Rainwater Equity ETF Mid-Year 2026 Shareholder Update

Rainwater Equity ETF (NYSE: RW) portfolio manager Joseph Shaposhnik provides a Mid-Year 2026 Shareholder Update to investors. IN THIS UPDATE YOU’LL HEAR ABOUT The investment framework — The principles that guide our decisions: recurring revenue, exceptional management teams, and the discipline to hold great businesses for the long run Select holdings — A closer look at individual portfolio companies and drivers of performance Shareholder update — Where the portfolio stands today and how the strategy is being put into practice Investor Q&A — Joseph answers questions submitted by investors and advisors Learn more about the Rainwater Equity ETF (NYSE: RW): www.rainwateretf.com Connect with our team: investors@rainwatereq.com Timestamps 0:00 Welcome and disclosures 0:50 Fee reduction announcement 1:30 Strategy overview: recurring revenue businesses 2:25 Why recurring revenue compounds better 3:10 Second pillar: investing in great leaders 4:55 Q2 drivers of performance 5:10 Top contributor: Loar Holdings 5:50 Top contributor: Heico 7:20 Top contributor: Cisco 7:40 Detractor: GPGI / Husky Technologies 8:25 Detractor: Tel Aviv Stock Exchange 8:50 Detractor: Mama's Creations 9:30 What great compounders look like early 10:00 Case study 1: Constellation Software at IPO 13:10 Case study 2: TransDigm 16:20 Case study 3: Loar Holdings 20:00 Why you want to catch compounders young 20:25 Constellation update: annual meeting takeaways 21:35 How Constellation is approaching AI 22:35 Capital deployment runway 23:30 What Constellation actually owns 24:20 Optimal Blue: a marketplace, not just software 25:45 WideOrbit: mission-critical broadcast ERP 27:35 Q&A begins 28:00 Q: What does RW add to a Mag 7 portfolio? 31:25 Q: How do you view buybacks? 32:50 Q: Cheap compounders vs. existential threats 34:25 Q: How do you find compounders? 36:25 Closing remarks Disclosures & Disclaimers Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so shares may be worth more or less when redeemed or sold. Current performance may be lower or higher than that quoted. Visit www.rainwateretf.com for the fund’s standardized performance and holdings details. Cash Flow refers to the net amount of cash and cash equivalents being transferred into and out of a business. The fund is distributed by Pine Distributors, LLC. Pine is not affiliated with Empowered Fund, LLC dba ETF Architect, which serves as the Adviser to the funds. Not Investment Advice: The information provided in this video is for educational and informational purposes only and should not be construed as investment, legal, or tax advice. The views expressed by Joseph Shaposhnik are his own as of the date of recording and are subject to change without notice. No Solicitation: This content does not constitute an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Rainwater Equity. Any such offer or solicitation will be made only by means of a confidential private offering memorandum or prospectus. Risk of Loss: Investing in securities involves risk, including the potential loss of principal. Past performance is not indicative of future results. There is no guarantee that the investment strategies discussed will be successful or that the target returns mentioned will be achieved. Portfolio Holdings: Specific securities mentioned (such as Constellation Software, TransDigm, and Loar Holdings) are discussed to illustrate investment philosophy and should not be considered recommendations to buy or sell. These securities may or may not be held in portfolios managed by Rainwater Equity at any given time. Third-Party Content: This video was originally produced and published by Excess Returns. While Rainwater Equity has received permission to repost this content, it does not necessarily endorse all views or advertisements presented by the original creator or the YouTube platform.