================================================================================================ DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE. ================================================================================================ Foundry StdTurn Factor ETF (FSTD) 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 StdTurn factor model, before the placeholder expense ratio and trading costs. ## Key Facts Item | Value ------------------------------+---------------------------------------------- Ticker (pseudo) | FSTD CUSIP | Not applicable (hypothetical model portfolio) Listing exchange | Not listed (hypothetical) Underlying model | StdTurn factor (All stocks) Placeholder expense ratio | 0.29% Placeholder inception date | 2022-11-25 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 | -2.83% 2018 | 3.17% 2019 | -0.16% 2020 | -47.15% 2021 | 22.75% 2022 | 1.08% 2023 | -8.32% 2024 | 25.45% 2025 | 6.86% 2026 | -10.76% ## Average Annual Total Returns (hypothetical, as of the most recent sample month) Period | Hypothetical Avg. Annual Total Return ------------------------------------+-------------------------------------- 1 Year | 1.10% 3 Years | 5.25% 5 Years | 5.04% 10 Years | -3.41% Since Model Inception (full sample) | -4.51% ## Top 10 Holdings (of 315) # | Ticker | Company | Sector | Weight | Market Value ---+--------+---------------------------------+------------------------+--------+------------- 1 | AAPL | APPLE INC | Technology | 29.83% | $29,825,126 2 | GOOGL | ALPHABET INC | Communication Services | 25.56% | $25,564,140 3 | AVGO | BROADCOM INC | Technology | 10.73% | $10,734,592 4 | BRK.B | BERKSHIRE HATHAWAY INC | Financial Services | 6.45% | $6,447,009 5 | WMT | WALMART INC | Consumer Defensive | 5.53% | $5,531,678 6 | JNJ | JOHNSON & JOHNSON | Healthcare | 3.71% | $3,706,251 7 | ABBV | ABBVIE INC | Healthcare | 2.74% | $2,735,815 8 | PG | PROCTER & GAMBLE CO | Consumer Defensive | 2.12% | $2,124,998 9 | HD | HOME DEPOT INC | Consumer Cyclical | 2.06% | $2,055,935 10 | PM | PHILIP MORRIS INTERNATIONAL INC | Consumer Defensive | 1.83% | $1,830,063 ## Sector Allocation Sector | Weight | # Holdings -----------------------+--------+----------- Technology | 40.83% | 13 Communication Services | 25.93% | 13 Consumer Defensive | 9.61% | 13 Healthcare | 8.68% | 16 Financial Services | 7.14% | 90 Consumer Cyclical | 4.09% | 21 Industrials | 1.39% | 107 Energy | 1.38% | 16 Basic Materials | 0.88% | 8 Real Estate | 0.03% | 13 Utilities | 0.01% | 5 ## Portfolio Characteristics (hypothetical) Characteristic | Value -------------------------------+-------- Sharpe ratio (full sample) | -0.08 Annualized volatility | 23.34% Maximum drawdown | -80.90% Average monthly turnover | 12.10% Out-of-sample Sharpe (2019-26) | -0.08 ================================================================================================ DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE. ================================================================================================