Exhibit 99.(d)(xvii)(1)
FIRST AMENDMENT TO THE
INVESTMENT ADVISORY AGREEMENT
THIS FIRST AMENDMENT dated as of September 17, 2026, to the Investment Advisory Agreement dated as of November 21, 2024 (the “Agreement”), is entered into by and between TIDAL TRUST I (the “Trust”), on behalf of the series of the Trust as indicated on Schedule A to the Agreement, as may be amended from time to time, and TIDAL INVESTMENTS LLC (hereinafter called the “Adviser”).
RECITALS
WHEREAS, the parties have entered into the Agreement; and
WHEREAS, the Trust and the Adviser desire to amend Schedule A to add the following series:
Subversive Growth 100 Redacted ETF
Subversive S&P 500 Redacted ETF (each, a “New Fund”; and
WHEREAS, the Trust and the Adviser desire to amend Schedule A to reflect the following name changes:
Unusual Whales Subversive Democratic Trading ETF to Subversive Congressional Democrats Trading ETF
Unusual Whales Subversive Republican Trading ETF to Subversive Congressional Republicans Trading ETF; and
WHEREAS, Section 21 of the Agreement allows for the amendment of the Agreement by a written instrument executed by both parties;
NOW, THEREFORE, the parties agree as follows:
Schedule A of the Agreement is hereby superseded and replaced with Amended Schedule A attached hereto, for the purpose of adding each New Fund, to be effective at the time such New Fund commences operation pursuant to an effective amendment to the Trust’s Registration Statement under the Securities Act of 1933, as amended.
Except to the extent amended hereby, the Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by a duly authorized officer on one or more counterparts as of the date and year first written above.
[Signature Page Follows]
| TIDAL TRUST I | TIDAL INVESTMENTS LLC | |||
| on behalf of its series listed on Amended Schedule A | ||||
| By: | /s/Eric Falkeis | By: | /s/Jay Pestrichelli | |
| Name: | Eric Falkeis | Name: | Jay Pestrichelli | |
| Title: | President | Title: | Chief Investment Officer | |
| Date: | 9/24/2026 | Date: | 9/24/2026 | |
Amended Schedule A
to the
Investment Advisory Agreement
by and between
Tidal Trust I and Tidal Investments LLC
| Fund Name | Advisory Fee | Effective Date |
| Subversive Congressional Democrats Trading ETF | 0.72% | 12/30/2024 |
| Subversive Congressional Republicans Trading ETF | 0.72% | 12/30/2024 |
| Subversive Growth 100 Redacted ETF | 0.55% | Commencement of Operations |
| Subversive S&P 500 Redacted ETF | 0.55% | Commencement of Operations |