XOUT U.S. LARGE CAP INDEX

COMMITTEE/TEAM

EQM Indexes LLC has assembled a team of financial and industry professionals with years of experience to serve on its Index Committee. The role of the Committee is to ensure the index is being managed according to its stated rules and guidelines. Furthermore, the Committee may periodically review the index’s methodology, vote on rule changes, vote on additions or deletions, and use their combined industry expertise to determine which stocks qualify to be considered as index candidates. The Committee formally meets before each quarterly rebalance/reconstitution date, and communicates informally throughout the year as other issues arise.

The members of the XOUT U.S. Large Cap Index Committee are:

Jane Edmondson

Co-Founder of EQM Indexes LLC and Founder of EQM Capital LLC.

Ms. Edmondson is a former Quantitative Portfolio Manager with Allianz Global Investors and its predecessor firm Nicholas-Applegate. She started her career at Merrill Lynch and has more than 30 years of experience in the investment industry. She holds an MBA in Finance from San Diego State University and a BA from UC Irvine.

David Barse

Mr. Barse is the Founder and Chief Executive Officer of XOUT Capital LLC™ and the Founder of DMB Holdings, a private equity family office. He was formerly the CEO of Third Avenue Management for 25 years, a pioneer in fundamental, bottom-up deep value investing. He earned his J.D. at Brooklyn Law School and holds a Bachelor’s Degree from George Washington University.

Mark Abssy

Mr. Abssy is the Founder of All You Can ETF LLC, a consultancy focused on index and ETP development. He has product development/management experience with mutual funds, closed-end funds, ETFs, ETNs, listed derivatives and has been directly involved in the development of a number of innovative products across multiple issuers. In his 24-year career he has held product development and management positions at NYSE|ICE, ISE ETF Ventures, Morgan Stanley, Fidelity Investments and Loomis Sayles. He received a BSBA from Northeastern University with a focus in Finance and International Business.

Todd Crescenzo, CFA

Mr. Crescenzo, CFA has been involved in the global capital markets since 1999. Mr. Crescenzo was formerly a Portfolio Manager and Chief Investment Officer at Investment Placement Group where he managed the firm’s Global Credit portfolio strategies and overall asset allocation. He was also formerly a Partner, Portfolio Manager and Head of Research at LM Capital Group. Prior to LM Capital Group, he was a research analyst and assistant portfolio manager with Advisors Asset Management. He received an undergraduate degree in Industrial Relations from the University of North Carolina and a Master’s degree with distinction in International Business with an emphasis in finance from the University of California, San Diego.

Paul Ang

Mr. Ang, EQM’s Natural Resource and Thematic Equity Specialist, was formerly Partner, Vice President and Portfolio Manager for Summit Global Management, Inc., managing Summit’s Water Equity Fund and Water Infrastructure Multifactor ETF. Prior to joining Summit Global Management, he worked for Paine Webber and Bank of America and has more than 25 years of financial industry experience. He earned his M.S. in Finance and B.S. in Business Administration from San Diego State University.

Disclosure:

EQM Capital, LLC (“EQM Capital”) is an investment adviser registered with the State of California. Additional information regarding EQM Capital can be found in EQM Capital’s Form ADV Part 2A which is available on the SEC’s web site at www.adviserinfo.sec.gov. While under common ownership, EQM Capital does not control EQM Indexes, LLC.

EQM Indexes LLC is not affiliated with any of the firms listed above in the committee member biographies.