HYBI

The investment objective of the NEOS Enhanced Income Credit Select ETF (the "Fund") is to seek total return from income and capital appreciation while providing a tax efficient monthly income. The Fund is an actively-managed ETF that seeks to achieve its investment objective by (i) investing 80% or more of its net assets in bonds or ETFs that invest 80% or more of their assets in bonds ("Underlying Investments") and (ii) selling and purchasing S&P 500 Index put options ("SPX put options") to generate income to the Fund beyond what is received from the Underlying Investments. To achieve its investment objective, the Fund will generally invest in a combination of (i) U.S. high-yield debt securities and (ii) U.S. investment grade debt securities and U.S. Treasury debt obligations . Debt securities are also known as fixed-income securities. The Adviser allocates assets between High-Yield Securities and Investment Grade Securities using a proprietary quantitative model developed with the assistance of a third-party research provider. This strategy employs a combination of short-, intermediate- and long term trend-following techniques to identify periods of favorable or unfavorable market conditions for High-Yield Securities.