T-REX Funds: Reverse Share Splits Announced for Two ETFs

Which T-REX ETFs are undergoing reverse share splits?

The total market value of shares outstanding for each Fund will not be affected because of these corporate actions, except with respect to the redemption of fractional shares, as outlined below.

Reverse Splits

T-REX will execute a 1-for-10 reverse split of the issued and outstanding shares of each Fund listed above.

After the close of the markets on July 10, 2026 (the “Record Date”), the Funds will affect a reverse split of the issued and outstanding shares as follows:

Please note the following CUSIP changes becomes after market close on July 10, 2026:

How do reverse share splits impact shareholder investments?

The reverse share splits will apply to shareholders of record as of the close of the Cboe BZX Exchange, Inc. (“Cboe BZX”) on July 10, 2026 (the “Record Date”). Shares of the Funds will begin trading on a split-adjusted basis on July 13, 2026 (the “Ex-Date”).

Redemption of Fractional Shares and Tax Consequences of the Reverse Split

As a result of the reverse split, a shareholder of a Fund’s shares could potentially hold a fractional share. However, fractional shares cannot trade on the CBOE BZX. Thus, a Fund will redeem for cash a shareholder’s fractional shares at the Fund’s split-adjusted Net Asset Value after the close of the markets on July 10, 2026. Such redemption may have tax implications for those shareholders, and a shareholder could recognize a gain or loss in connection with the redemption of the shareholder’s fractional shares. Otherwise, the reverse splits will not result in a taxable transaction for holders of Fund shares. No transaction fee will be imposed on shareholders for such redemption.

No fractional shares will be issued in connection with the reverse share splits. Instead, shareholders will receive cash in lieu of any fractional shares.

“Odd Lot” Unit

Also, because of the reverse splits, a Fund may have outstanding one aggregation of less than 10,000 shares to make a creation unit, or an “odd lot unit.” Thus, a Fund will provide one authorized participant with a one-time opportunity to redeem the odd lot unit at the split-adjusted NAV or the NAV on such date the authorized participant seeks to redeem the odd lot unit.

The Trust’s transfer agent will notify the Depository Trust Company (“DTC”) of the splits and instruct DTC to adjust each shareholder’s investment(s) accordingly. DTC is the registered owner of the Funds’ shares and maintains a record of the Funds’ record owners.

About REX Shares

REX is an innovative ETF provider that specializes in alternative-strategy ETFs and ETNs. The firm created the MicroSectors™ and co-created the T-REX product lines of leveraged & inverse tools for traders and recently launched the first of a series of option-based income strategies. The firm is rooted in decades of experience building inventive solutions that solve for a range of specific challenges in investor and trader portfolios. Please visit www.rexshares.com for more information.

About Tuttle Capital Management (TCM)

TCM is a registered investment adviser and an industry leader in managing thematic ETFs that offer first of their kind exposures. Please visit www.tuttlecap.com for more information.

About REX Shares and Tuttle Capital Management (“T-REX”)

REX Shares and Tuttle Capital Management are co-developers of the T-REX family of exchange-traded funds, providing tactical investment exposure through leveraged and inverse daily strategies designed to help investors express short-term market views.

Toll free number for the fund: 833-759-6110