For Investors: Evolve Automobile Innovation Index ETF (CARS)

Evolve Automobile Innovation Index ETF Now trading on the TSX. TSX TICKER: CARS

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Fear of the New 360 B.C. Young students would rely too much on the written record of speech (WRITING) and thus weaken their ability to remember it.

Riding in the STEAM ENGINE, will cause asphyxiation when traveling through train tunnels at a speed of 20 miles/hour.

– Plato

– Scientific subjects lecturer Dionysius Lardner

“From today, painting is dead!” (After seeing an early form of PHOTOGRAPHY).

“The word written on parchment will last a thousand years. The PRINTED BOOK is on paper. How long will it last?”

1839

– Scribe Johannes Trithemius

1775 There is a vision of isolated citizens reading in “sullen silence” with the newly popular NEWSPAPER. – French statesman, ChretiénGuillaume de Malesherbes

– Critics

– Artist Paul Delaroche

1830s

1494

The popularity of the RADIO will cause the death of conversation.

“There is now very little danger that Americans will resort to the vice of thinking”.

1854 Just because communication is now faster via the TELEGRAPH doesn’t mean people have anything important to say.

– Author, poet, and philosopher, Henry David Thoreau

Source: Bad For You book (authors Kevin C. Pyle and Scott Cunningham)

COMPUTER programmers are “disheveled” tech-heads, staring at their keyboard buttons with the same obsession as “a gambler’s on the rolling dice”.

– Author of “Computer Power and Human Reason”, Joseph Weizenbaum

2018 FUTURE CARS

1976

1920s The TELEPHONE could make you deaf… and the electric current might kill you!

1900s

1906 The PHONOGRAPH will ruin people’s ear for the subtleties of live music. Fewer people will learn to play instruments since a record provides folks with “readymade [music]… in their cupboards.”

– Leader of marching band music, John Philip Sousa

1950s TELEVISION will “hurt radio, conversation, reading, and the patterns of family living…”

– Critics

2010 The INTERNET “scatters our attention”, unlike books which “focus us” and “promotes contemplativeness”.

– Social critic Nicholas Carr

3

Fear of the New “The horse is here to stay but the automobile is only a novelty – a fad.”

-

President of the Michigan Savings Bank in 1903 1903

4

The Future of the Car is “ACES” Four technology-driven megatrends are disrupting the industry – Autonomous driving, Connectivity, Electrification, and Shared mobility (ACES)

A 80%

C

By 2030, connected trucks will make up

of the top 10 OEMs plan to build highly autonomous vehicles

~80%

Truck platooning on the road expected by

The percentage of consumers ready to change car brands for better connectivity

2022

of the fleet

doubled In the last 2 years

S

As of today, at least

EUR 55 bn

have been invested in ridesharing start-ups

E >40%

of models announced by 2021 will have EV1 powertrains Nearly

50%

of German consumers could image purchasing an EV1 as their next personal car Including battery EV (BEV) and plug-in hybrid EV (PHEV) Source: HIS; McKinsey Center for Future Mobility 1

5

Is Auto History Repeating?

Click to watch: The Economist (Video) - EVs in 2018

6

Source: http://www.visualcapitalist.com/everything-need-know-autonomous-vehicles/

7

Source: http://www.visualcapitalist.com/everything-need-know-autonomous-vehicles/

8

Advanced Technology in Autonomous Vehicles

Source: http://www.visualcapitalist.com/everything-need-know-autonomous-vehicles/

9

Autonomous Vehicles Will Save Lives

1.3 million the number of traffic fatalities worldwide per year1

35,000

the number of road related fatalities Americans suffer per year2

90%

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

10

Conditional automation Level 3

High automation Level 4

Full automation Level 5

Autonomous Vehicle Launch Timelines

CBInsights, State of Auto Tech 2018

11

The Ban is On‌ Many countries have already vowed to stop gas and diesel car sales:

UK + FRANCE To ban fossil fuel car sales by 2040

NORWAY All passenger cars and vans sold by 2025 should be zero-emission vehicles

Source: http://www.visualcapitalist.com/nickel-secret-driver-battery-revolution/

INDIA Every vehicle sold to be an EV by 2030

CHINA

In the largest car market in the world, the country hopes to ban gas vehicles to help target pollution

12

The Future Car Is Electric

$11 billion The amount Ford plans to spend on electric cars by 20221

2020

A hybrid or electric will be in every new model4

2025

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

Ford Motor Co. CEO on Jan 14, 2018 The Drive October 31, 2018

25

Electrified models by 20254

90%

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

31

New ‘eco-friendly’ models by 20204

International Monetary Fund (IMF): Riding the Energy Transition: Oil Beyond 2040 Digital Trends October 21, 2017 5 InsideEVs October 24, 2018

80

New electrified models by 20254

20

New all-electric car models on the road by 20232

2022

An electrified version of every model in its lineup4

3 4

13

The Rise of EVs

289 EV models will be available by 2022 – a jump from 155 at the end of 2017.

The global fleet of electric vehicles is likely to more than triple to 13 million by the end of the decade from 3.7 million last year (2017).

Sales may soar 24 percent each year on average through to 2030.

Source: BNN Bloomberg, 2018

14

Death of the Internal Combustion Engine

$5 billion the amount Ford plans to spend on electric cars1

20

the number of electric car models GM will have on the road by 20232

90%

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

Ford Motor Co. CEO on Oct 3 2017 Fortune.com Oct 2 2017 3 International Monetary Fund (IMF): Riding the Energy Transition: Oil Beyond 2040 1 2

15

China Accounts for 40% of Global EVs

Source: Visual Capitalist, 2017

16

Transition to Electric Vehicles

Source: Visual Capitalist, 2017

17

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

18

EVs Are Transforming Global Markets The confluence of many factors are key to achieving mass market penetration

Tesla may still dominate the U.S. market, but GM is closing in

19

10% EV Car Penetration Rate by 2025

20

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

Million - the number of years collectively that Americans spend commuting3

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 2

21

The Case for An Automobile Innovation ETF Americans alone spend a collective 3.4 MILLION YEARS commuting per year.

In the next decade, the auto industry will transform: • Car manufacturers and the companies in their supply chain; • The cars that are built; and • The consumers who buy them.

150 million electric vehicles are projected to be on the world’s roads by 2030 which is estimated to save nearly two million barrels per day of oil. 3 3

International Energy Agency (IEA)

22

CARS fits well into ESG Mandates Clean energy

Accident prevention

Clean electric power will replace fossil fuels not just in automotive applications.

The battery and power technology companies in CARS will serve the needs of many industries as the world moves to clean, renewable energy.

Autonomous driving technologies will save lives as they assist and eventually replace human drivers.

In the US, nearly half of all Americans live in areas that don’t meet federal air quality standards due to car-related smog. Poor air-quality is estimated to be responsible for 30,000 premature deaths each year.

Electrification solves these problems.

1.3 million people die in road accidents each year. The vast majority of these lives can be saved by removing human error and traveling in vehicles that are more aware of their surroundings and other traffic.

By comparison, only 827 people died from train related accidents in 2014.

23

Topical Conversations

Audi and NVIDIA to Create the World's Most Advanced AI Car

Plug Power - Newsmaker of the Year (Albany Business Review)

CES 2016: NVIDIA DRIVENet Demo – Visualizing a Self-Driving Future

Camera Radar Fusion Project with TI Automotive Processors

24

Company Spotlight: NVIDIA NVIDIA CORPORATION

Ticker: NVDA US

NVIDIA Corporation is the worldwide leader in graphics processors and media and communications devices. NVIDIA's product line enriches 3D, 2D, video, audio, communications, broadband connectivity, and high-definition digital video and television for every audience and platform including desktop PCs, game consoles, workstations, Internet-enabled appliances, Macintosh, and mobile PCs. Index Weight: 1.85% Country: United States Currency: USD Mkt Cap: 84.30 B

Industry: Technology Sector: Information Technology Div Yield: 0.46% P/E Ratio: 18.45

Click to watch: NVIDIA DRIVE Autonomous Vehicle Platform

As at January 7, 2019 Source: Google Finance

25

NVIDIA’s Growth Story (2017) NVIDIA (NVDA) has been witnessing strong growth, driven by demand in the following 4 segments: • Gaming • Data center

• Automotive • Professional visualization

NVIDIA is seeing the strong adoption of its Tesla V100 by major cloud providers such as Amazon.com and Microsoft, as well as from server manufacturers like Hewlett-Packard Enterprise and IBM.

26

NVIDIA’s Growth Story (2017)

27

CARS: Holdings1

1

As at February 28, 2019

28

CARS Performance

Growth of $100

Growth of $100

CARS (Hedged)

Total Returns* (%)

CARS.B (Unhedged)

1 MTH

3 MTH

CARS

3.65

CARS.B

3.51

Performance 6 MTH

YTD

1 YR

SI**

2.44

-10.70

15.35

-9.61

-3.92

1.86

-10.21

11.04

-8.84

0.60

Source: Bloomberg as at February 28, 2019. ** Performance since inception on September 29, 2017. * For the period ending February 29, 2019. The indicated rates of return are the historical annual compounded total returns including changes in per unit value and reinvestment of all dividends or distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. The rates of return shown in the table are not intended to reflect future values of the ETF or returns on investment in the ETF. ETFs are not guaranteed, their values change frequently and past performance may not be repeated.

The Growth of $10,000 chart is based on the historical daily net asset value per unit (NAV) of the ETF, and represents the value of an initial investment into the ETF of $10,000 since its inception, on a total return basis. Distributions, if any, are treated as reinvested, and it does not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder. The NAV values do contemplate management fees and other fund expenses where paid by the fund.

The chart is not a performance chart and is not indicative of future value which will vary.

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

Investors should monitor their holdings, as frequently as daily, to ensure that they remain consistent with their investment strategies.

29

Canada’s First Automobile Innovation ETF Evolve Automobile Innovation Index ETF INDICATIVE YIELD1

AVERAGE MARKET CAP

MINIMUM MARKET CAP

NUMBER OF HOLDINGS

CLASSES

1.6%

CAD 30 BILLION

CAD 500 MILLION

29

HEDGED, UNHEDGED & USD

MANAGEMENT FEE2

MANAGEMENT EXPENSE RATIO (MER)2,3

INDEX REBALANCING (EQUAL WEIGHT)

RISK RATING

INDICATIVE SPREAD4

0.40%

0.55%

QUARTERLY

MEDIUM TO HIGH

20bps

INDEX METHODOLOGY   

FactSet RBICS: Car Manufacturers (Top 5 ranked by R&D-to-Sales), Auto Interior Products (Top 5 ranked by R&D-to-Sales) FactSet RBICS: Fuel Cell and Technology Providers, Battery Manufacturing, Video Multimedia/Analog Semiconductors Minimum market capitalization of at least CAD 500 million, and minimum average daily value traded of CAD $5 million over the preceding 3 months

Name INDUSTRY ALLOCATIONWeight Information Technology 60% Consumer Discretionary 34% Industrials 6%

As at February 28, 2019 1 Gross of MER. 2 Plus applicable sales tax 3 Includes fixed administration fee of 0.15% 4 Estimate only

30

Who Should Consider CARS?

Investors who are: Interested in the investment opportunity provided by the transformation of the automobile.

Car ‘buffs’ or enthusiasts.

Interested in socially responsible investments and ESG mandates.

31

Did You Know… … that robotaxis will become a cheaper mobility option than private vehicles in urban environments in 2030? … that in 2030, one car in ten sold could be a shared car, according to the McKinsey Urban Mobility 2030 Berlin case study? … that in the McKinsey 2017 Consumer Survey, 67 percent of consumers currently using carsharing expect to increase their usage “a lot” in the next two years? … that there are currently 61 Chinese brands selling electric vehicles? … that Chinese government subsidies for electric vehicles reached EUR 4.8 billion in 2017? … that the Chinese government plans to increase the number of public charging poles from 200,000 to 5 million by 2020? … that the premium market share of traditional OEMs in the US decreased by 15 percent from 2013 to 2018, while Tesla’s market share in the same time increased from 1 to 6 percent? … that the US has led in total disclosed investments into future mobility technologies since 2010 with ~EUR 69 billion – followed by China with ~EUR 40 billion – and that the two European countries in the top 10 are the United Kingdom with EUR 2.3 billion and France with EUR 1.5 billion?

China expanded its market-leading position in BEV (Battery Electric Vehicle) sales over the last years while the EU and the US are lagging behind. China is leading the market as there has been a 145% increase in new BEV registrations since 2014.

32

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