TSII — REX TSLA Growth & Income ETF | Quote, Holdings, Fees & Performance

TheFund is an actively managed exchange-traded fund (“ETF”) that seeks to pay weekly distributions to shareholdersby employing a covered call strategy and maintaining between 105% and 150% notional exposure to the Underlying Security by enteringinto financial instruments on the Underlying Security, including options contracts and/or swap agreements, as well as directlypurchasing shares of the Underlying Security. To the extent available, the Fund may also invest in exchange-traded funds thatprovide leveraged exposure to the Underlying Security (“Leveraged ETFs”). At the end of each trading day, theFund attempts to rebalance its portfolio such that the notional exposure to the Underlying Security obtained through the combinationof these instruments is between 105% and 150% of the Fund’s NAV. The Fund is managed to maintain between 105% and 150% notionalexposure to the Underlying Security for a single day. A “single day” is measured from the time the Fund calculatesits NAV to the time of the Fund’s next NAV calculation. The exact amount of notional exposure, and therefore the amountof leverage used by the Fund, will be determined by REX Advisers, LLC, the Fund’s investment adviser (the “Adviser”),based on real-time risk sentiment through technical analysis (i.e., an evaluation that examines the Underlying Security’sprice behavior and chart patterns to determine an uptrend or downtrend). The Fund’s investment sub-adviser is Vident AssetManagement (the “Sub-Adviser”). There is no guarantee that the Fund will be successful in its attempt toprovide leveraged exposure to the Underlying Security or pay weekly distributions. TheFund, under normal market conditions, will invest at least 80% of its net assets (plus any borrowings for investment purposes)in shares of the Underlying Security, investments that provide exposure to the Underlying Security or income-producing investmentstied to the Underlying Security. For purposes of compliance with this investment policy, derivative instruments (i.e.,options contracts and/or swap agreements) will be valued at their notional value. TheFund’s portfolio consists of the following: (1) leveraged long exposure to the Underlying Security such that the notionalexposure to the Underlying Security is between 105% and 150% of the Fund’s NAV through options contracts, swap agreements,direct holdings of the Underlying Security and/or Leveraged ETFs that provide leveraged exposure to the Underlying Security; (2)covered call writing (where the Underlying Security call options are sold against the leveraged long portion of the strategy),which allows the Fund to generate income; and (3) short-term U.S. government securities or money market funds, which are usedfor collateral for the options contracts and/or swap agreements and to generate additional income. Atthe close of regular trading on each trading day, if necessary, the Fund attempts to rebalance its portfolio and reset its exposuresuch that the notional exposure to the Underlying Security is between 105% and 150% of the Fund’s NAV. The reset of theleverage factor may result in either a decrease or increase in notional exposure, depending on the performance of the UnderlyingSecurity over the course of a given trading day. Therefore, the Fund provides exposure to the daily total return of the UnderlyingSecurity. Accordingly, the Fund is not an appropriate investment for investors who do not intend to actively monitor and managetheir portfolios. TheFund primarily seeks to obtain its notional exposure to the Underlying Security through options contracts on the Underlying Security,including standardized exchange-traded and FLexible EXchange® Options (“FLEX Options”). TheFund may also utilize total return swap agreements or purchase shares of the Underlying Security directly. OptionsContracts TheFund utilizes options contracts on the Underlying Security in order to gain leveraged long exposure to the Underlying Security.The Fund may purchase deep in-the-money call options contracts, or simultaneously purchase at-the-money call options contractsand sell at-the-money put options contracts. The Fund’s options will be a combination of standardized exchange-traded and/orFLEX Options that utilize the Underlying Security as the reference asset. All options in which the Fund invests are exchange-tradedand are guaranteed for settlement by the Options Clearing Corporation (“OCC”). Ingeneral, an options contract gives the purchaser of the options contract the right to purchase (for a call option) or sell (fora put option) the underlying asset at a specified price (the “strike price”). If exercised, an options contractobligates the seller to deliver shares (for a sold call option) or buy shares (for a sold put option) of the underlying assetat the strike price. The purchaser of the options contract pays the option seller for the rights granted by the option (this isreferred to as the “premium”). Options contracts must be exercised or traded to close within a specified time frameor they expire. A “deep in-the-money” options contract refers to an options contract that has a strike price significantlylower than the current market price of the underlying asset. An “at-the-money” options contract refers to an optionscontract that has a strike price equal to the current market price of the underlying asset. Standardized exchange-traded optionshave standard terms, such as the type, reference asset, strike price and expiration date. FLEX Options are a type of exchange-listedoptions contract with uniquely customizable terms that allow investors to customize key terms like type, strike price and expirationdate that are standardized in a typical options contract. TheFund’s options contracts are based on the value of the Underlying Security, which gives the Fund the right or obligationto receive or deliver shares of the Underlying Security on the expiration date of the applicable options contract in exchangefor the stated strike price, depending on whether the options contract is a call option or a put option, and whether the Fundpurchases or sells the options contract. The Fund will pay a premium for each purchased call options contract and receive a premiumfor each sold put options contract. The Fund’s participation in potential changes in the price of the Underlying Securityis based on the price of the Underlying Security at the time the Fund enters into the options contract, the strike price of theoptions contract and the price of the Underlying Security at the time of the contract’s expiration. The maturity of theFund’s options contracts may vary from 1-day to 6-months. Atthe close of regular trading on each trading day, if necessary, the Fund attempts to rebalance its portfolio and reset its exposuresuch that the delta of the options contracts produces a targeted leverage amount between 105% and 150% of the Fund’s NAV.“Delta” refers to the measure of the sensitivity of the price of the Fund’s options contract to changes in theprice of the Underlying Security. Theuse of options contracts provides flexibility in pursuing the Fund’s targeted leverage daily investment objective. In situationswhere swap agreement availability is constrained, the Fund may rely more heavily on options contracts. Additionally, the Fundmay use options contracts in response to changing market dynamics. However, the use of options contracts may be less efficientthan the use of swap agreements and may result in the Fund not achieving its targeted leverage daily investment objective. LeveragedETFs Tothe extent available, the Fund may invest in shares of Leveraged ETFs. Leveraged ETFs seek to provide returns that area multiple of a stated benchmark, typically using a combination of derivative strategies. Like other forms of leverage, LeveragedETFs increase risk exposure relative to the amount invested and can lead to significantly greater losses than a comparableunleveraged portfolio. These ETFs are complex, carry substantial risk, and generally are used to increase or decrease a Fund’sexposure to the underlying index or asset on a short-term basis. Most Leveraged ETFs reset daily and seek to achieve theirobjectives on a daily basis and holding these ETFs for longer than one day may produce unexpected results. Due to compounding,performance over longer periods can differ significantly from the performance of the underlying index, particularly when the benchmarkindex experiences large ups and downs. Ownership of an ETF results in a Fund bearing its proportionate share of the ETF’sfees and expenses and proportionate exposure to the risks associated with the ETF’s underlying investments. CoveredCall Strategy Inaddition to maintaining between 105% and 150% notional exposure to the Underlying Security for a single day, the Fund seeks topay weekly distributions to shareholders by employing a covered call strategy. As part of the Fund’s covered call strategy,the Fund may invest directly in shares of the Underlying Security or purchase and sell a combination of standardized exchange-tradedand/or FLEX call and put options contracts. TheFund may utilize both a traditional covered call strategy and/or a synthetic covered call strategy. A traditional covered callstrategy is an investment strategy where an investor (i.e., the Fund) sells a call option on an underlying security it owns (i.e.,the Underlying Security). A synthetic covered call strategy is similar to a traditional covered call strategy in that the investor(i.e., the Fund) sells a call option that is based on the value of the underlying security. However, in a synthetic covered callstrategy, the investor (i.e., the Fund) does not own the underlying security (i.e., the Underlying Security), but rather seeksto synthetically replicate the price movements of the underlying security through the use of purchased and sold call and put options. Aspart of its covered call writing strategy, the Fund may generate income in the form of a premium by simultaneously writing (selling)call options contracts on its portion of the portfolio that provides leveraged long exposure to the Underlying Security. A premium,in this context, refers to the price the option buyer pays to the option seller (the Fund) for the rights granted by the option.Due to the Fund’s covered call strategy, the sale of call options to generate income may limit the Fund’s abilityto participate in increases in value of the Underlying Security’s share price beyond a certain point. These options aresaid to be sold “out-of-the-money” because the strike price is higher than the then-current share price of the UnderlyingSecurity at the time of purchase. Thus, if the Underlying Security’s share price appreciates beyond the strike price ofone or more of the sold call options contracts, the Fund will lose money on those sold call positions, and the losses will, inturn, limit the upside return of the Fund’s leveraged long exposure. As a result, the Fund’s overall strategy (i.e.,the combination of the leveraged long exposure to the Underlying Security and the sold call positions) will limit the Fund’sparticipation in gains in the price performance of the Underlying Security. The Fund intends to continuously maintain exposureto the Underlying Security through the use of options contracts. As the options contracts it holds are exercised or expire, theFund will enter into new options contracts, a practice referred to as “rolling.” This practice of rolling optionsmay result in high portfolio turnover for the Fund. The amount of each week’s distribution is based upon a formula thatincorporates a number of dynamic market-based inputs, including the recent total return of the Underlying Security and the impliedvolatility of the Underlying Security. Accordingly, the Fund’s weekly distribution should be expected to change from weekto week. Distributionsin excess of current and accumulated earnings and profits will be treated as a return of capital. Regular returns of capital to meetthe investment objectives may cause the NAV of the Fund to decline over time as assets are paid out to investors. This could ultimatelyreduce the ability of the Fund to generate future income and distributions, and may result in the Fund not meeting its investmentobjectives. TheFund may also seek to the implement its covered call strategy through the use of swap agreements that would provide similar economicexposure to the options writing strategy described above. SwapAgreements TheFund may also utilize total return swap agreements in order to gain leveraged long exposure to the Underlying Security or to implementits covered call strategy. The Fund may enter into one or more total return swap agreements with major financial institutionsfor a specified period ranging from one day to more than one year whereby the Fund and the financial institution will agree toexchange or “swap” the return (or differentials in rates of return) earned or realized on the Underlying Security.The gross return to be exchanged between the parties is calculated with respect to a “notional amount” (i.e., thereturn on or change in value of a particular dollar amount representing the Underlying Security). “Total return” refersto the payment (or receipt) of the total return on the Underlying Security, which is then exchanged for the receipt (or payment)of a set rate. TheFund may hold cash, cash equivalents and other short-term investments, including U.S. Treasuries (including bills, notes and bonds)and money market funds. These securities serve as collateral in connection with the Fund’s swap agreements and generateadditional income to the Fund. TheFund will employ its investment strategy as it relates to the Underlying Security regardless of whether there are periods of adversemarket, economic, or other conditions and will not take temporary defensive positions during such periods. The Fund’s performancewill differ from that of the Underlying Security’s share price and the performance differences will depend on, among otherthings, the price of the Underlying Security, changes in the value of the Underlying Security options contracts the Fund holds,and changes in the value of the U.S. government securities and/or money market funds the Fund holds. Throughits investments in financial instruments linked to the Underlying Security, the Fund will have exposure to a large capitalizationcompany. TheFund will be concentrated in the industry or group of industries to which the Underlying Security is assigned (i.e., hold25% or more of its total assets in investments that provide exposure to the industry or group of industries to which the UnderlyingSecurity is assigned). As of April 30, 2026, the Underlying Security is assigned to the Automobiles & Components industrygroup, although this may change from time to time. TheFund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”). Becauseof daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer thana single day will be the result of each day’s returns compounded over the period, which will very likely differ from between105% and 150% of the return of the Underlying Security over the same period. The Fund will lose money if the Underlying Security’sperformance is flat over time, and as a result of daily rebalancing, volatility and the effects of compounding, it is even possiblethat the Fund will lose money over time while the Underlying Security’s performance increases over a period longer thana single day. Thereis no guarantee that the Fund’s investment strategy will be properly implemented. As such, an investor may lose some orall of its investment if the Underlying Security decreases in value. Additionally, there is no guarantee that the Fund will besuccessful in its objective of providing investors with weekly distribution payments. Investing in the Fund is not equivalentto investing in the Underlying Security. Fund shareholders will not have voting rights or rights to receive dividends or otherdistributions or any other rights with respect to the Underlying Security. Tesla,Inc. Tesla,Inc. is an operating company that designs develops, manufactures, leases and sells high performance fully electric vehicles, solarenergy generation systems and energy storage products. Tesla, Inc. operates two segments: (i) automotive and (ii) energy generationand storage. The automotive segment includes the design, development, manufacturing, sales and leasing of electric vehicles aswell as sales of automotive regulatory credits. The energy generation and storage segment includes the design, manufacture, installation,sales and leasing of solar energy generation and energy storage products and related services and sales of solar energy systemsincentives. The Underlying Security is listed on Nasdaq. Tesla, Inc. is registered under the Securities Exchange Act of 1934,as amended (the “Exchange Act”). Information provided to or filed with the SEC by Tesla, Inc. pursuant to the ExchangeAct can be located by reference to the SEC file number 001-34756 through the SEC’s website at www.sec.gov. In addition,information regarding Tesla, Inc. or the Underlying Security may be obtained from other sources including, but not limited to,press releases, newspaper articles and other publicly disseminated documents. Thisdocument relates only to the securities offered hereby and does not relate to the Underlying Security or other securities of Tesla,Inc. The Fund has derived all disclosures contained in this document regarding Tesla, Inc. and the Underlying Security from thepublicly available documents. None of the Fund, the Trust, the Adviser, the Sub-Adviser, or their respective affiliates has participatedin the preparation of such publicly available offering documents or made any due diligence inquiry regarding such documents withrespect to Tesla, Inc. and the Underlying Security. None of the Fund, the Trust, the Adviser, the Sub-Adviser, or their respectiveaffiliates makes any representation that such publicly available documents or any other publicly available information regardingTesla, Inc. or the Underlying Security is accurate or complete. Furthermore, the Fund cannot give any assurance that all eventsoccurring prior to the date hereof (including events that would affect the accuracy or completeness of the publicly availabledocuments described above) that would affect the trading price of the Underlying Security (and therefore the price of the UnderlyingSecurity at the time we price the securities) have been publicly disclosed. Subsequent disclosure of any such events or the disclosureof or failure to disclose material future events concerning Tesla, Inc. or the Underlying Security could affect the value receivedwith respect to the securities and therefore the value of the securities. Noneof the Fund, the Trust, the Adviser, the Sub-Adviser, or their respective affiliates makes any representation to you as to theperformance of the Underlying Security. THEFUND, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH Tesla, Inc. OR THEUNDERLYING SECURITY

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