Saba Capital Announces Name Change of the Saba Closed-End Funds ETF to Saba Opportunistically Hedged Closed-End Funds ETF

Fund’s Shares Will Continue to Trade on Cboe BZX Exchange Under the Ticker Symbol “CEFS”

Change Effective on August 19, 2026, Reflects Fund’s Longstanding Investment Practices

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today announced that, effective on August 19, 2026, the Saba Closed-End Funds ETF (Cboe BZX: CEFS) (the “Fund”) has changed its name to the “Saba Opportunistically Hedged Closed-End Funds ETF.” The Fund’s shares will continue to be listed on the Cboe BZX Exchange under the ticker symbol “CEFS.”

The Fund’s new name reflects its longstanding investment practices, including opportunistically hedging interest rate risk and broader portfolio market exposure.

Amended Principal Investment Strategy

The Fund’s Principal Investment Strategy has been amended to reflect the new name by including U.S. closed-end funds and non-U.S. equivalents as well as opportunistic hedges in its 80% policy.

Saba believes the U.K. currently represents the most compelling opportunity set within closed-end fund investing, and the Fund is one of a small number of U.S.-listed ETFs with a dedicated closed-end-fund mandate broad enough to permit investment in U.K.-listed investment trusts.

Additional information regarding the changes to the Fund’s name and Principal Investment Strategy is available in the Fund’s prospectus and statement of additional information, each dated August 19, 2026, which have been filed with the U.S. Securities and Exchange Commission and is available at www.sabaETF.com.

About Saba

Saba Capital Management, L.P. is a global alternative asset management firm that seeks to deliver superior risk-adjusted returns for a diverse group of clients. Founded in 2009 by Boaz Weinstein, Saba is a pioneer of credit relative value strategies and capital structure arbitrage. Saba has offices in New York City and London. Learn more at www.sabacapital.com.

Forward-Looking Statements

This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to: market developments, legal and regulatory developments and other additional risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Fund assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by visiting www.sabaETF.com. Investors should read it carefully before investing.

Exchange Traded Concepts, LLC serves as the investment advisor. Saba Capital Management, L.P. serves as sub-advisor to the fund and is responsible for all investment decisions. Foreside Fund Services, LLC serves as the distributor.

Investing involves risk, including possible loss of principal. The Fund is a “fund of funds,” its investment performance largely depends on the investment performance of the Underlying Funds in which it invests, and the Fund is subject to the risks associated with the Underlying Funds. Some of those underlying risks include, but is not limited to, investments in foreign securities, which may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund's portfolio, or the Underlying Funds, to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise. Derivatives may be more sensitive to changes in market conditions, amplifying risks. The Fund, or the Underlying Funds, may engage in writing covered call options, which may limit its opportunity to profit from an increase in the price of the underlying stock above the exercise price, but continues to bear the risk of a decline in the stock. A liquid market may not exist for options held by the Fund or the Underlying Funds. While the Fund, or the Underlying Funds, may receive premiums for writing the call options, the price it may realize from the exercise of an option could be substantially below a stock's current market price. High-yield bonds held by the Fund, or the Underlying Funds, have a higher risk of default or other adverse credit events, but have the potential to pay higher earnings over investment grade bonds. The higher risk of default, or the inability of the creditor to repay its debt, is the primary reason for the higher interest rates on high-yield bonds. Diversification may not protect against market risk.