Innovator ETFs Trust – Innovator Equity Dual Directional 15 Buffer ETF – March is an actively managed exchange-traded fund designed to provide capital appreciation through defined-outcome exposure to the price performance of the SPDR S&P 500 ETF Trust, which seeks to track the S&P 500 Index. The fund, trading on Cboe BZX under the ticker DDFM, uses a portfolio of customized FLEX Options and other derivatives referencing the underlying ETF to provide investors with participation in both positive and negative market movements over an approximately one-year outcome period, subject to predetermined limits. Its principal offering is a dual-directional buffered strategy that provides upside participation up to an upside cap when the underlying ETF rises, inverse-return participation up to a separate inverse cap when the underlying ETF declines, and a 15% buffer against losses in the underlying ETF during the applicable outcome period; losses beyond the buffer remain subject to investment risk. The fund resets its outcome parameters annually, with the current March outcome period running from March 1, 2026 through February 28, 2027. DDFM is intended for investors seeking defined-risk, options-based exposure to U.S. large-cap equities rather than direct ownership of the underlying ETF’s constituent securities. Innovator Capital Management, LLC serves as investment adviser and Milliman Financial Risk Management LLC serves as sub-adviser; the fund is a series of Innovator ETFs Trust, is domiciled in the United States, and is headquartered through the trust’s Wheaton, Illinois address. The fund was formed in February 2026 and commenced trading on March 2, 2026, representing a recent expansion of Innovator’s defined-outcome ETF lineup through the launch of the March-series Dual Directional 15 Buffer strategy. As of September 2026, the fund carries a 0.79% expense ratio and continues to operate as an annually rebalanced, open-end ETF.