div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"The Fund is an exchange-traded fund ("ETF") that seeks to meet its objective by having Corgi Strategies, LLC (the "Adviser") actively manage the Fund and, under ordinary market conditions, invest at least 80% of its net assets (plus any borrowings for investment purposes) in a portfolio of companies headquartered in, or that maintain substantial operations in, the San Francisco Bay Area. For purposes of this policy, the Fund considers the following activities: firms across technology, software and cloud infrastructure, semiconductors, internet platforms, biotechnology and life sciences, financial technology, clean technology, and related professional and enabling services that benefit from the Bay Area talent base, research institutions, capital networks, and commercialization ecosystem./div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;" /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"For purposes of the Fund's 80% investment policy, the "San Francisco Bay Area" generally refers to the nine-county San Francisco-Oakland-Berkeley metropolitan area (Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma). The Adviser generally expects that a company has "substantial operations" in the region if it has a principal executive office in the region or, based on available disclosures and third-party data, maintains a significant employee base or material operating facilities (such as research and development, engineering, manufacturing, or operational hubs) in the region; The Adviser determines a company’s primary operating footprint based on publicly available information, including SEC filings (such as 10-Ks and proxy statements), corporate websites, press releases, commercial real estate and employment databases, and third-party data providers. Where such data are incomplete or not consistently reported, the Adviser will rely on the most recent publicly available information to make this determination. /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;" /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"The Fund invests primarily in the common stock of companies that are materially involved in the San Francisco Bay Area metropolitan operating and business ecosystem. The Fund considers a company "materially involved" if, as determined by the Adviser, the company is headquartered in or maintains substantial operations in the San Francisco Bay Area metropolitan area, including companies with significant regional employee bases, research and development facilities, operational hubs, or other material business lines in the region. Such activities may include software and internet services, platform and marketplace businesses, cloud and data infrastructure, semiconductor and hardware design and related supply chains, biotechnology research and commercialization, financial and payments platforms, clean technology development and deployment, and professional service platforms that support innovation, scaling, and commercialization centered in the Bay Area./div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;" /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"The Fund’s investable universe generally consists of equity securities of U.S. companies of any market capitalization, including large-, mid-, small-, and micro-cap companies, that are listed on U.S. securities exchanges. Because the Fund’s theme is defined by a U.S. geographic region, the Fund expects that substantially all of its investments will be in U.S.-domiciled companies./div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;" /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"The Fund may invest up to 15% of its net assets in illiquid investments. Illiquid investments may include, among other things, passive, minority interests in special purpose vehicles ("SPVs") managed by unaffiliated third parties, as a means of gaining limited exposure to private securities within the Fund’s investment theme, securities that are subject to legal or contractual restrictions on resale, and other investments that otherwise lack an active secondary market. The Fund does not create, sponsor, or exercise primary control over any SPV, and does not intend to acquire interests in SPVs that charge ongoing management fees or performance allocations. The Fund does not, and does not intend to, create or acquire primary control of any entity that engages in investment activities in securities or other assets, other than an entity wholly-owned by the Fund. The Fund may invest in other investment companies, including ETFs, to gain exposure to certain market segments, for cash management purposes, or to facilitate portfolio transitions./div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;" /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"The Fund employs a bottom-up security selection process that combines fundamental analysis with thematic and quantitative screening to construct the Fund’s portfolio from among companies that satisfy the Fund’s 80% investment policy, as described above. The Adviser evaluates qualifying companies based on, among other things, strategic positioning within the relevant supply chain, growth potential, and valuation./div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;" /div /div div style="font: 10pt Times New Roman, Times, Serif; margin: 0" div style="font-family: Times New Roman, Times, Serif; font-size: 10pt;display:inline;"The Fund may hold cash, cash equivalents, or short-term U.S. Treasury instruments for liquidity management or to facilitate portfolio transitions. The Fund will provide shareholders with at least 60 days' prior notice of any change to the Fund's 80% investment policy. The Fund is classified as non-diversified under the Investment Company Act of 1940./div /div