Prior to its launch on 7th of November 2024, the Savana US Small Caps Active ETF (“SVNP”) strategy was run as a contemporaneous paper-trade (hypothetical) fund, with no actual money invested. The purpose of this paper-trade fund was to test the hypothetical performance of the SVNP strategy. The performance results of the contemporaneous paper-trade fund are shown below:

The performance data represents a contemporaneous paper-trade simulation of SVNP's investment strategy, with no actual money invested. Performance range is from 1 July 2022 to 7 November 2024. Total returns are calculated in Australian dollars and do not include any assumptions of fees or costs. The simulation assumes that dividends are reinvested.

The simulated performance data aims to provide investors with an approximate indication of SVNP's extended track record. However, hypothetical performance results have inherent limitations. No representation is made that any account will achieve profits or losses similar to those shown. In reality, there are often significant differences between hypothetical performance results and the actual results achieved by a specific trading program. Hypothetical trading does not involve financial risk, and no hypothetical trading record can fully account for the impact of financial risk in real-world trading.