PYPY

Yieldmax PYPL Option Income Strategy ETF seeks current income; exposure to the share price of the Class A common stock of PayPal Holdings, Inc. ("PYPL"), subject to a limit on potential investment gains is the secondary consideration. The fund advisor will seek to employ the fund's investment strategy as the fund relates to PYPL regardless of whether there are periods of adverse market, economic, or other conditions and will not seek to take temporary defensive positions during such periods. The fund is non-diversified.