2021 Capital Gains and Dividend Distribution Summary

December 16, 2021

We are defined by our philosophy and guided by our business principles as we invest and serve clients globally.

ANGIE K. LONG, CFA

Chief Investment Officer/Portfolio Manager

$29+ Billion

APPROX. FIRM AUM

INVESTMENT PROFESSIONALS

100%

MANAGEMENT OWNED

95%

CLIENT RETENTION RATE

The Palmer Square Income Plus Fund and Palmer Square Ultra-Short Duration Investment Grade Fund are distributed by IMST Distributors, LLC. The Palmer Square Opportunistic Fund is distributed by Foreside Fund Services, LLC.

You should consider the Funds’ investment objectives, risks, charges and expenses carefully before investing. For a prospectus, or summary prospectus, that contains this and other information about the Funds, call 866-933-9033 or visit our website at www.palmersquarefunds.com. Please read the prospectus, or summary prospectus carefully before investing.

Investing involves risk including loss of principal. The risks of an investment in a collateralized debt obligation depend largely on the type of the collateral securities and the class of the debt obligation in which the Fund invests. Collateralized debt obligations are generally subject to credit, interest rate, valuation, prepayment and extension risks.