Investing in Exchange Traded Funds (ETFs) involve risk, including possible loss of principal. The Fund is non-diversified, which means that a large portion of the Fund’s assets may be invested in one or few companies or sectors. The Fund could fluctuate in value more than a diversified fund.

For more complete information, please download the fund’s prospectus or call 877.421.5078 for copies. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus, which you should read carefully before investing.

The Vulcan Value Partners Fund ETF (the “ETF”) reflects the performance of Vulcan Value Partners Fund (the “Predecessor Fund”) with an inception date of 12/30/09, the day the Predecessor Fund began investing. Prior to close of business on 11/18/26, the Predecessor Fund operated as an open-end mutual fund. The Predecessor Fund has an identical investment objective and substantially similar investment strategies and investment risk profiles as the ETF. The Net Asset Value (“NAV”) returns include returns of the Investor Class shares of the Predecessor Fund prior to the ETF’s commencement of operations. The Predecessor Fund’s Institutional Class shares were combined into its Investor Class shares on 9/23/26. Performance for the ETF’s shares has not been adjusted to reflect the  lower expenses than those of the Predecessor Fund. Returns are net of fees and expenses. Market price returns begin on the ETF’s first day of trading. Had the Predecessor Fund been structured as an exchange-traded fund, its performance may have differed.

The ETF may not achieve its objective, and you could lose money on your investment. All performance data is calculated in US Dollars. Performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed or sold in the secondary market, may be worth more or less than the original cost. Investors will incur usual and customary brokerage commissions when buying or selling shares of the ETF in the secondary market that, if reflected, would reduce the performance returns. Shares are bought and sold at market price not net asset value (“NAV”) and are not individually redeemable from the ETF.

Index performance does not represent the ETF’s performance. It is not possible to invest directly in an index. All performance figures assume reinvestment of dividends and capital gains at net asset value; actual returns may differ. Performance one year or less are cumulative; performance more than one year are average annualized total returns. Market price performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. NAV price performance is determined using the daily calculated NAV. It does not represent the returns you would receive if you traded shares at other times. Performance figures do not reflect the deduction of taxes that a shareholder would pay on ETF distributions or upon redemption or sale of ETF shares. The S&P 500 is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the United States. The Russell 1000 is a stock market index that tracks the 1,000 largest U.S. companies based on market capitalization. It represents about 93% of the total market value of all U.S. stocks and serves as a primary benchmark for large-cap and mid-cap investing.

All performance is calculated in US Dollars. The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Returns are presented net of management fees and include the reinvestment of all income.

Holdings, as well as other data, are as of the period indicated and should not be considered a recommendation to purchase, hold, or sell any particular security. Actual holdings and percentage allocations in the ETF subject to change. It should not be assumed that any of the holdings listed were or will prove to be profitable or that the investment recommendations or decisions Vulcan Value Partners make will be profitable.

The S&P 500 Index is an unmanaged index of 500 common stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index. The Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 companies with lower price-to-book ratios and lower expected growth values. Index figures do not reflect deductions for any fees, expenses, or taxes. Investors cannot invest directly in an index.

Vulcan Value Partners, LLC is the investment adviser to the ETF and receives a fee from the ETF for its services. Distributors LLC is the distributor for the Vulcan Value Partners Funds. Paralel Distributors LLC and Vulcan Value Partners, LLC are unaffiliated entities.

Active Share – a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. Upside Capture Ratio – measures whether a given fund has outperformed—gained more than—a broad market benchmark during periods of market strength, and if so, by how much. Downside Capture Ratio – measures whether a given fund has outperformed– lost less than—a broad market benchmark during periods of market weakness, and if so, by how much. Market Capitalization (market cap) – the total equity market value of a company, it is equal to shares outstanding times the stock price. Median Market Cap – the mid-point of the companies’ market caps included in the portfolio. Average Market Cap – the average of the companies’ market caps included in the portfolio. Turnover – how frequently assets within a portfolio are bought and sold. Name Turnover – the number of companies bought plus the number of companies sold divided by 2 and then divided by the average number of companies in the portfolio. Free Cash Flow Yield – a security’s free cash flow divided by its market price. Dividend Yield – how much a company pays out in dividends each year relative to its share price. Return on Equity (ROE) – measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested. P/E Ratio – a calculation that compares the company’s stock price to the company’s earnings per share. 30-Day SEC Yield – represents the average daily dividends for the 30-day period, annualized, and divided by the net asset value per share at the end of the period. Subsidized yield reflects fee waivers and/or expense reimbursements during the period. Without waivers and/or reimbursements, yields would be reduced. Unsubsidized yield does not adjust for any fee waivers and/or expense reimbursements in effect.