================================================================================================ DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE. ================================================================================================ Foundry 52-Week High Factor ETF (FHIG) Fact Sheet · July 2026 · Dated 2026-09-12 Issuer: ETF Foundry Research (hypothetical) | Listing: Not listed (hypothetical) | CUSIP: Not applicable (hypothetical model portfolio) ## Investment Objective The Fund seeks long-term capital appreciation by tracking a rules-based 52-Week High factor model, before the placeholder expense ratio and trading costs. ## Key Facts Item | Value ------------------------------+---------------------------------------------- Ticker (pseudo) | FHIG CUSIP | Not applicable (hypothetical model portfolio) Listing exchange | Not listed (hypothetical) Underlying model | 52-Week High factor (All stocks) Placeholder expense ratio | 0.29% Placeholder inception date | 2020-08-07 Number of holdings (long leg) | 315 Weighting | Cap-weighted Rebalance frequency | Monthly Holdings as of | July 2026 ## Performance The following performance is HYPOTHETICAL and BACKTESTED — it was calculated by applying the model to historical data with the benefit of hindsight, is gross of the placeholder expense ratio and trading costs, and does not represent the results of any actual account. Past (hypothetical) performance does not guarantee or predict future results. ## Hypothetical Calendar-Year Total Returns (long-short backtest) Year | Hypothetical Total Return -----+-------------------------- 2017 | 9.81% 2018 | 27.40% 2019 | -12.08% 2020 | -6.23% 2021 | 13.19% 2022 | 43.97% 2023 | -49.59% 2024 | 16.09% 2025 | -8.36% 2026 | 3.79% ## Average Annual Total Returns (hypothetical, as of the most recent sample month) Period | Hypothetical Avg. Annual Total Return ------------------------------------+-------------------------------------- 1 Year | -9.93% 3 Years | 0.41% 5 Years | -0.92% 10 Years | 0.09% Since Model Inception (full sample) | -1.06% ## Top 10 Holdings (of 315) # | Ticker | Company | Sector | Weight | Market Value ---+--------+----------------------------------+--------------------+--------+------------- 1 | V | VISA INC | Financial Services | 13.46% | $13,463,143 2 | UNH | UNITEDHEALTH GROUP INC | Healthcare | 7.98% | $7,980,119 3 | PM | PHILIP MORRIS INTERNATIONAL INC | Consumer Defensive | 6.20% | $6,202,813 4 | PANW | PALO ALTO NETWORKS INC | Technology | 6.03% | $6,028,620 5 | UNP | UNION PACIFIC CORP | Industrials | 3.69% | $3,694,683 6 | WELL | WELLTOWER INC | Real Estate | 3.54% | $3,541,262 7 | PLD | PROLOGIS INC | Real Estate | 2.88% | $2,880,112 8 | SBUX | STARBUCKS CORP | Consumer Cyclical | 2.48% | $2,479,449 9 | PNC | PNC FINANCIAL SERVICES GROUP INC | Financial Services | 2.09% | $2,094,057 10 | UPS | UNITED PARCEL SERVICE INC | Industrials | 2.06% | $2,063,599 ## Sector Allocation Sector | Weight | # Holdings -----------------------+--------+----------- Financial Services | 30.43% | 94 Industrials | 13.82% | 70 Healthcare | 11.49% | 41 Real Estate | 11.27% | 35 Technology | 8.36% | 15 Energy | 8.03% | 18 Consumer Defensive | 7.74% | 4 Consumer Cyclical | 6.10% | 19 Communication Services | 1.44% | 8 Utilities | 0.67% | 6 Basic Materials | 0.66% | 5 ## Portfolio Characteristics (hypothetical) Characteristic | Value -------------------------------+-------- Sharpe ratio (full sample) | 0.13 Annualized volatility | 31.67% Maximum drawdown | -77.12% Average monthly turnover | 53.04% Out-of-sample Sharpe (2019-26) | 0.03 ================================================================================================ DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE. ================================================================================================