CAMBRIA GLOBAL ALLOCATION SERIES

CAMBRIAGLOBAL ALLOCATION SERIESWhy a Global Allocation Strategy?Go AnywhereA global allocation, ‘go-anywhere’,strategy allows investors topurchase one fund with globalaccess to multiple strategies.Flexible, UnconstrainedThe strategy allows a flexible,unconstrained approach to avariety of asset classes withouthaving to adhere to industrybenchmarks.Strategy for All SeasonsGlobal allocation strategiesoffer investors access to manygeographies, styles, sectors andmarkets to help capture returnsof global markets during variouseconomic regimes, and offer riskmitigation at the same FLATIONINFLATIONDECLININGINFLATION

0%12/01/2014U.S. Equity12/01/201512/01/2016International EquityGlobal Fixed al Equity U.S. Fixed IncomeInternational Fixed IncomeU.S. Alternative Commodity Real EstateWhy Cambria’s Global Allocation Series ETFs?Current Allocation as of 3/31/21International Equity (24.9%)US Fixed Income (20.8%)Current Allocation as of 3/31/21US Equity (17.7%)“Buy and Hold”International Fixed Income (15.2%)InternationalEquity (24.9%)Commodity (8.0%)US Fixed Income (20.8%)Cash (6.8%)US Equity (17.7%)Long/Short Equity (6.1%)InternationalFixedIncomeAlternative - TailRisk(0.4%)(15.2%)Commodity (8.0%)GAA is a global allocation ETF thatprimarily invests in stocks and bonds,but with a targeted 10% exposure tonon-traditional assets.GAA has a permanent 0%management fee and a 0.37% total“Buy and Hold”expensefrom underlying ETFs.“Buy and Trend”SOURCE: Morningstar,Cambria calculations as of3/31/21. Subject to change.Cash (6.8%)GAA targets an allocation of 45% equities, 45% fixed income and 10%Long/Short Equity (6.1%)to other asset classes such as commodities, currencies, real estate andAlternative - Tail Risk (0.4%)alternative strategies.Current Allocation as of 3/31/21International Equity (27.1%)US Equity (23.1%)Current Allocation as of 3/31/21Alternatives - Managed Futures,Long/Short Equity (17.0%)InternationalEquity(27.1%)US Fixed Income(14.0%)USEquity nternational- FixedIncome(5.4%)Long/Short Equity (17.0%)Cash (5.1%)US Fixed Income (14.0%)Commodity (8.4%)“Buyand Trend”“Trend”“Buy and Hold”TRTY is a global allocation ETF thattargets 50% in traditional assets likestocks and bonds, but also targets50% in non-traditional assets.TRTY has a permanent 0%management fee and a 0.48% total“Trend”expense from underlying ETFs.“Buy and Trend”International Fixed Income (5.4%)SOURCE: Morningstar,Cambria calculationsas of 3/31/21. Subjectto change. Alternativecategory includes managedfutures, tail risk and long/short equity allocations.Subject to change.Cash (5.1%)TRTY targets an allocation of 25% equities, 25% fixed income, 35% trendfollowing and 15% to other asset classes such as commodities, currencies,real estate and alternative investments.GMOM Allocation Since Inception100%90%80%70%“Trend”60%50%GMOM is a global allocationETF that doesn’t have targetedweightings to asset classes.Instead, GMOM has a ‘go-anywhere’approach based on measures oftrend and momentum.GMOM will go where the trend andmomentum is in the market. It willinvest in stocks, bonds, commodities,currencies, and real currencies.40%30%20%10%0%12/01/2014U.S. Equity12/01/201512/01/2016International EquityGlobal Fixed al Equity U.S. Fixed IncomeInternational Fixed IncomeU.S. Alternative Commodity Real EstateSOURCE: Bloomberg. Subject to change. GMOM Allocation Since Inception to 4/8/21.

GAA - Cambria Global Allocation ETF Investment MethodologyUNIVERSECambria invests inapproximately 29 ETFsacross U.S. and foreignequity, fixed income,commodity and currencymarkets, offering exposureto over 20,000 underlyingsecuritiesBUY & HOLD45% target allocationto global stocksTAX OPTIMIZATIONRebalanced annually toseek optimal tax exposurefor share-holders45% target allocationto global bonds10% to other assetclasses such ascommodities, currencies,real estate andalternative strategies.TRTY - Cambria Trinity ETF Investment MethodologyUNIVERSEBUY & HOLDTREND FOLLOWING25% target allocation toglobal stocksCambria invests inapproximately 17 ETFsacross that provideexposure to major assetclasses in various regions,countries and sectorsaround the globe25% target allocation toglobal bonds35% target allocation totrend following15% to other asset classessuch as commodities,currencies, real estate andalternative investments.TAX OPTIMIZATIONRebalanced annually toseek optimal tax exposurefor share-holders

GMOM - Cambria Global Momentum ETF Investment MethodologyUNIVERSECambria evaluatesa universe of 50ETFs across U.S.and foreign equity,fixed income,commodity andcurrency marketsMOMENTUMTRENDREBALANCETop 33% of theUniverse is targetedbased on short-tolong-term trailingmomentumCambria uses along-term trendfollowing approachto ensure that theholdings are in anuptrendGMOM is rebalancedmonthly to optimizetax holdings andattempt to minimizetax exposureApproximately 17ETFs are selectedeach month andequally weightedIf selected holdingis in a down-trend,that allocation willbe moved to a cashor bond ETF

Definitions:Managed Futures: Generally defined as an investment strategy thatseeks to hold a diversified, managed portfolio of futures contracts.Tail Risk: A risk management strategy that references the ‘tails’ ofthe distribution curve. The strategy attempts to hedge the risk ofsignificant market events.Long/Short Equity: An investment strategy that attempts to earnreturns by initiating long positions (buy) in securities that appearundervalued, as well as identify and initiate short positions (sell) insecurities that appear to be overvalued.To determine if these funds are an appropriate investment for you,carefully consider the Fund’s investment objectives, risk factors,charges and expense before investing. This and other informationcan be found in the Fund’s full and summary prospectus which maybe obtained by calling 855-383-4636 (ETF INFO) or visiting ourwebsite at www.cambriafunds.com. Read the prospectus carefullybefore investing or sending money.The Cambria ETFs are distributed by ALPS Distributors Inc., 1290Broadway Suite 1000 Denver CO 80203, which is not affiliated withCambria Investment Management, LP, the Investment Adviser forthe Fund. Check the background of ALPS on FINRA’s BrokerCheck.Cambria Global Asset Allocation ETF is actively managedCambria Trinity ETF is actively managedCambria Global Momentum ETF is actively managedETFs are subject to commission costs each time a “buy” or “sell”is executed. Depending on the amount of trading activity, the lowcosts of ETFs may be outweighed by commissions and relatedtrading costs.Shares are bought and sold at market price (closing price) not netasset value (NAV) are not individually redeemed from the Fund.Market price returns are based on the midpoint of the bid/askspread at 4:00 pm Eastern Time (when NAV is normally determined),and do not represent the return you would receive if you tradedat other times. Buying and selling shares will result in brokeragecommissions. Brokerage commissions will reduce returns.There is no guarantee that the Funds will achieve investment goals.Investing involves risk, including the possible loss of principal. Inaddition to the normal risks associated with investing, internationalinvestments may involve risk of capital loss from unfavorablefluctuation in currency values, from differences in generallyaccepted accounting principles, or from social, economic, orpolitical instability in other nations. These risks are especially highin emerging markets. Bonds and bond funds are subject to interestrate risk and will decline in value as interest rates rise. Investmentsin commodities are subject to higher volatility than more traditionalinvestments. The funds may invest in derivatives, which are oftenmore volatile than other investments and may magnify the Fund’sgains or losses. The use of leverage by the fund managers mayaccelerate the velocity of potential losses. The Funds employa “momentum” style of investing that emphasizes investing insecurities that have had higher recent price performance comparedto other securities. This style of investing is subject to the risk thatthese securities may be more volatile than a broad cross-sectionof securities or that the returns on securities that have previouslyexhibited price momentum are less than returns on other stylesof investing or the overall stock market. Investments in smallercompanies typically exhibit higher volatility. Diversification may notprotect against market loss.There is no guarantee dividends will be paid. The Fund may tradesecurities actively, which could increase its transaction costs(thereby lowering its performance) and could increase the amountof taxes you owe by generating short-term gains, which may betaxed at a higher rate.There are special risks associated with margin investing. As withstocks, you may be called upon to deposit additional cash orsecurities if your account equity declines.S&P’s Balanced Equity and Bond Index Series is comprised ofthree multi-asset class indices, each with a particular risk level.The indices consist of U.S. Treasury Bonds and Equities with thefollowing asset mix proportions: Conservative: 75% Treasuries /25% Equities, Moderate: 50% Treasuries / 50% Equities, Growth:25% Treasuries / 75% Equities.Index returns are for illustrative purposes only and do not reflectany management fees, transaction costs or expenses. Indexes areunmanaged and one cannot invest directly in an index. 2021 Morningstar, Inc. All Rights Reserved. The informationcontained herein: (1) is proprietary to Morningstar and/or itscontent providers; (2) may not be copied or distributed; and(3) is not warranted to be accurate, complete or timely. NeitherMorningstar nor its content providers are responsible for anydamages or losses arising from any use of this information. Pastperformance is no guarantee of future results.Cambria Investment Management, LP2321 Rosecrans Avenue, Suite 3225 El Segundo, CA 90245 (310) 683-5500 www.cambriafunds.comCBM000359

NIERSE B OL TA OPTIMIATION NIERSE TREN OLLOING B OL TA OPTIMIATION NIERSE MOMENTM TREN REBALANCE 45% target allocation to global stocks 45% target allocation to global bonds 10% to other asset classes such as commodities, currencies, real estate and alternative strategies. 25% target allocation to global