ARK Investment Management LLC Announces It Will Close the ARK Transparency ETF (the "Fund") Ticker CTRU

ST. PETERSBURG, Fla., July 19, 2022 /PRNewswire/ -- ARK Investment Management LLC ("ARK" or "ARK Invest"), an investment adviser focused solely on thematic investing in disruptive innovation, was notified in July 2022, that Transparency Global will stop calculating The Transparency Index™ (TRANSPCY) effective July 31, 2022. While ARK investigated alternative Index providers, it did not find a suitable solution and decided to close the Fund effective July 26, 2022, or as soon as practical thereafter.

The Fund will stop accepting creation units of the fund effective the close of business Thursday July 21, 2022 and the Fund will cease trading on the Cboe BZX Exchange (CBOE) as of the close of regular trading on the CBOE on Tuesday July 26^th (the "Closing Date").

Prior to the Closing Date, shareholders may redeem their investment in the Fund at any time by requesting the redemption through their financial intermediary. All redemption orders will be transacted in-kind through an Authorized Participant and customary brokerage charges may apply. However, on the Closing Date shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for a Fund's shares during this period. Between the Closing Date and July 29, 2022 (the "Payable Date"), the Fund will be in the process of closing and liquidating its portfolio. This process will result in a Fund increasing its cash holdings and, consequently not tracking its underlying index, which is inconsistent with the Fund's investment objective and strategy. On or about the Payable Date, the Fund will distribute any remaining cash pro rata to all shareholders who have not previously redeemed or sold their shares.

The above distributions may be considered taxable events. In early 2023, you will receive tax correspondence from your financial intermediary outlining any taxable capital gains and dividends, if applicable.

The Fund will cease operations after all redemptions are processed.

The Fund became effective on Wednesday, December 8^th, 2021. From inception, the Fund sought to provide investment results that closely correspond, before fees and expenses, to the Transparency Index™ (TRANSPCY), which was designed to track the stock price movements of the 100 most transparent companies in the world based on a proprietary scoring methodology developed by Transparency Global (Index Provider).

Based in St. Petersburg, Florida, ARK Investment Management LLC is a federally registered investment adviser and privately held investment firm with approximately $24 billion assets under management as of June 30, 2022. Specializing in thematic investing in disruptive innovation, the firm is rooted in over 40 years of experience in identifying and investing in innovations that should change the way the world works. Through its open research process, ARK identifies companies that it believes are leading and benefiting from cross-sector innovations such as robotics, energy storage, DNA sequencing, artificial intelligence, and blockchain technology. ARK's investment strategies include: Autonomous Technology and Robotics, Next Generation Internet, Genomic Revolution, Fintech Innovation, 3D Printing, Israel Innovative Technology, Space Exploration, and the overall ARK Disruptive Innovation Strategy.

For additional information regarding ARK's funds, please visit http://www.ark-funds.com.

For more information regarding ARK's research and advisor services, please visit http://www.ark-invest.com.

Distributor: Foreside Fund Services, LLC

Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus and summary prospectus, which may be obtained by visiting www.ark-funds.com. Please read the prospectus carefully before you invest. 

The principal risks of investing in ARK's Index ETFs include equity, market, concentration and non- diversification risks, as well as fluctuations in market value and net asset value ("NAV"). The principal risks of investing in CTRU: Equity Securities Risk. The value of the equity securities the Fund holds may fall due to general market and economic conditions. Foreign Securities Risk. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities. Index Tracking Risk. The returns of the ETF may not match the returns of the underlying index that the ETF is designed to track. Consumer Discretionary Sector Risk. Companies in this sector may be adversely impacted by changes in domestic/international economies, exchange/interest rates, social trends and consumer preferences. Industrials Sector Risk. Companies in the industrials sector may be adversely affected by changes in government regulation, world events, economic conditions, environmental damages, product liability claims and exchange rates. Information Technology Sector Risk. Information technology companies face intense competition, both domestically and internationally, which may have an adverse effect on profit margins. Detailed information regarding the specific risks of CTRU ETF can be found in the prospectus. Additional risks of investing in CTRU include equity, market, management and non-diversification risks, as well as fluctuations in market value and NAV. An investment in an ETF is subject to risks and you can lose money on your investment in an ETF. There can be no assurance that the ETF will achieve its investment objective. The ETF's portfolio is more volatile than broad market averages. Shares of CTRU are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. ETF shares may only be redeemed directly with the ETF at NAV by Authorized Participants, in very large creation units. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

Index Descriptions: The Transparency Index^™ is composed of equity securities and American Depositary Receipts ("ADRs") traded on U.S. public securities exchanges that are considered the 100 most transparent companies in the world based on a proprietary scoring methodology provided by Transparency, LLC. Transparency, LLC has contracted with Solactive AG to maintain the Index rules and methodology, calculate the Index and disseminate information about the Index including the performance shown herein. Solactive does not manage actual assets. The Index is unmanaged, which means that the companies included in the Index are selected according to a proprietary algorithm of Transparency Invest that serves as the basis of the Index methodology. The Index is equal weighted, which means that the 100 companies included in the Index each represents approximately 1% of the Index – with variations due to market performance. Solactive rebalances the Index back to a 1% weight for each index constituent at the end of every quarter using the Index methodology explained herein.

Contact: Shaina Lamb, 517-652-1296, [email protected]

SOURCE ARK Investment Management