Automobile Innovation: one of the biggest disruptions in a lifetime

Evolve Automobile Innovation Index Fund The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

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"Over the next decade, an estimated $90 trillion will be added to equity market appreciation.

More than half of that is expected to come from disruptive technologies.”

- Inside the Strategy Room by McKinsey & Company

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The Great Disruption in Transportation “The horse is here to stay but the automobile is only a novelty – a fad.”

The president of the Michigan Savings Bank said this advising to Henry Ford's lawyer, Horace Rackham, not to invest in the Ford Motor Co., 1903

Motor Vehicles vs Horses (USA)

Source: Fisher (1974) for horse data, FHWA, various years, and OECD/IEA (2016).

Note: Electric car graph line starts in 2011. Note the log scale on the Y-axis.

Sales Forecast: Internal Combustion Engines (ICE) vs Electric Vehicles (EV)

Source: Bloomberg NEF

Will EVs replace ICEs the same way the automobile replaced the horse and buggy?

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

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The Largest Transformation in a Lifetime • • • •

Automotive innovation is likely to be the biggest disruptive tech over the next 10 years Future cars will be the most sophisticated piece of tech that we own The automobile is the 2nd biggest purchase most people will make Satisfies Environmental, Social and Governance (ESG) mandates • Autonomous vehicles (AVs) will create safer roads • Electric vehicles (EVs) will create a cleaner environment • The future car will be ACE:

AUTONOMOUS

CONNECTED

ELECTRIC

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The Death of Internal Combustion Vehicles

90%

the percentage of worldwide vehicle production expected to be EVs by 20401

Countries to Ban Gas & Diesel Cars

INDIA 2030

FRANCE 2040

1 2

GERMANY 2030

NORWAY 2025

CHINA

Sales Forecast: Internal Combustion Engines (ICE) vs Electric Vehicles (EV)2

BRITAIN 2040

(starting in 2030)

NETHERLANDS 2025

International Monetary Fund (IMF): Riding the Energy Transition: Oil Beyond 2040 Electric Vehicle Outlook 2019, BloombergNEF

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Read a fund’s prospectus and consult your financial advisor before investing.

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The Future Car Is Electric

$11.5 billion The amount Ford plans to spend on electric cars by 20221

2021

Their first PHEV model is set for launch

2025

Fully electric cars to make up 50% of its overall sales5 1 2

Ford Sustainability Report, 2019-20 GM Sustainability Report, 2019

3 4

$27 billion

25

Electrified models by 20254

90%

the percentage of worldwide vehicle production expected to be EVs by 20403

44

New ‘eco-friendly’ models by 20254

International Monetary Fund (IMF): Riding the Energy Transition: Oil Beyond 2040 Hyundai Sustainability Report,2019

5

The amount GM plans to spend on EVs and AVs through 20252

80

New electrified models by 20254

2022

An electrified version of every model in its lineup4

InsideEVs October 24, 2018

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Vehicle Comparisons

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The Growth In Electric Vehicle Sales Global Stock of Electric Passenger Cars by Region*

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China Is Already Ahead Of The Curve

1.3 million out of 4 million Electric vehicles sold world-wide in 2018 were in China.1

1

World Economic Forum, 2019

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Read a fund’s prospectus and consult your financial advisor before investing.

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The Four Ages Of The Electric Vehicle (EV)

Source: Carbon Tracker The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

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The Growth In Charging Stations Infrastructure

$46 Billion

Global EV Charging Stations Market by 20251

Source: gminsights.com 1

https://www.gminsights.com/industry-analysis/ev-charging-infrastructure-market

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Read a fund’s prospectus and consult your financial advisor before investing.

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All Eyes on Batteries

73%

the percentage of battery production costs that are expected to decline by 20301

8 million the number of barrels of oil per day that is estimated to be saved by 20402

25%

the percentage savings of EVs per-mile cost of electricity vs the per-mile cost of gasoline3 BlackRock The future of the vehicle April 2017 International Energy Agency (IEA) from projected 150 million electric vehicles on the world’s roads 3 www.greencarreports.com 1 2

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Read a fund’s prospectus and consult your financial advisor before investing.

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Connection Matters

35%

the percentage of vehicles sold in 2015 that already have some connectivity capacity1

280

the number of hours per year the average American spends behind the wheel2

3.4

BlackRock The future of the vehicle April 2017 How Connectivity is Driving the Future of the Car by Wired Brand Lab for Ford Motor Company 3 Washington Post/US Census Bureau.

1

Million - the number of years collectively that Americans spend commuting3

2

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Read a fund’s prospectus and consult your financial advisor before investing.

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Autonomous Vehicles Will Save Lives

1.3 million the number of traffic fatalities worldwide per year1

How autonomous cars see the world

35,000

the number of road related fatalities Americans suffer per year2

90%

(Source: Visual Capitalist)

the number of traffic fatalities that could be reduced with driverless cars3 World Health Organization and the Association for Safe International Road Travel 2015 Ars Technica/NHTSA 2015 3 Researchers estimate by mid-century. CB Insights 2017.

1 2

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Read a fund’s prospectus and consult your financial advisor before investing.

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The Future of the Car is “ACE” Autonomous

Connected

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Read a fund’s prospectus and consult your financial advisor before investing.

Electric

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Investment Opportunities in Automobile Innovation ?

Evolve Automobile Innovation Index Fund

ETF CARS (Hedged) CARS.B (Unhedged) CARS.U (USD)

MUTUAL FUND EVF140 (Class F) EVF141 (Class A)

Learn more at https://evolveetfs.com/product/cars/

WHO SHOULD CONSIDER THIS ETF? Investors who are: • Interested in companies that are directly or indirectly involved in developing electric drivetrains, autonomous driving or network connected services for automobiles • Seeking capital appreciation through having exposure to international equities in developed markets • Willing to take the risk associated with equity investments • Interested in Socially Responsible Investments (SRI) and Environmental, Social and Governance (ESG) mandates

The contents of this piece are not to be used or construed as investment advice or as an endorsement or recommendation of any entity or security discussed.

Read a fund’s prospectus and consult your financial advisor before investing.

Commissions, management fees and expenses all may be associated with exchange traded funds (ETFs) and mutual funds (funds). Please read the prospectus before investing. ETFs and mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. There are risks involved with investing in ETFs and mutual funds. Please read the prospectus for a complete description of risks relevant to ETFs and mutual funds. Investors may incur customary brokerage commissions in buying or selling ETF and mutual fund units.

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