================================================================================================ DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE. ================================================================================================ Foundry Gross Profitability Industry-Neutral Factor ETF (FGPR) Fact Sheet · November 2026 · Dated 2026-11-13 Issuer: ETF Foundry Research (hypothetical) | Listing: Not listed (hypothetical) | CUSIP: Not applicable (hypothetical model portfolio) ## Investment Objective The Fund seeks long-term capital appreciation by tracking a rules-based Gross Profitability factor model, before the placeholder expense ratio and trading costs. ## Key Facts Item | Value ------------------------------+------------------------------------------------------ Ticker (pseudo) | FGPR CUSIP | Not applicable (hypothetical model portfolio) Listing exchange | Not listed (hypothetical) Underlying model | Gross Profitability factor (Industry-relative (FF48)) Placeholder expense ratio | 0.35% Placeholder inception date | 2020-07-10 Number of holdings (long leg) | 202 Weighting | Cap-weighted Rebalance frequency | Monthly Holdings as of | November 2026 ## Performance The following performance is HYPOTHETICAL and BACKTESTED — it was calculated by applying the model to historical data with the benefit of hindsight, is gross of the placeholder expense ratio and trading costs, and does not represent the results of any actual account. Past (hypothetical) performance does not guarantee or predict future results. ## Hypothetical Calendar-Year Total Returns (long-short backtest) Year | Hypothetical Total Return -----+-------------------------- 2017 | -18.59% 2018 | 13.45% 2019 | 7.30% 2020 | 13.84% 2021 | 8.20% 2022 | 12.90% 2023 | 6.20% 2024 | 39.28% 2025 | 26.23% 2026 | 12.37% ## Average Annual Total Returns (hypothetical, as of the most recent sample month) Period | Hypothetical Avg. Annual Total Return ------------------------------------+-------------------------------------- 1 Year | 16.04% 3 Years | 24.24% 5 Years | 18.62% 10 Years | 11.29% Since Model Inception (full sample) | 7.79% ## Top 10 Holdings (of 202) # | Ticker | Company | Sector | Weight | Market Value ---+--------+---------------------------------+-------------------+--------+------------- 1 | NVDA | NVIDIA CORP | Technology | 44.68% | $44,683,922 2 | LLY | ELI LILLY & CO | Healthcare | 14.98% | $14,979,954 3 | MU | MICRON TECHNOLOGY INC | Technology | 10.08% | $10,078,519 4 | LRCX | LAM RESEARCH CORP | Technology | 3.26% | $3,258,056 5 | GILD | GILEAD SCIENCES INC | Healthcare | 2.32% | $2,324,073 6 | SCCO | SOUTHERN COPPER CORP | Basic Materials | 1.58% | $1,584,529 7 | SNDK | SANDISK CORP | Technology | 1.49% | $1,488,177 8 | APP | APPLOVIN CORP | Technology | 1.46% | $1,455,200 9 | STX | SEAGATE TECHNOLOGY HOLDINGS PLC | Technology | 1.40% | $1,396,161 10 | SBUX | STARBUCKS CORP | Consumer Cyclical | 1.36% | $1,364,181 ## Sector Allocation Sector | Weight | # Holdings -----------------------+--------+----------- Technology | 66.91% | 44 Healthcare | 22.85% | 73 Consumer Cyclical | 4.09% | 30 Industrials | 2.72% | 21 Basic Materials | 1.62% | 2 Consumer Defensive | 1.05% | 17 Communication Services | 0.69% | 13 Financial Services | 0.06% | 1 Energy | 0.02% | 1 ## Portfolio Characteristics (hypothetical) Characteristic | Value -------------------------------+-------- Sharpe ratio (full sample) | 0.50 Annualized volatility | 18.38% Maximum drawdown | -41.02% Average monthly turnover | 8.10% Out-of-sample Sharpe (2019-26) | 0.91 ================================================================================================ DRAFT — HYPOTHETICAL MODEL PORTFOLIO — NOT A REGISTERED FUND, NOT AN OFFER TO SELL SECURITIES, NOT INVESTMENT ADVICE. ================================================================================================