Angel Oak High Yield Opportunities ETF — Angel Oak Strategic Credit Fund — Fact Sheet (December 2025)

2 slides from Angel Oak High Yield Opportunities ETF's fact sheet, Dec 31, 2025

Slide 1: Angel Oak Strategic Credit Fund (ASCIX)
Angel Oak Strategic Credit Fund (ASCIX) 8+ Years of Strong Outperformance, Attractive Risk Characteristics & High Income 1. Attractive Cumulative Return 2. Strong Risk-Adjusted Results 3. High Income* ↑ Strong Outperformance High Relative 9.49% 1.17 Sharpe Ratio Since inception, ASCIX has delivered
Slide 2: Net Total Returns (as of 12/31/25)
Angel Oak Capital Advisors December 31, 2025 Annualized Gross Exp. Net Exp. Net Total Returns (as of 12/31/25) 4Q25 YTD 1 Year 3 Year 5 Year Inception1 Ratio* Ratio* Class I 1.21% 7.98% 7.98% 10.27% 8.32% 6.89% 1.90% 1.90% BBg U.S. Corporate High Yield Index 1.31% 8.62% 8.62% 10.06% 4.51% 5.16% - -