Subversive Capital Advisor Fund Closure Announcement

NEW YORK, March 15, 2024 /PRNewswire/ - Subversive Capital Advisor LLC (the "Advisor" or the "Company"), a Registered Investment Advisor primarily focused on different mission-driven emerging sectors, announced today that it has recommended, and the Board of Trustees of Series Portfolios Trust (the "Trust") has approved, the termination and liquidation of the Subversive Decarbonization ETF ("DKRB"), Subversive Food Security ETF ("KCAL"), and Subversive Mental Health ETF ("SANE"), collectively (the "Funds") effective immediately after the close of business on March 28, 2024.

"While these strategies are gaining traction outside the US, they remain a small portion of the market domestically. Despite our efforts to capture investor interest with unique offerings, it's clear that the appetite for these strategies hasn't matched that of index ETFs or well-established institutional options." said Subversive's Portfolio Manager, Christian H. Cooper.

Each Fund's last day of trading will be March 27, 2024, which will also be the final day for creation unit orders by authorized participants. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after March 28, 2024. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the Fund's net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.

Subversive Capital Advisor LLC is a Registered Investment Advisor.

The firm's investment strategies primarily focus on different mission-driven emerging sectors that we believe will shape the economy of the future. The companies we invest in are bold, daring, and uninhibited enough not to let the world as it exists today limit their imagination for opportunities of the future.

Carefully consider Subversive's investment objectives, risks, charges and expenses. This and other information is in the various prospectuses, copies of which may be obtained by calling 877.291.4040. Please read these prospectuses carefully before you invest.

Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund.

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