LifeX ETFs Streamline Longevity Income Franchise

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NEW YORK--(BUSINESS WIRE)--Sep 5, 2025--

LifeX ETFs (“LifeX”) has announced a reorganization of its Longevity Income ETF franchise.

In an effort to simplify the product suite for investors:

• 14 of the Longevity Income ETFs will be reorganized with and into the 2050, 2055, 2060 and 2065 Longevity Income ETFs as described further below (each, a “Fixed Reorganization”).
• 14 of the Inflation-Protected Longevity Income ETFs (together with the 14 Longevity Income ETFs, the “Target ETFs”) will be reorganized with and into the 2050, 2055, 2060 and 2065 Inflation-Protected Longevity Income ETFs as described further below (together with the 2050, 2055, 2060 and 2065 Longevity Income ETFs, the “Acquiring ETFs”, and together with the Target ETFs, the “Funds”) (each such transaction, a “TIPS Reorganization”, and together with the Fixed Reorganizations, the “Reorganizations”).

Each Reorganization is expected to be a tax-free reorganization for U.S. federal income tax purposes. The closing date of each Reorganization is expected to occur on or about the date specified below (such date, the “Closing Date”). The last trading day for each Target Fund’s shares will be the trading day before the Closing Date specified in the table below.

Each Target ETF will be reorganized with and into the specified Acquiring ETF as set forth in the table below:

Shareholders of each Target ETF will receive shares of the specified Acquiring ETF with a value equal to the total net asset value of their Target ETF shares on the date of the Reorganization.

The Target ETFs and the Acquiring ETFs pursue substantially similar investment objectives, with each seeking to provide reliable monthly distributions (linked to inflation, in the case of the Inflation-Protected Longevity Income ETFs) consisting of income and principal through a specified end year.

Additionally, in order to simplify the payout structure of the Acquiring ETFs so that each one pays a constant fixed or inflation-protected monthly distribution for the full term of the ETF, each Acquiring ETF will undergo a reverse share split and pay a special cash distribution following its Reorganization.

Following the reverse share splits, the intended distribution amount per share for each Acquiring ETF will change to $0.8333 per outstanding share per month or $10.00 per share per year (adjusted for inflation in the case of the Inflation Protected Longevity Income ETFs) through December of the end year specified in such Acquiring ETF’s prospectus.

While the number of outstanding shares will decrease as a result, the reverse share split will not affect a LifeX ETF's portfolio holdings, its aggregate net asset value or the net asset value of a shareholder's investment. In addition, the reverse share split is not a taxable event and will not affect any shareholder’s rights, preferences, or privileges associated with a LifeX ETF’s shares.

For additional information about the reorganization, shareholders of the ETFs may call 855-609-3680.

About LifeX ETFs

LifeX ETFs are built to deliver predictable monthly distributions through their specified end year. These distributions are designed to be reliable and tax-efficient, combining both principal and interest income from U.S. government bonds. 1,2

The Longevity Income ETFs are designed to help investors confidently meet monthly spending needs as part of long-term retirement planning. Investors can choose between fixed or inflation-protected monthly distributions.

Footnotes

1. LifeX ETFs invest solely in U.S. government bonds to support their distributions. Government backing applies only to government issued securities and does not apply to the funds or their distributions. This information is not intended to be, nor should be construed or used as, tax advice. Please consult your attorney, accountant and/or tax advisor for advice regarding your particular tax situation. Please refer to the prospectus for a discussion of tax risks.
2. Individual bonds carry an obligation to fully return principal to investors at maturity, however ETFs have no such obligation. The net asset value of the ETFs will decline over time as income payments are made to shareholders.

Risk Disclosures

Investing involves risk. Principal loss is possible.

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the fund, please visit lifexfunds.com or call 855-609-3680. Please read the prospectus carefully before investing.

Each ETF intends to make an identical distribution each month equal to $0.8333 per outstanding share of the ETF through December of its specified end year. Unlike a traditional investment company with a perpetual existence, each ETF is designed to liquidate in December of its specified end year. However, due to certain risks impacting the market for the ETF’s investments, such as the risk of a U.S. government default, it is possible that an ETF may run out of assets to support its intended distributions prior to the end of its intended term. A portion of each distribution is expected and intended to constitute a return of capital, which will reduce the amount of capital available for investment and may reduce a shareholder’s tax basis in his or her shares.

If interest rates increase, shareholders face the risk that the value to them of an ETF’s distributions will decrease relative to other investment options that may be available at that time, and that the market value of their shares will decrease.

Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund.

The LifeX ETFs are distributed by Foreside Financial Services, LLC.

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PUB: 09/05/2025 05:00 PM/DISC: 09/05/2025 04:59 PM

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