performance
<p id="xdx_A83_eoef--PerformanceNarrativeTextBlock_zcKDWCwd8pw4" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is currently contemplated that before
the Fund commences operation, substantially all of the assets of the Polen Dividend Income ETF, a series of Elevation Series Trust
(the “Predecessor Fund”) will be transferred to the Fund in a tax-free reorganization (the “Reorganization”).
If approved by shareholders of the Predecessor Fund, the Reorganization is expected to occur in the third quarter of 2026. Accordingly,
the Fund is the successor to the Predecessor Fund, and the performance information shown is that of the Predecessor Fund. The
Fund has an investment objective, strategies and policies substantially the same as the Predecessor Fund. The performance of the
Predecessor Fund reflects performance of its predecessor fund, the Opal Dividend Income ETF (the "Prior Predecessor Fund")
prior to June 13, 2025. The Prior Predecessor Fund was a series of the Listed Funds Trust, a Delaware statutory trust. The Prior
Predecessor Fund underwent a tax-free reorganization for federal income tax purposes and, as a result of the reorganization, it
became a new series as the Predecessor Fund in the Elevation Series Trust. The Prior Predecessor Fund had an investment objective,
strategies and policies that were, in all material respects, the same as those of the Predecessor Fund. The Predecessor Fund was
intended to be and operated as a continuation of the Prior Predecessor Fund.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_90B_eoef--PerformanceInformationIllustratesVariabilityOfReturns_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_zKfYcJ0SDMdl">The bar chart below illustrates the performance
of the Predecessor Fund, which has varied year by year and provides some indication of the risks of investing in the Fund.</span> The bar chart
assumes reinvestment of dividends and distributions.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The performance table below shows how
the Predecessor Fund’s average annual total returns for 1 year, 5 years and 10 years compare with those of a broad measure
of market performance. The performance information that follows reflects the performance of the investment adviser to the Predecessor
Fund. The Adviser served as the sub-adviser of the Prior Predecessor Fund and the Predecessor Fund, but the Prior Predecessor
Fund and the Predecessor Fund had a different investment adviser than the Fund. The returns shown below were generated under the
management of the former investment adviser. <span id="xdx_90A_eoef--PerformancePastDoesNotIndicateFuture_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_zV2EfoaOTzsl">The Predecessor Fund’s past performance (before and after taxes) is not necessarily
an indication of how the Fund will perform in the future.</span> Updated performance information, current through the most recent month
end will be available on the Fund's website at <span id="xdx_90A_eoef--PerformanceAvailabilityWebSiteAddress_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_z3JEkqxxjEbf">www.pathfinderetfs.com</span>.</p>
The bar chart below illustrates the performance
of the Predecessor Fund, which has varied year by year and provides some indication of the risks of investing in the Fund.
The Predecessor Fund’s past performance (before and after taxes) is not necessarily
an indication of how the Fund will perform in the future.
www.pathfinderetfs.com
Calendar
Year Total Returns
0.0365
-0.0073
0.1839
0.1663
<p id="xdx_A8C_eoef--BarChartClosingTextBlock_zCmOaPCOh8M5" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calendar <span id="xdx_90E_eoef--YearToDateReturnLabel_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zN6GaC8nyHw4">year-to-date return</span> of
the Predecessor Fund as of <span id="xdx_906_eoef--BarChartYearToDateReturnDate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zN2NtKa7AYS6">March 31, 2026</span> was <span id="xdx_90E_eoef--BarChartYearToDateReturn_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zPoaufMI40m4">3.21</span>%. During the periods shown in the bar chart, the <span id="xdx_905_eoef--HighestQuarterlyReturnLabel_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zKVvMdzEMrx5">highest return</span> for a quarter
was <span id="xdx_90D_eoef--BarChartHighestQuarterlyReturn_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zjrAoSkiPvTj">13.04</span>% during the quarter ended <span id="xdx_90A_eoef--BarChartHighestQuarterlyReturnDate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_z4fwfN2fyfZg">December 31, 2022</span> and the <span id="xdx_90E_eoef--LowestQuarterlyReturnLabel_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zaO0TCHyOXZh">lowest return</span> for a quarter was <span id="xdx_902_eoef--BarChartLowestQuarterlyReturn_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zSWoDsd3jbEf">-6.91</span>% during the quarter ended
<span id="xdx_908_eoef--BarChartLowestQuarterlyReturnDate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member__oef--ClassAxis__custom--C000277001Member_zvBsk1TSbimc">June 30, 2022</span>.</p>
year-to-date return
2026-03-31
0.0321
highest return
0.1304
2022-12-31
lowest return
-0.0691
2022-06-30
Average
Annual Total Returns for the Periods Ended December 31, 2025
2021-01-27
0.1663
0.1146
0.1588
0.1056
0.1033
0.0892
(reflects no deduction for fees, expenses, or taxes)
0.1788
0.1467
<p id="xdx_A8E_eoef--PerformanceTableClosingTextBlock_znYuDKMBQcQ8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_909_eoef--PerformanceTableUsesHighestFederalRate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_zAJfIzNJg8Ue">After-tax returns are calculated using
the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect
the impact of state and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from
those shown. <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106168Member_zccQWvovjg89">After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred arrangements such
as an individual retirement account (“IRA”) or other tax-advantaged accounts.</span> In certain cases, the figure representing
“Return After Taxes on Distributions and Sale of Shares” may be higher than the other return figures for the same
period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that
benefits the investor.</p>
After-tax returns are calculated using
the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect
the impact of state and local taxes.
After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred arrangements such
as an individual retirement account (“IRA”) or other tax-advantaged accounts.
Polen International Dividend Income ETF
Investment Objective
<p id="xdx_A82_eoef--ObjectivePrimaryTextBlock_zDmnILXA6o2i" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The investment objective of the Polen International
Dividend Income ETF (the “Fund”) is to provide capital appreciation with lower volatility and a higher dividend yield compared
to the MSCI ACWI ex USA High Dividend Yield Total Return Index.</p>
Fees and Expenses
<p id="xdx_A86_eoef--ExpenseNarrativeTextBlock_zOYqyRqruXJc" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This table describes the fees and expenses that
you may pay if you buy, hold, and sell shares of the Fund (“Shares”). <b>You may pay other fees, such as brokerage commissions
and other fees to financial intermediaries, which are not reflected in the table and Example below.</b></p>
Annual Fund Operating Expenses (expenses that you pay each year
as a percentage of the value of your investment):
0.0075
0.0000
0.0000
0.0075
“Other
Expenses” are estimated for the current fiscal year.
Example
<p id="xdx_A8E_eoef--ExpenseExampleNarrativeTextBlock_zUp4i7s5db8b" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Example is intended to help you compare the
cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the
time periods indicated and then hold or redeem all of your Shares at the end of those periods. The Example also assumes that: (1) your
investment has a 5% return each year, and (2) the Fund’s operating expenses remain the same. Although your actual costs may be higher
or lower, based on these assumptions your costs would be:</p>
77
240
417
930
Portfolio Turnover
<p id="xdx_A88_eoef--PortfolioTurnoverTextBlock_znrBaGwSEeT8" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund pays transaction costs, such as commissions,
when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction
costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund
operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year ended October 31, 2025,
the Predecessor Fund's (defined below) portfolio turnover was <span id="xdx_90A_eoef--PortfolioTurnoverRate_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_za8h7he9uAqj">35</span>% of the average value of its portfolio.</p>
0.35
Principal Investment Strategies
<p id="xdx_A8A_eoef--StrategyNarrativeTextBlock_ziBLraDL4jDi" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_90A_eoef--StrategyPortfolioConcentration_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_z6RF6Zl8Udlk">The Fund is an actively-managed exchange-traded
fund (“ETF”) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its
net assets, plus borrowings for investment purposes, in securities of dividend-paying companies.</span></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span> </span></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund’s portfolio typically consists
of 40-60 companies that pay dividends and that the adviser, Opal Capital LLC (the “Adviser”), expects will grow the dividends
over time and are trading at attractive valuations at the time of the investment. The Adviser seeks companies that are established businesses
with high cash flow, stable revenue streams, and disciplined capital reinvestment programs that may, as a result, experience lower volatility
relative to the overall international equity market.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund invests in non-U.S. companies
with market capitalizations greater than $8 billion, but may include companies with market capitalizations of less than $8 billion
if their dividend yields are above the market average. The Adviser uses the S&P 500 dividend yield to determine the market
average but also applies a $2 billion market capitalization floor to companies qualifying for this market average exception. The
Fund typically invests in non-U.S. companies through sponsored and/or unsponsored American Depositary Receipts (“ADRs”)
and Global Depositary Receipts (“GDRs”) but may directly invest in such companies on foreign exchanges. The Adviser
makes its initial identification of potential portfolio securities based on its assessment of a company’s ability and commitment
to sustain and grow its dividends. In making this initial identification, the Adviser analyzes certain criteria including dividends
and dividend growth, earnings and earnings growth, free cash flow and free cash flow growth, leverage and the company’s
ability to service debt while paying dividends, as well as dividend history and qualitative comments from management regarding
the culture of paying dividends and shareholder returns. The Adviser next identifies “high quality companies,” which
are generally defined as companies with a sustainable competitive advantage, offering stable and growing free cash flows, and
quality management teams that have the capital discipline to distribute dividends to shareholders. The Adviser then selects companies
whose stock is trading at a valuation that it believes offers an opportunity to generate above average returns over time.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund invests at least 40% of its
net assets in securities of companies that are economically tied to a country or countries outside the U.S., including emerging
markets (which are considered by the Adviser to include countries in the MSCI Emerging Markets Index as well as other countries
that the Adviser reasonably determines to be emerging markets based on relevant factors, including the country’s level of
economic development, market capitalization, liquidity, regulatory framework, and the size, maturity, accessibility and operational
experience of its securities markets), meaning the company (i) is organized outside of the U.S.; (ii) has a class of securities
whose principal securities market is outside of the U.S.; (iii) derives more than 50% of total revenues or earnings from goods
produced, sales made, or services provided outside of the U.S.; or (iv) maintains more than 50% of its employees, assets, investments,
operations, or other business activity outside of the U.S.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The MSCI ACWI ex USA High Dividend
Yield Total Return Index (the “Index”) referenced in the objective of the Fund is designed to reflect the performance
of equities in the MSCI ACWI ex USA (excluding real estate investment trusts (“REITs”)) with higher dividend income
and quality characteristics than average dividend yields that are both sustainable and persistent. The Index also applies quality
screens and reviews 12-month past performance to omit stocks with potentially deteriorating fundamentals that could force them
to cut or reduce dividends. The Fund uses the Index solely as a performance benchmark, it does not inform the investible universe
for the Fund's security selection process.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Sub-Adviser is responsible for
trading portfolio securities for the Fund, including offering operations services, trading execution services and capital markets
execution services.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund is classified as a “non-diversified”
investment company under the Investment Company Act of 1940, as amended, which means that the Fund may invest a higher percentage of its
assets in a fewer number of issuers than is permissible for a “diversified” fund.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund intends to elect to be, and intends to
qualify each year for treatment as, a regulated investment company (“RIC”) under Subchapter M of Subtitle A, Chapter 1, of
the Internal Revenue Code of 1986, as amended (the “Code”).</p>
The Fund is an actively-managed exchange-traded
fund (“ETF”) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its
net assets, plus borrowings for investment purposes, in securities of dividend-paying companies.
Loss of money is a risk of investing in the Fund.
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveManagementRiskMember_zVRuOOvFsrOl"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>Active Management Risk. </b>The Fund is subject to management risk as an actively-managed investment
portfolio. The Adviser’s investment approach may fail to produce the intended result.</td></tr></table>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--AmericanDepositaryReceiptsADRsAndGlobalDepositoryReceiptsGDRsRiskMember_z2oXI4FYQCDh"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>American Depositary Receipts (“ADRs”) and Global Depository Receipts (“GDRs”)
Risk.</b> Sponsored and unsponsored ADRs are receipts issued by an American bank or trust company evidencing ownership of underlying securities
issued by a foreign issuer. GDRs are certificates issued by an international bank that generally are traded and denominated in the currencies
of countries other than the home country of the issuer of the underlying shares. ADRs, in sponsored form, are designed for use in U.S.
securities markets. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s
transaction fees and provides financial information to the bank. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations
and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently
and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be
as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. One risk of investing
in an ADR (sponsored or unsponsored) is the political risk of the home country. Instability in the home country increases the risk of
investing in an ADR. Another risk is exchange rate risk. ADR and GDR shares track the shares in the home country. If a country’s
currency is devalued, it will trickle down to the ADR. This can result in a significant loss, even if the company had been performing
well. Another related risk is inflationary risk. Inflation is the rate at which the general level of prices for goods and services is
rising and, subsequently, purchasing power is falling. Inflation can have a serious negative impact on business because the currency of
a country with high inflation becomes less and less valuable each day.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CyberSecurityRiskMember_zlEBnxoAzOrh"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>Cyber Security Risk.</b> Cyber security risk is the risk of an unauthorized breach and access to Fund
assets, Fund or customer data (including private shareholder information), or proprietary information, or the risk of an incident occurring
that causes the Fund, the Adviser, the Sub-Adviser, custodian, transfer agent, distributor and other service providers and financial intermediaries
to suffer data breaches, data corruption or lose operational functionality or prevent Fund investors from purchasing, redeeming or exchanging
shares or receiving distributions. The use of artificial intelligence and machine learning could exacerbate these risks. The Fund and
the Adviser have limited ability to prevent or mitigate cyber security incidents affecting third-party service providers and such third-party
service providers may have limited indemnification obligations to the Fund or the Adviser. Successful cyber-attacks or other cyber-failures
or events affecting the Fund or its service providers may adversely impact and cause financial losses to the Fund or its shareholders.
Issuers of securities in which the Fund invests are also subject to cyber security risks, and the value of these securities could decline
if the issuers experience cyber-attacks or other cyber-failures.</td></tr></table>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendPayingRiskMember_zUvozwGr4xAa"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Dividend Paying Risk. </b>While the Fund may hold securities of companies that have historically paid a high dividend yield, those
companies may reduce or discontinue their dividends, reducing the yield of the Fund. Past dividend payments are not a guarantee of future
dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other
investment strategies or the overall stock market. The Fund’s emphasis on dividend-paying companies involves the risk that such
companies may fall out of favor with investors and underperform the market.</td></tr></table>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--EarlyCloseOrTradingHaltRiskMember_zdmjDbu3PqHa"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Early Close/Trading Halt Risk. </b>An exchange or market may close or issue trading halts on specific securities, or the ability
to buy or sell certain securities or financial instruments may be restricted, which may prevent the Fund or an underlying fund from buying
or selling certain securities or financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio, may
be unable to accurately price its investments and may incur substantial trading losses.</td></tr></table>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_zHpUprnQlun9"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Emerging Markets Risk. </b>Investment in emerging market securities involves greater risk than that associated with investment
in securities of issuers in developed foreign countries. These risks include volatile currency exchange rates, periods of high inflation,
increased risk of default, greater social, economic and political uncertainty and instability, less governmental supervision and regulation
of securities markets, weaker auditing and financial reporting standards, lack of liquidity in the markets, and the significantly smaller
market capitalizations of emerging market issuers. The information available of an emerging market issuer may be less reliable than for
comparable issuers in more developed capital markets. In addition, investments in certain emerging markets are subject to an elevated
risk of loss resulting from market manipulation and the imposition of exchange controls (including repatriation restrictions). The legal
rights and remedies available for investors in emerging markets may be more limited than the rights and remedies available in the U.S.,
and the ability of U.S. authorities (e.g., SEC and the U.S. Department of Justice) to bring actions against bad actors in emerging markets
may be limited.</td></tr></table>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zs0biiHOohC2"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>Equity Securities Risk. </b>The Fund may invest in, or have exposure to, equity securities. Equity
securities tend to be more volatile than other investment choices, such as debt and money market instruments. The value of your investment
may decrease in response to overall stock market movements or the value of individual securities.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFInvestmentRiskMember_zIZ8tqTH5Gl1"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>ETF Investment Risk.</b> The Fund is an ETF, and, as a result of an ETF’s structure, it is exposed
to the following risks: “Authorized Participants, Market Makers and Liquidity Providers Concentration Risk,” “Cash Transactions
Risk,” “Secondary Market Trading Risk,” and “Shares May Trade at Prices Other Than NAV Risk.”</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><i>Authorized Participants, Market Makers and Liquidity Providers Concentration Risk. </i>Only an
authorized participant may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of financial
institutions that are institutional investors and may act as authorized participants (“APs”). In addition, there may be a
limited number of market makers and/or liquidity providers in the marketplace. To the extent either of the following events occur, Shares
may trade at a material discount to net asset value (“NAV”) and possibly face delisting: (i) APs exit the business or otherwise
become unable to process creation and/or redemption orders and no other APs step forward to perform these services, or (ii) market makers
and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform
their functions. These events, among others, may lead to the Shares trading at a premium or discount to NAV. Thus, you may pay more (or
less) than the NAV when you buy Shares in the secondary market, and you may receive less (or more) than NAV when you sell those Shares
in the secondary market. A diminished market for an ETF’s shares substantially increases the risk that a shareholder may pay considerably
more or receive significantly less than the underlying value of the ETF shares bought or sold. In periods of market volatility, APs, market
makers and/or liquidity providers may be less willing to transact in Shares.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"><i> </i></p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><i>Cash Transactions Risk. </i>Unlike certain ETFs, the Fund may effect its creations and redemptions
partially or wholly for cash rather than on an in-kind basis. Because of this, the Fund may incur costs such as brokerage costs or be
unable to realize certain tax benefits associated with in-kind transfers of portfolio securities that may be realized by other ETFs. These
costs may decrease the Fund’s NAV to the extent that the costs are not offset by a transaction fee payable by an AP. Shareholders
may be subject to tax on gains they would not otherwise have been subject to and/or at an earlier date than if the Fund had effected redemptions
wholly on an in-kind basis.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><i>Secondary
Market Trading Risk. </i>Although Shares are listed on a national securities exchange,
Cboe BZX Exchange, Inc. (the “Exchange”), and may be traded on U.S. exchanges
other than the Exchange, there can be no assurance that an active or liquid trading market
for them will develop or be maintained. In addition, trading in Shares on the Exchange
may be halted. Trading may be halted because of market conditions or for reasons that,
in the view of the Exchange, make trading in the Fund inadvisable. These may include:
(a) the extent to which trading is not occurring in the securities and/or the financial
instruments composing the Fund’s portfolio; or (b) whether other unusual conditions
or circumstances detrimental to the maintenance of a fair and orderly market are present.
During periods of market stress, there may be times when the market price of Shares is
more than the NAV intra-day (premium) or less than the NAV intra-day (discount). This
risk is heightened in times of market volatility or periods of steep market declines.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"> </p>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><i>Shares May Trade at Prices Other Than NAV Risk. </i>As with all ETFs, Shares may be bought and
sold in the secondary market at market prices. There is a risk that market prices for Fund Shares will vary significantly from the Fund’s
NAV.</td></tr></table>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignMarketsRiskMember_zQtjBGLaTwO1"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Foreign Markets Risk.</b> As a general rule, there is less legal and regulatory protection for investors in foreign markets than
that available domestically. Additionally, trading on foreign exchanges is subject to the risks presented by exchange controls, expropriation,
increased tax burdens and exposure to local economic declines and political instability. Some foreign derivative markets are so-called
principals’ markets in which performance is the responsibility only of the individual counterparty with whom the trader has entered
into a commodity interest transaction and not of the exchange or clearing corporation. International trading activities are subject to
foreign exchange risk. Certain foreign securities in which the Fund may invest may be traded in markets that close before the time that
the Fund calculates its NAV. Furthermore, certain foreign securities in which the Fund invests may be listed on foreign exchanges that
trade on weekends or other days when the Fund does not calculate its NAV. As a result, the value of the Fund’s holdings may change
on days when shareholders are not able to purchase or redeem the Fund’s Shares. Additionally, foreign market trading hours, clearance
and settlement procedures, and holiday schedules may limit the Fund’s ability to buy and sell securities.</td></tr></table>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><b></b></p>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zOEmtQtYDVMl"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Foreign Investment Risk. </b>International investing may be subject to special risks, including, but not limited to, currency exchange
rate volatility, political, social or economic instability, less publicly available information, less stringent investor protections,
and differences in taxation, auditing and other financial practices. The Fund may invest in securities of foreign issuers either directly
or through depositary receipts. Depositary receipts may be available through “sponsored” or “unsponsored” facilities.
Holders of unsponsored depositary receipts generally bear all of the costs of the unsponsored facility. The depository of an unsponsored
facility is frequently under no obligation to distribute shareholder communications received from the issuer of the deposited security
or to pass through, to the holders of the receipts, voting rights with respect to the deposited securities. The depository of unsponsored
depositary receipts may provide less information to receipt holders. Participatory notes (“P-notes”) are derivative instruments
used by investors to take positions in certain foreign securities. P-notes present similar risks to investing directly in such securities
and also expose investors to counterparty risk. Foreign securities in which the Fund invests may be traded in markets that close before
the time that the Fund calculates its NAV. Furthermore, certain foreign securities in which the Fund invests may be listed on foreign
exchanges that trade on weekends or other days when the Fund does not calculate its NAV. As a result, the value of the Fund’s holdings
may change on days when shareholders are not able to purchase or redeem the Fund’s shares.</td></tr></table>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NewFundRiskMember_zfrxek3qEB2h"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>New Fund Risk. </b>The Fund is a newly organized, management investment company with limited operating
history. In addition, there can be no assurance that the Fund will grow to, or maintain, an economically viable size, in which case the
Board of the Trust may determine to liquidate the Fund.</td></tr></table>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapCompaniesRiskMember_zGbP65V3y2Dc"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>Large-Cap Companies Risk. </b>Larger, more established companies may be unable to respond quickly to
new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large-cap companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.</td></tr></table>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidCapCompaniesRiskMember_zTPDZzScfWLe"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>Mid-Cap Companies Risk. </b>Mid-cap companies may not have the management experience, financial resources,
product diversification and competitive strengths of large-cap companies and, therefore, their securities tend to be more volatile than
the securities of larger, more established companies, making them less liquid than other securities.</td></tr></table>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zMVW2RLjIuPg"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif; text-align: justify"><b>Market Risk. </b>The NAV of the Fund will change with changes in the market value of its portfolio
positions. The value of investments held by the Fund may increase or decrease in response to economic, political, financial, public health
crises (such as epidemics or pandemics) or other disruptive events (whether real, expected or perceived) in the U.S. and global markets.
Investors may lose money. Although the Fund will invest in stocks the Adviser believes to be undervalued, there is no guarantee that the
prices of these stocks will not move even lower.</td></tr></table>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zswqhXRoJexf"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Non-Diversification Risk:</b> The Fund is non-diversified. Compared to other funds, the Fund may invest more of its assets in a
smaller number of companies. Gains or losses on a single stock may have greater impact on the Fund.</td></tr></table>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TaxRiskMember_zAsSKknbeyV4"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Tax
Risk.</b> Income and gains earned by the Fund may be subject to foreign withholding and
other taxes, which could reduce the Fund's return. Changes in tax laws, treaties, regulations,
or interpretations in the United States or foreign jurisdictions could adversely affect
the Fund or its shareholders.</td></tr></table>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ValueInvestingRiskMember_zeRa9zsv1iKc"></div>
<table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 11pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 11pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 11pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 11pt Times New Roman, Times, Serif"><b>Value Investing Risk. </b>Value stocks may perform differently from the market as a whole and an investment strategy purchasing
these securities may cause the Fund to at times underperform equity funds that use other investment strategies. Value stocks can react
differently to political, economic, and industry developments than the market as a whole and other types of stocks. Value stocks also
may underperform the market for long periods of time.</td></tr></table>
Performance
<p id="xdx_A83_eoef--PerformanceNarrativeTextBlock_zKJl9vSADb44" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is currently contemplated that before the Fund
commences operation, substantially all of the assets of the Polen International Dividend Income ETF, a series of Elevation Series Trust
(the “Predecessor Fund”) will be transferred to the Fund in a tax-free reorganization (the “Reorganization”).
If approved by shareholders of the Predecessor Fund, the Reorganization is expected to occur in the third quarter of 2026. Accordingly,
the Fund is the successor to the Predecessor Fund, and the performance information shown is that of the Predecessor Fund. The Fund has
an investment objective, strategies and policies substantially the same as the Predecessor Fund.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_90B_eoef--PerformanceInformationIllustratesVariabilityOfReturns_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_zKaxuKpHgl43">The bar chart below illustrates the performance
of the Predecessor Fund, which has varied year by year and provides some indication of the risks of investing in the Fund.</span> The bar chart
assumes reinvestment of dividends and distributions.</p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The performance table below shows how
the Predecessor Fund’s average annual total returns for 1 year, 5 years and 10 years compare with those of a broad measure
of market performance. The performance information that follows reflects the performance of the investment adviser to the Predecessor
Fund. <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_zA0HFks9J4Kc">The Predecessor Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund
will perform in the future.</span> Updated performance information, current through the most recent month end will be available on
the Fund's website at <span id="xdx_909_eoef--PerformanceAvailabilityWebSiteAddress_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_zurnk6Sdh8Td">www.pathfinderetfs.com</span>.</p>
The bar chart below illustrates the performance
of the Predecessor Fund, which has varied year by year and provides some indication of the risks of investing in the Fund.
The Predecessor Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund
will perform in the future.
www.pathfinderetfs.com
Calendar
Year Total Returns
0.3255
<p id="xdx_A8E_eoef--BarChartClosingTextBlock_zreETzS7SAoe" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The calendar <span id="xdx_904_eoef--YearToDateReturnLabel_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_z6pREwuwtLne">year-to-date return</span> of
the Predecessor Fund as of <span id="xdx_90D_eoef--BarChartYearToDateReturnDate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_zSAw90HE5O25">March 31, 2026</span> was <span id="xdx_909_eoef--BarChartYearToDateReturn_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_ziF7TL2A9bsj">6.74</span>%. During the periods shown in the bar chart, the <span id="xdx_90A_eoef--HighestQuarterlyReturnLabel_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_zByYUgzhrFyd">highest return</span> for a quarter
was <span id="xdx_901_eoef--BarChartHighestQuarterlyReturn_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_zUgoIJ8Isl0l">11.62</span>% during the quarter ended <span id="xdx_90C_eoef--BarChartHighestQuarterlyReturnDate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_zSOkYgBwwETc">March 31, 2025</span> and the <span id="xdx_900_eoef--LowestQuarterlyReturnLabel_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_zPOkj9D3oWZj">lowest return</span> for a quarter was <span id="xdx_90C_eoef--BarChartLowestQuarterlyReturn_pid_dpU_uRatio_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_zO8hvPtG4omi">3.53</span>% during the quarter ended <span id="xdx_909_eoef--BarChartLowestQuarterlyReturnDate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member__oef--ClassAxis__custom--C000277002Member_z9xLUMhMDhGj">December
31, 2025</span>.</p>
year-to-date return
2026-03-31
0.0674
highest return
0.1162
2025-03-31
lowest return
0.0353
2025-12-31
Average
Annual Total Returns for the Periods Ended December 31, 2025
2024-12-26
0.3255
0.3012
0.3085
0.2848
0.1917
0.2218
0.3094
0.3153
(reflects no deduction for fees, expenses or taxes
0.1788
0.1486
<p id="xdx_A88_eoef--PerformanceTableClosingTextBlock_zTO0CHzmGXj" style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_907_eoef--PerformanceTableUsesHighestFederalRate_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_zdZ9gKlglW19">After-tax returns are calculated using the historical
highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state
and local taxes.</span> Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. <span id="xdx_901_eoef--PerformanceTableNotRelevantToTaxDeferred_dU_c20260704__20260704__dei--LegalEntityAxis__custom--S000106169Member_zVA7NnHu1Op8">After-tax returns
shown are not relevant to investors who hold their Shares through tax-deferred arrangements such as an individual retirement account (“IRA”)
or other tax-advantaged accounts.</span> In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Shares”
may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption
and provides an assumed tax deduction that benefits the investor.</p>
After-tax returns are calculated using the historical
highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state
and local taxes.
After-tax returns
shown are not relevant to investors who hold their Shares through tax-deferred arrangements such as an individual retirement account (“IRA”)
or other tax-advantaged accounts.