HTAA, LLC (“HTAA” or the “Adviser”)is a Delaware Limited Liability Company formed in 2013. HTAA is a registered investment adviser located in Chicago, Illinois that provides investment advisory services as the investment adviser to an exchange traded fund, the Hull Tactical US ETF (“HTUS” or the “Fund”), a series of the Capitol Series Trust (“CST”). The Fund is an actively managed exchange-traded fund that seeks long-term capital appreciation. HTAA makes investment decisions for the Fund and continuously reviews, supervises and administers the investment program of the Fund. HTAA also provides investment advice and management to separately managed accounts (the “Separate Accounts,” and collectively with the Fund, the “Clients”). The services that HTAA provides to the Separate Accounts include initial advice regarding, and ongoing monitoring of, a Separate Account’s asset allocation, general investment consulting and active management of securities portfolios for those accounts. Clients have no opportunity to select or evaluate any fund investments or strategies. HTAA selects all investments and strategies and directs all trading via a discretionary investment advisory agreement. HTAA may tailor its services to the individual needs of Separate Account clients, but generally manages each such account according to the strategy selected by HTAA. Clients may impose restrictions on their Separate Accounts, but HTAA in the event restrictions imposed on such accounts would affect HTAA’s investment strategy, HTAA retains the right to terminate such accounts. HTAA’s principal

owner is HTAA Holdings LLC. Blair Hull is HTAA’s Chairman and Founder. As of December 31, 2023, HTAA had total discretionary assets under management of approximately $58,057,540. HTAA only manages assets on a discretionary basis. HTAA’s approach to investing is rooted in capturing and combining into an “ensemble” an array of signals spanning statistical, behavioral-sentimental, technical, fundamental, and economic data sources. Through the use of statistical modeling tools , the portfolio managers continually investigate these inputs and evaluate the evolving complex relationships between these factors and the market. HTAA utilizes a proprietary quantitative trading model that takes long and short positions in exchange traded futures contracts and ETFs that seek to track the performance of the S&P 500 Index, as well as leveraged ETFs or inverse ETFs that seek to deliver multiples, or the inverse, of the performance of the S&P 500. The S&P 500 Index is a widely recognized benchmark of U.S. stock market performance that is composed primarily of large capitalization U.S. issuers. The goal of the model is to achieve long-term growth from investments in the U.S. equity and Treasury markets, independent of market direction. Recognizing that no single model can indefinitely survive the test of time, the HTAA team is continually re-evaluating and adapting its models, combining strategies into a blended signal that informs fund allocations on a day-to-day basis. Please see Item 8 – “Methods of Analysis, Investment Strategies and Risk of Loss,” below for more information.