ETF Opportunities Trust – T-REX 2X Long PENG Daily Target ETF is a United States-domiciled, non-diversified exchange-traded fund launched on August 4, 2026, and trading under the ticker PENU. The Fund seeks daily investment results, before fees and expenses, equal to 200% of the daily performance of Penguin Solutions, Inc. (Nasdaq: PENG), an AI and high-performance-computing infrastructure company. It is designed for short-term traders seeking leveraged long exposure to PENG’s daily share-price movements; it does not seek to deliver 200% of PENG’s cumulative performance over periods longer than one trading day. The Fund normally invests at least 80% of its net assets, plus borrowings for investment purposes, in financial instruments providing aggregate daily exposure to PENG, including swap agreements, exchange-traded options and other derivatives, and may also hold cash, cash equivalents and collateral instruments. ETF Opportunities Trust serves as the Fund’s statutory trust structure, while Tuttle Capital Management LLC manages the portfolio; the Fund forms part of the T-REX suite of leveraged and inverse single-stock ETFs, co-created by REX Shares and Tuttle Capital Management. PENU principally serves U.S. brokerage-account investors and active market participants seeking amplified, daily-reset exposure to Penguin Solutions shares, with leverage, derivatives, daily rebalancing and concentration in a single underlying issuer creating materially higher risk than a conventional equity ETF. The Fund’s principal recent development is its August 6, 2026 launch alongside the T-REX 2X Long AKAM Daily Target ETF and T-REX 2X Long DOCN Daily Target ETF, expanding the T-REX product lineup into leveraged exposure to Penguin Solutions, Akamai Technologies and DigitalOcean Holdings.