ETF Series Solutions – The Frontier Economic Fund is a non-diversified, passively managed exchange-traded fund series that provides investors with exchange-traded exposure to companies with significant economic ties to Alaska. Trading on NYSE Arca under the ticker AKAF, the Fund seeks to track, before fees and expenses, the total-return performance of the Alaska Last Frontier Index, a proprietary index created by Vident Asset Management. The Fund primarily invests in equity securities of companies selected for meaningful Alaska-based operations, employee presence, capital investment and contributions to state revenue; portfolio exposure spans industrials; energy; materials; transportation; mining; tourism; consumer-related businesses; and other companies linked to Alaska’s economic activity. It generally employs a replication strategy by holding index constituents in approximately their index weightings, but may use representative sampling and may invest in other securities to facilitate tracking, corporate actions, index rebalances or liquidity management; it may also engage in securities lending. Shares are bought and sold through brokers in the secondary market, while creation and redemption activity is conducted in Creation Units by authorized participants. The Fund is a series of ETF Series Solutions, a registered investment company headquartered in Milwaukee, Wisconsin, and is advised and administered through its service-provider structure, with Vident Asset Management serving as asset manager and index provider. AKAF was launched in June 2025 through a partnership between Prospr Aligned and Vident Asset Management, positioning it as an investment vehicle designed to provide institutional and other investors with targeted exposure to the Alaska economy. In July 2026, Prospr Aligned and Vident marked the Fund’s first year of trading and reported that its portfolio had expanded to approximately 147 companies; industrials, energy and materials collectively represented more than 60% of holdings, reflecting continued emphasis on Alaska-linked workforce, resource and infrastructure activity.