SUBZ The Streaming ETFINVESTOR PRESENTATION JUNE 2021

ROUNDHILL INVESTMENTS

Disclaimer

ROUNDHILL INVESTMENTS

Investors should consider the investment objectives, risk,charges and expenses carefully beforeinvesting. For a prospectus or summary prospectus with thisand other information about the SUBZETF please call 1-877-220-7649 or visit the website atroundhillinvestments.com/etf/subz. Read theprospectus or summary prospectus carefully beforeinvesting.

Investing involves risk, including possible loss of principal. Streaming Companies and other companies that rely heavily on technology are particularlyvulnerable to research and development costs, substantial capital requirements, product and services obsolescence, government regulation, and domestic andinternational competition, including competition from foreign competitors with lower production costs. Stocks of such companies, especially smaller, less-seasoned companies, may be more volatile than the overall market. Streaming Companies may face dramatic and unpredictable changes in growth rates.Streaming Companies may be targets of hacking and theft of proprietary or consumer information or disruptions in service, which could have a materialadverse effect on their businesses. Fund investments will be concentrated in an industry or group of industries, and the value of Fund shares may rise and fallmore than more diversified funds. Foreign investing involves social and political instability, market illiquidity, exchange-rate fluctuation, high volatility and limitedregulation risks. Emerging markets involve different and greater risks, as they are smaller, less liquid and more volatile than more developed countries.Depositary Receipts involve risks similar to those associated with investments in foreign securities, but may not provide a return that corresponds precisely withthat of the underlying shares. Please see the prospectus for details of these and other risks.Foreside Fund Services, LLC: Distributor.

FORESIDE FUND SERVICES, LLC: DISTRIBUTOR.

Streaming ExplainedMarket Opportunity:

Switch To Streaming

Subscription Model

Cord Cutting

Internet Penetration

Case Studies:Netflix

Roku

Spotify

ETF Characteristics Top Holdings & Exposures

ROUNDHILL INVESTMENTS02

TABLE OF CONTENTS

SUBZ

Video streaming

Audio streaming

Livestreaming

Game streaming

Streaming, otherwise known as OTT content (Over-The-Top Content), is

the technology of transmitting audio and video files continuously over the

internet.

The most popular forms of streaming include:

This market is expected to grow significantly as consumers switch from

traditional content delivery to streaming.

Streaming Explained

From 2013 to 2019, average spend per American household on video streaming services increased480% and average spend on audio streaming increased 345%.

Market Opportunity: The Switch To Streaming

Source: Statista. Estimates as of January 9th 2021. Information is subject to change and is not a guarantee of future results.

Average U.S. Household Spend On Streaming Services

The subscription model used by streaming services has created reliable recurring revenue and a

low incremental cost for each new user added to the service.

Market Opportunity: The Subscription Model

Source: Statista as of January 12th, 2021. Information is subject to change and is not a guarantee of future results. E=estimates.

Video Streaming Revenue Expectations Audio Streaming Revenue Expectations

"Cord-cutting" is the process of cancelling a cable or satellite plan and getting TV shows and

movies by other means. 27 percent of U.S. households plan to cut cable TV plans in 2021

according to The Trade Desk.

Market Opportunity: Cord Cutting

Source: Statista, Trade Desk as of 12th January 2021. Information is subject to change and is not a guarantee of future results. E= Estimate.

Expected Number Of U.S. Households No Longer Paying For Traditional TV Services

From 2000-2020, internet access has increased 1,266% leading to a 63.2% global penetrationrate today. As high speed internet and bandwidth become more available, streaming becomes

increasingly more viable.

Market Opportunity: Internet Penetration

Source: World Internet Stats As Of January 12 2021. Information is subject to change and is not a guarantee of future results.

0% 25% 50% 75% 100%

Africa

Asia

Europe

LaTam / CARIB

North America

Oceania / Aus

World Total

Internet Penetration Rates By Region

Company Details

Case Study: Netflix

Ticker: NFLX

Country: United States

Thematic Relevance: Video Streaming Service

Market Capitalization: $234.2 Billion

Notable Brands

Tiger King

Queen's Gambit

Outer Banks

Ozark

Key Highlight

Netflix is the world’s leading streaming

entertainment service with over 200 millionpaid memberships in over 190 countries.

Netflix is behind viral hits Tiger King, Ozarks,

and the Queens Gambit.

Key Statistics

85% of US streaming subscribers subscribe

to Netflix.

Netflix says the average user streams twohours per day.

SUBZ ETF Exposure: 4.5%

As of 6/30/2021

Information is subject to change and is not a guarantee of future results. This example was chosen because Netflix is a D2C streaming service.

Company Details

Case Study: Roku

Ticker: ROKU

Country: United States

Thematic Relevance: Technology Market Capitalization: $60.8 Billion

Notable Brands

Roku OS

The Roku Channel

Roku Streaming Stick

Roku Ultra

Key Highlight

The Roku OS is the No. 1 smart TV OS in the

U.S and in Canada, and powered more than

one in three smart TVs sold in the U.S. during

the first nine months of 2020 according to

NPD.

Key Statistics

Roku reached 46 million active accountsin Q3 2020.

The Roku Channel reached U.S. households

with an estimated 54 million people.

SUBZ ETF Exposure: 5.8%

Information is subject to change and is not a guarantee of future results. This example was chosen because Roku is a leader in streaming technology.

As of 6/30/2021

Company Details

Case Study: Spotify

Ticker: SPOT

Country: Sweden

Thematic Relevance: Audio Streaming Service

Market Capitalization: $52.6 Billion

Notable Brands

The Joe Rogan Experience

The Michelle Obama Podcast

Anchor

The Ringer

Key Highlight

Spotify is the largest audio streaming service

in the world. As of October 2020, the

company announced they had 320 millionactive users and 144 million paidsubscribers.

Key Statistics

Spotify has over 1 million podcasts and

over 50 million songs.

44% of users listen to Spotify on a daily

basis.

SUBZ ETF Exposure: 5.2%

Information is subject to change and is not a guarantee of future results. This example was chosen because Spotify is the leading audio streaming service.

As of 6/30/2021

Characteristics

ETF Characteristics: SUBZ

Ticker: SUBZ

Expense Ratio: 0.75%

Launch Date: February 10th, 2021

AUM: $36.2MM

Shares Outstanding: 2,800,000

Number of Holdings: 40ETF Options: Yes20 Day ADV: $193.7K

Video39.2%

Technology23.7%

Audio16%

Other12.2%

Live8.8%

Thematic Breakdown

As of 6/30/2021. Information is subject to change and is not a guarantee of future results.

Country Exposure

ETF Exposures: SUBZ

United States64.2%

China20.4%

Sweden6.9%

Japan5%South Korea

3.5%

Large Cap (>$5B)58.8%

Mid Cap ($1-5B)24.9%

Small Cap (<$1B)16.3%

Market Capitalization Exposure

As of 6/30/2021. Information is subject to change and is not a guarantee of future results.

ETF Top Holdings: SUBZ

Roku

Weight: 5.8% Ticker: ROKU

Spotify

Weight: 5.2% Ticker: SPOT

iQIYI

Weight: 4.8% Ticker: IQ

Netflix

Weight: 4.5%Ticker: NFLX

fuboTV

Weight: 4.5% Ticker: FUBO

Disney

Weight: 4.4%

Ticker: DIS

TME

Weight: 4.4% Ticker: TME

J-Stream

Weight: 3.6% Ticker: 4308 JP

AfreecaTV

Weight: 3.5%Ticker: 067160 KS

Peloton

Weight: 3.5% Ticker: PTON

As of 6/30/2021. Information is subject to change and is not a guarantee of future results.

For more information:

Website: roundhillinvestments.comTwitter: @roundhill

LinkedIn: Roundhill Investments

SUBZThe Roundhill Streaming ETF