Important Information

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please visit rexshares.com or call 1-844-802-4004. Read the prospectus carefully before investing.

Investing in the Funds involves a high degree of risk. As with any investment, there is a risk that you could lose all or a portion of your investment in the Funds. The Funds are not suitable for all investors.

NVDX and NVDQ seek daily leveraged or daily inverse leveraged investment results. All three Funds are designed to be utilized only by knowledgeable investors who understand the consequences of seeking targeted daily leveraged investment results, understand the risks associated with the use of leverage, and are willing to monitor their positions. They do not attempt to, and should not be expected to, provide returns which are a multiple of the return of the underlying security for periods other than a single day. Because they rebalance exposure daily, performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is very likely to differ from the stated multiple of the underlying security’s performance for that period, before fees and expenses. During periods of high volatility, a Fund may lose value even if the underlying security is flat over the period. It is possible to lose the entire amount invested in a single trading day.

NVII seeks daily investment results, before fees and expenses, between 105% and 150% of the daily percentage change of the underlying security, and employs a covered call strategy which limits potential gains above the strike price of the options written while retaining the full downside risk of the position. Because the Fund rebalances exposure daily, performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which will very likely differ from between 105% and 150% of the return of the underlying security over the same period. There is no guarantee the Fund will be successful in its attempt to provide leveraged exposure or pay weekly distributions. Distributions are not guaranteed, may vary substantially from period to period, and may include return of capital, which reduces net asset value and an investor’s cost basis. Return of capital distributions do not represent income or gains generated by the Fund’s investment activities. Net asset value typically drops by the amount of each distribution on the related ex-dividend date. Past distributions are not indicative of future distributions.

Investing in any of the Funds is not equivalent to investing directly in the underlying security. Each Fund’s investment exposure is concentrated in a single issuer, and the value of the Funds may be more volatile than a more diversified pooled investment or the market as a whole.

Leverage Risk. The Fund obtains investment exposure in excess of its net assets by utilizing leverage and may lose more money in market conditions that are adverse to its investment objective than a fund that does not utilize leverage.

Derivative Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. Investing in derivatives may be considered aggressive and may expose the Fund to greater risks, and may result in larger losses or small gains, than investing directly in the reference assets underlying those derivatives, which may prevent the Fund from achieving its investment objective.

Distribution Risk. As part of NVII’s investment objectives, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution at any given time. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, the distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.

NVIDIA Corporation Investing Risk. NVIDIA Corporation faces risks associated with meeting the evolving needs of its large markets (gaming, data center, professional visualization and automotive) and identifying new products, services and technologies; competition in its current and target markets; changes in customer demand; supply chain issues; manufacturing delays; potential significant mismatches between supply and demand giving rise to product shortages or excessive inventory; the dependence on third-parties and their technology to manufacture, assemble, test, package or design its products which reduces control over product quantity and quality, manufacturing yields, development, enhancement and product delivery schedules; significant product defects; international operations, including adverse economic conditions; impacts from climate change, including water and energy availability; business investment and acquisitions; system security and data protection breaches, including cyberattacks; business disruptions; a limited number of customers; the ability to attract, retain and motivate executives and key employees; the proper function of its business processes and information systems; impacts from the COVID-19 pandemic; its intellectual property; and other regulatory, and legal issues.

Important Information Regarding -2X NVDA Fund. The T-REX 2X Inverse NVIDIA Daily Target ETF (NVDQ) seeks daily inverse investment results and is very different from most other exchange-traded funds. Longer holding periods and higher volatility of NVDA increase the impact of compounding on an investor’s returns. During periods of higher volatility, the volatility of NVDA may affect the fund’s return as much as, or more than, the return of NVDA.

Important Information Regarding 2X NVDA Fund. The T-REX 2X Long NVIDIA Daily Target ETF (NVDX) seeks 2X daily leveraged investment results and thus will have an increase of volatility relative to the NVDA performance itself. Longer holding periods, higher volatility of NVDA and leverage increase the impact of compounding on an investor’s returns. During periods of higher volatility, the volatility of NVDA may affect the fund’s performance.

Call Option. A call option is a financial contract that gives the buyer the right, but not the obligation, to buy an underlying asset at a specified price within a certain time period.
Put Option. A put option is a financial contract that gives the buyer the right, but not the obligation, to sell an underlying asset at a specified price within a certain time period.
Swap. A swap is a financial agreement between two parties to exchange cash flows or other financial instruments over a set period.

THE FUNDS, TRUST, ADVISER, AND SUB-ADVISER ARE NOT AFFILIATED WITH THE FUNDS’ UNDERLYING SECURITIES.

Shares of the Funds are bought and sold at market price, not net asset value, and are not individually redeemed from a Fund. Brokerage commissions will reduce returns. Past performance is not indicative of future results.

Distributed by Foreside Fund Services, LLC, not affiliated with REX Shares, LLC, or its affiliates. Last reviewed August 2026.