Exchange Traded Concepts to Close and Liquidate Qraft AI-Enhanced U.S. High Dividend ETF

OKLAHOMA CITY, Jan. 6, 2023 /PRNewswire/ -- After careful consideration, Exchange Traded Concepts, LLC, the investment adviser to the Qraft AI-Enhanced U.S. High Dividend ETF the "Fund"), in consultation with Qraft AI ETFs, the Fund's sponsor, has recommended, and the Board of Trustees of Exchange Listed Funds Trust has approved, the termination and liquidation of the Fund pursuant to the terms of a Plan of Liquidation. Accordingly, the Funds are expected to cease operations and liquidate on or about January 23, 2023 (the "Liquidation Date").

The Fund will be closed to orders for new creation units on January 16, 2023, and the last day of trading the Fund's shares on the NYSE Arca Exchange, Inc. will be January 20, 2023. From January 16, 2023 through January 20, 2023, 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 the Fund's shares during that time period. Customary brokerage charges may apply to such transactions.

In anticipation of the liquidation of the Fund, the Fund will be managed in a manner intended to facilitate its orderly liquidation, such as by raising cash or making investments in other highly liquid assets. As a result, starting on January 16, 2023, all or a portion of the Fund may not be invested in a manner consistent with the Fund's stated investment strategy, which may prevent the Fund from pursuing its investment objective.

On or about the Liquidation Date, the Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders. This distribution is a taxable event. In addition, this payment to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, the Fund's net asset value will reflect the costs of closing the Fund. The Fund's ordinary income and capital gains distributions, if any, will be paid on January 23, 2023, to shareholders of record as of January 23,2023. Once the distributions are complete, the Fund will terminate.

If you would like additional information, please call 855-973-7880 or visit https://www.qraftaietf.com/

Fund shareholders of record as of the record date are eligible to receive dividends from the liquidation distribution. The Fund will liquidate and pay dividends to shareholders of record on the pay date.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. NAVs are calculated using prices as of 4:00 PM Eastern Time. Brokerage commissions will reduce returns.

Exchange Traded Concepts, LLC serves as the investment advisor to the Fund. The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Exchange Traded Concepts, LLC or any of its affiliates.

Carefully consider the Fund's investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by visiting www.qraftaietf.com. Read the prospectus carefully before investing.

Investments involve risk. Principal loss is possible. The Fund is subject to numerous risks including but not limited to: Equity Risk, Sector Risk, Large Cap Risk, Management Risk, and Trading Risk. The Fund relies heavily on a proprietary artificial intelligence selection model as well as data and information supplied by third parties that are utilized by such model. To the extent the model does not perform as designed or as intended, the Fund's strategy may not be successfully implemented and the Fund may lose value. Additionally, the fund is non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. As a result, each Fund may be more exposed to the risks associated with and developments affecting an individual issuer or a smaller number of issuers than a fund that invests more widely. A new or smaller fund's performance may not represent how the fund is expected to or may perform in the long-term if and when it becomes larger and has fully implemented its investment strategies. Read the prospectus for additional details regarding risks.

SOURCE Exchange Traded Concepts, LLC