REX Launches REX IncomeMax™ Option Strategy ETF (Ticker: ULTI)

October 31, 2025 — REX Shares (“REX”), a leading innovator in alternative ETFs, today announced the launch of the REX IncomeMax™ Option Strategy ETF (Ticker: ULTI), an actively managed fund seeking to capture weekly income by monetizing market volatility. 

The ULTI is a sophisticated strategy targeting the market’s most volatile U.S. stocks with an options strategy that dynamically adjusts to changing market conditions. ULTI seeks to turn volatility into weekly income while managing risk through active positioning. 

The portfolio typically holds 20 to 30 volatile U.S. equities, with the investment team actively managing exposures and option positioning as volatility and market direction shift.  

“Investors are demanding hedge fund style income strategies that can thrive in today’s volatile markets,” said Greg King, CEO of REX Shares. “With ULTI, we believe we’ve built a better way to pursue that goal. The fund uses an actively managed options strategy to capture premium and translate volatility into weekly income potential for investors.” 

The fund will be listed on Nasdaq under ticker symbol ULTI. 

For full fund information, holdings, and risk disclosures, visit rexshares.com/ulti.

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About REX

REX Shares is a leading provider of innovative exchange-traded products (ETPs), specializing in alternative strategy ETFs and ETNs. The firm has introduced groundbreaking products including the REX-Osprey Staked Solana ETF (SSK), the first U.S.-listed Solana ETF with on-chain staking rewards; the T-REX suite of 2x leveraged single-stock ETFs tied to names such as Nvidia, Tesla, MicroStrategy, and spot Bitcoin; and a growing lineup of income and volatility strategies designed to bring hedge fund style sophistication to the ETF market. 

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For media inquiries, please contact:
Gregory FCA for REX — rexfin@gregoryfca.com

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Investor Disclosure

Investors should consider the investment objectives, risk, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the REX IncomeMax™ Option Strategy ETF please call 1-844-802-4004 or visit our website at rexshares.com. Read the prospectus and summary prospectus carefully before investing.

Important Risks

Investing in a REX Shares ETF may be more volatile than investing in broadly diversified funds. The use of options strategies increases the risk to the Fund. The REX Shares ETFs are not suitable for all investors and should be utilized only by sophisticated investors who understand the risks and intend to actively monitor and manage their investment. 

An investment in the Fund entails risk. The Fund may not achieve its investment objective, and there is a risk that you could lose all of your money invested in the Fund. The Fund is not a complete investment program. In addition, the Fund presents risks not traditionally associated with other mutual funds and ETFs. It is important that investors review all risks listed in the prospectus before investing. 

Options Strategy Risk. The Fund’s use of options may expose it to additional risks, including imperfect correlation between the options and the underlying securities, potential illiquidity of the options market, and the possibility that options positions may expire worthless. The Fund’s strategy of selling options can limit upside participation and expose the Fund to significant losses if market movements exceed protective spread levels. 

Volatility and Market Risk. The Fund’s holdings in volatile stocks may result in sharp fluctuations in value. Periods of extreme volatility may lead to losses if premiums collected are insufficient to offset market movements. 

New Fund Risk. As of the date of this release, the Fund has no operating history and may experience larger inflows or outflows that could temporarily affect performance or market exposure.  

Leverage Risk. The Fund is subject to leverage risk. When the Fund purchases or sells an instrument or enters into a transaction without investing an amount equal to the full economic exposure of the instrument or transaction, it creates leverage, which can result in the Fund losing more than it originally invested. As a result, these investments may magnify losses to the Fund, and even a small market movement may result in significant losses to the Fund. Leverage may also cause the Fund to be more volatile because it may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. Derivative instruments involves a degree of leverage and as a result, a relatively small price movement in derivative instruments may result in immediate and substantial losses to the Fund.

Flex Options Risk. Trading FLEX Options involves risks different from, or possibly greater than, the risks associated with investing directly in securities. The Fund may experience losses from specific FLEX Option positions and certain FLEX Option positions may expire worthless. The FLEX Options are listed on an exchange; however, no one can guarantee that a liquid secondary trading market will exist for the FLEX Options. In the event that trading in the FLEX Options is limited or absent, the value of the Fund’s FLEX Options may decrease. In a less liquid market for the FLEX Options, liquidating the FLEX Options may require the payment of a premium (for written FLEX Options) or acceptance of a discounted price (for purchased FLEX Options) and may take longer to complete. A less liquid trading market may adversely impact the value of the FLEX Options and Fund Shares and result in the Fund being unable to achieve its investment objective. Less liquidity in the trading of the Fund’s FLEX Options could have an impact on the prices paid or received by the Fund for the FLEX Options in connection with creations and redemptions of the Fund Shares. Depending on the nature of this impact to pricing, the Fund may be forced to pay more for redemptions (or receive less for creations) than the price at which it currently values the FLEX Options. Such overpayment or under collection could reduce the Fund’s ability to achieve its investment objective. Additionally, in a less liquid market for the FLEX Options, the liquidation of a large number of options may more significantly impact the price. A less liquid trading market may adversely impact the value of the FLEX Options and the value of your investment. The trading in FLEX Options may be less deep and liquid than the market for certain other exchange-traded options, non-customized options or other securities.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil. This risk is greater for the Fund as it will hold options contracts on a single security, and not a broader range of options contracts. Markets for securities or financial instruments could be disrupted by a number of events, including, but not limited to, an economic crisis, natural disasters, epidemics/pandemics, new legislation or regulatory changes inside or outside the United States. Illiquid securities may be difficult to value, especially in changing or volatile markets. If the Fund is forced to sell an illiquid security at an unfavorable time or price, the Fund may be adversely impacted. There is no assurance that a security that is deemed liquid when purchased will continue to be liquid. Market illiquidity may cause losses for the Fund.

Distribution Tax Risk. The Fund currently expects to make distributions on a regular basis. While the Fund will normally pay its income as distributions, the Fund’s distributions may exceed the Fund’s income and gains for the Fund’s taxable year. The Fund may be required to reduce its distributions if it has insufficient income. Additionally, there may be times the Fund needs to sell securities when it would not otherwise do so and could cause the distributions from that sale to constitute return of capital. Distributions in excess of the Fund’s current and accumulated earnings and profits will be treated as a return of capital. Return of capital distributions do not represent income or gains generated by the Fund’s investment activities and should not be interpreted by shareholders as such. Distributions in excess of the Fund’s minimum distribution requirements, but not in excess of the Fund’s earnings and profits, will be taxable to Fund shareholders and will not constitute nontaxable returns of capital. A return of capital distribution generally will not be taxable but will reduce the shareholder’s cost basis and will result in a higher capital gain or lower capital loss when those Fund shares on which the distribution was received are sold. Once a Fund shareholder’s cost basis is reduced to zero, further distributions will be treated as capital gain, if the Fund shareholder holds shares of the Fund as capital assets. Additionally, any capital returned through distributions will be distributed after payment of Fund fees and expenses. Because the Fund’s distributions may consist of return of capital, the Fund may not be an appropriate investment for investors who do not want their principal investment in the Fund to decrease over time or who do not wish to receive return of capital in a given period. In the event that a shareholder purchases shares of the Fund shortly before a distribution by the Fund, the entire distribution may be taxable to the shareholder even though a portion of the distribution effectively represents a return of the purchase price.

Distribution Risk. As part of the Fund’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. 

Distributor: Foreside Fund Services, LLC, member FINRA, not affiliated with REX Shares or the Fund’s investment advisor.