The Proposed Fee Waiver Agreement Will Contractually Be in Place for at Least a Year

Kelly ETFs, an exchange-traded fund (ETF) issuer that seeks to offer the opportunity to capture highly liquid, pure-play exposure to the best-in-class companies identified in each theme or sector, has reduced the Kelly Residential & Apartment Real Estate ETF (NYSE:RESI) net expense ratio to zero through a fee waiver agreement.

The RESI ETF was the first pure play ETF focusing on the residential and multifamily real estate sector with companies specializing in single-family residential homes, apartment buildings, student housing and manufactured homes. RESI seeks to track the Strategic Residential & Apartment Real Estate Sector Index.

"We believe the inflationary pricing power of our constituents, coupled with their necessity and strong demand, provides a compelling investment opportunity. Single family rentals and apartments, REITs reset their rents every year, which can serve as a hedge against inflation. Now investors can capture the benefits of investing in publicly traded residential REITs at a compelling expense ratio – zero," said Kevin Kelly, Founder of Kelly ETFs. "The RESI ETF could stand to benefit as the positive effects from the post-pandemic 'housing boom' are reverberating across U.S. rental markets with rents increasing at high rates."

Kevin Kelly is an established ETF expert with nearly two decades of financial industry experience. He also serves as the CEO of Kelly Benchmark Indexes, the index provider and sponsor of the real estate focused SRVR and INDS ETFs.

"Historically low housing supply comes at a time when household growth – the primary driver of housing demand – is strong and accelerating," noted Krista Kelly. "In a single trade, RESI delivers access to dozens of companies with exposure to all the sub-sectors of the multifamily theme seeking to provide a lower cost alternative to non-traded REITs, mutual funds, and private equity funds in an ETF."

Kelly Intelligence is the adviser, and index provider, for the RESI ETF. To learn more about Kelly ETFs and its product suite, please visit KellyETFs.com.

About Kelly ETFs

Kelly ETFs strives to create disruptive exchange-traded funds (ETFs) that offer investors the opportunity to capture highly liquid, pure-play exposure to the best-in-class companies identified in each emerging theme or sector. Based in Denver, the team is committed to building investment products with exposure to the world's most transformative companies and industries. For more information, visit KellyETFs.com.

Residential and Apartment Real Estate Companies Investing Risk. Real estate is highly sensitive to general and local economic conditions and developments. The U.S. real estate market may, in the future, experience and has, in the past, experienced a decline in value, with certain regions experiencing significant losses in property values. Many real estate companies, including REITs, utilize leverage (and some may be highly leveraged), which increases investment risk and the risk normally associated with debt financing, and could potentially increase the Fund's volatility and losses.

Limited Operating History Risk. The Fund is a recently organized investment company with a limited operating history. As a result, prospective investors have a limited track record or history on which to base their investment decision.

REIT Investment Risk. REITs may have limited financial resources, may trade less frequently and in limited volume, and may be more volatile than other securities. In addition, to the extent the Fund holds interests in REITs, it is expected that investors in the Fund will bear two layers of asset-based management fees and expenses (directly at the Fund level and indirectly at the REIT level). The risks of investing in REITs include certain risks associated with the direct ownership of real estate and the real estate industry in general.

With respect to the Kelly Residential & Apartment Real Estate ETF, the Adviser has agreed to reduce its unitary management fee to 0.00% of the Fund's average daily net assets through at least April 30, 2023. This agreement may be terminated only by, or with the consent of, the Fund's Board of Trustees, on behalf of the Fund, upon sixty (60) days' written notice to the Adviser. This Agreement may not be terminated by the Adviser without the consent of the Board of Trustees.

Before investing carefully consider a fund's investment objective, risks, charges, and expenses contained in the prospectus available at KellyETFs.com. Read carefully before investing.

Distributor: Foreside Fund Services, LLC.

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The Kelly Residential & Apartment Real Estate ETF Cuts Net Fee to Zero, Making RESI the Lowest Cost Real Estate ETF