Formation and Ownership MarketDesk Indices LLC is a Limited Liability Company organized in the State of Missouri. The firm was formed in August 2022, and the principal owners are Matthew Clements and Jonathon Clements. MarketDesk Indices LLC is the discretionary sub-adviser (“Sub-Adviser”) to a 1940 Investment Company Act product, MarketDesk Focused U.S. Dividend ETF. MarketDesk Research LLC is a Limited Liability Company organized in the State of Missouri. The firm was formed in August 2019, and the principal owners are Matthew Clements and Jonathon Clements. MarketDesk Research LLC provides institutional research subscription services to registered investment advisors and other wealth management firms. Integrated Filing This Form ADV is an integrated filing for MarketDesk Indices LLC and MarketDesk Research LLC. Both entities are controlled by Matthew Clements and Jonathon Clements, share the same offices, have a single compliance program and management, and thus are treated as a single “registered entity” for all purposes in this Form ADV. Throughout this Brochure, MarketDesk Indices LLC and MarketDesk Research LLC are collectively referred to as “MarketDesk”, “We”, “Us”, or the “Firm”. ETF Sub-Advisory Services MarketDesk is the Sub-Adviser to the MarketDesk Focused U.S. Dividend ETF (“FDIV” or the “ETF”) providing sub-advisory services for an annual fee based on the percentage of the value of the assets that are sub-advised. MarketDesk provides discretionary advice to the adviser to FDIV but is not authorized to initiate any orders to purchase or sell any securities on behalf of FDIV. MarketDesk does not provide personalized advice to individual shareholders of FDIV. Terms of service are outlined in the Sub- Advisory Agreement, while terms of investment are detailed in the Fund’s prospectus. The Sub- Advisory Agreement executed between MarketDesk and the investment adviser of the ETF, Empowered Funds,

doing business as Alpha Architect, is the primary governance document which conveys explicit responsibilities and obligations to MarketDesk and its employees relative to portfolio management and monitoring, risk management reporting, and compliance with the Investment Company Act of 1940. Research Services MarketDesk provides registered investment advisors and other wealth management firms with a suite of institutional research tools centered around evidence-based investing. MarketDesk focuses on historical data, leading indicators, and statistical probabilities to guide core asset allocation ratings and tactical idea generation. MarketDesk’s public website (www.MarketDeskResearch.com) provides information about its research subscription services. Research content is only available on the password-protected website (www.MarketDeskPortal.com) for subscribers through an annual or quarterly subscription. Turnkey solutions include Asset Allocation Tools, ETF Model Portfolios, Stock Model Portfolios, White Label Client Communications, and The Quant Pack. MarketDesk provides “impersonal advisory services” to its subscribers. Under Rule 206(4)- 3(d)(3), impersonal advisory services are defined to be services that do not purport to meet the objectives or needs of specific clients, and statistical information containing no expression of opinions as to the investment merits of particular securities. MarketDesk does not provide personalized investment advice; all content, opinions and recommendations are impersonal and are not tailored to meet individual subscribers’ investment needs. Wrap Programs MarketDesk does not participate in wrap fee programs. Assets under Management As of the date of this Brochure, MarketDesk has total discretionary assets under management of approximately $89.2 million. MarketDesk does not manage any assets on a non-discretionary basis.