IMPORTANT INFORMATION

The performance data quoted represents past performance. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

TCW Transform Systems ETF (NETZ) – Important Disclosures
Performance | March 31, 2024 

	1Q2024	1 Year	Annualized Since Inception 2/2/2022
TCW Transform Systems ETF (NETZ) Net Asset Value (NAV)	20.51	38.41	16.59
Market Price	20.66	38.63	16.67
Index	10.06	29.48	7.69

Source: TCW

NAV return represents the total return of the fund based on changes to the net assets and accounts for distributions from the fund. Market Price returns are calculated using the closing price and account for distributions from the fund.

NETZ expense ratio: 0.75%. Shares of any exchange traded fund (ETF) are bought and sold at market price (not net asset value (NAV)), may trade at a discount or premium to NAV and are not individually redeemed from the Funds. Brokerage commissions will reduce returns. NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times.

INDEX DISCLOSURE
Index refers to the Morningstar® U.S. Market Extended TR USD Index. The Morningstar® U.S. Market Extended TR USD Index is a service mark of Morningstar, Inc. and has been licensed for use for certain purposes by TCW The TCW Transform Systems ETF is not sponsored, endorsed, sold, or promoted by the Morningstar, Inc. or any of its affiliates (all such entities, collectively, “Morningstar Entities”). The Morningstar Entities make no representation or warranty, express or implied, to the owners of the TCW Transform Systems ETF or any member of the public regarding the advisability of investing in exchange traded funds generally or in the TCW Transform Systems ETF in particular or the ability of the Morningstar® U.S. Market Extended TR USD Index to track general equity market performance. It’s not possible to invest in an index.

THE MORNINGSTAR ENTITIES EXPRESSLY DISCLAIM ANY WARRANTY AROUND THE ACCURACY, COMPLETENESS AND/OR TIMELINESS OF ANY DATA INCLUDED THEREIN AND MORNINGSTAR ENTITIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN.

INVESMENT RISKS
Funds have different risk profiles, objectives, and expenses, which should be considered when investing. All investments contain risk and may lose value. Investing in securities and other financial instruments entails substantial risk, including the possible loss of principal. The investment opportunities discussed or referenced herein may not be suited for all investors, and potential investors must make an independent assessment of the appropriateness of any investment opportunity in light of their own objectives and circumstances, including the possible risk and benefits of entering into such an investment opportunity. References to other securities are not an offer to buy or sell. The information contained herein is not complete, may change and is subject to, and qualified in its entirely by, the more complete disclosures, risk factors and other information contained in the Fund prospectus. The information is furnished as of the date shown. No representation is made with respect to its completeness or timeliness. This information is not intended to be, nor shall it be construed as, investment advice or a recommendation of any kind. Certain information has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed.

TCW Transform Systems ETF (NETZ) is actively managed and may be susceptible to an increased risk of loss, including losses due to adverse events that affect the Funds’ investments more than the market as a whole, to the extent that the Funds’ investments are concentrated in the securities of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class. Shares are subject to the risks of an investment in a portfolio of equity securities in an industry or group of industries in which each Fund invests. Investments in emerging market countries may be subject to greater risks than investments in developed countries. The Funds may purchase and write put and call options on futures contracts that are traded on an exchange as a hedge against changes in value of its portfolio securities, or in anticipation of the purchase of securities, and may enter into closing transactions with respect to such options to terminate existing positions. There is no guarantee that such closing transactions can be effected.

TCW Transform Systems ETF is a non-diversified management investment company under the Investment Company Act of 1940. Diversification does not assure a profit or protect against a loss in a declining market. It’s not possible to invest in an index. An outbreak of an infectious respiratory illness, COVID-19, has resulted in significant economic impacts. Other infectious illness outbreaks in the future may result in similar or other impacts.

TCW may consider any sustainability factors as core to its investment process but its specific focus for the Transform Systems ETF will be on the environmental factors most relevant to climate change. TCW intends to incorporate sustainability insights and analysis to ultimately drive financial and operational performance however there is no guarantee that this strategy will be achieved, and such assessment is at TCW’s discretion. TCW does not use sustainability ratings or rankings to exclude specific companies, but instead uses its own proprietary analysis to attempt to make better informed decisions. The Transform Systems ETF may forgo certain investment opportunities that do not TCW’s criteria and results may be lower than other funds that use different or no sustainability criteria to screen out certain companies or industries.

Please see the Fund’s Prospectus for more information on these and other risks.

For fund standardized performance, risk disclosures, top 10 holdings, and more info on TCW Transform Systems ETF (NETZ): https://etf.tcw.com/netz

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TCW Transform Supply Chain ETF (SUPP) – Important Disclosures
Performance | March 31, 2024

	1Q2024	1 Year	Annualized Since Inception 2/14/2022
TCW Transform Supply Chain ETF (SUPP) Net Asset Value (NAV)	16.03	35.83	28.44
Market Price	16.18	35.97	28.54
Index	10.06	29.48	24.52

NAV return represents the total return of the fund based on changes to the net assets and accounts for distributions from the fund. Market Price returns are calculated using the closing price and account for distributions from the fund.

SUPP expense ratio: 0.75%.

Shares of any exchange traded fund (ETF) are bought and sold at market price (not net asset value (NAV)), may trade at a discount or premium to NAV and are not individually redeemed from the Funds. Brokerage commissions will reduce returns. NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times.

INDEX DISCLOSURE
Index refers to the Morningstar® U.S. Market Extended TR USD Index. The Morningstar® U.S. Market Extended TR USD Index is a service mark of Morningstar, Inc. and has been licensed for use for certain purposes by TCW The TCW Transform Climate ETF is not sponsored, endorsed, sold, or promoted by the Morningstar, Inc. or any of its affiliates (all such entities, collectively, “Morningstar Entities”). The Morningstar Entities make no representation or warranty, express or implied, to the owners of the TCW Transform Climate ETF or any member of the public regarding the advisability of investing in exchange traded funds generally or in the TCW Transform Climate ETF in particular or the ability of the Morningstar® U.S. Market Extended TR USD Index to track general equity market performance. It’s not possible to invest in an index.

THE MORNINGSTAR ENTITIES EXPRESSLY DISCLAIM ANY WARRANTY AROUND THE ACCURACY, COMPLETENESS AND/OR TIMELINESS OF ANY DATA INCLUDED THEREIN AND MORNINGSTAR ENTITIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN.

INVESMENT RISKS
Funds have different risk profiles, objectives, and expenses, which should be considered when investing. All investments contain risk and may lose value. Investing in securities and other financial instruments entails substantial risk, including the possible loss of principal. The investment opportunities discussed or referenced herein may not be suited for all investors, and potential investors must make an independent assessment of the appropriateness of any investment opportunity in light of their own objectives and circumstances, including the possible risk and benefits of entering into such an investment opportunity. References to other securities are not an offer to buy or sell. The information contained herein is not complete, may change and is subject to, and qualified in its entirely by, the more complete disclosures, risk factors and other information contained in the Fund prospectus. The information is furnished as of the date shown. No representation is made with respect to its completeness or timeliness. This information is not intended to be, nor shall it be construed as, investment advice or a recommendation of any kind. Certain information has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed.

TCW Transform Supply Chain ETF (SUPP) is subject to the following risks: Supply Chain Risks. Companies supply chains are generally subject to risk such as legislative or regulatory changes; adverse market conditions and/or increased competition; technological developments and changing technology; cyberattacks that may compromise a company’s operations or business; occasional sharp price movements which may result from changes in the economy, fuel prices, labor agreements, exchange rate movements, and insurance costs; pandemics, natural disasters or other crisis; boarder and/or import controls; pent-up /increased demand; mobility restrictions; shortages of product and labor; dependence on intellectual property rights, and potential loss or impairment of those rights; research and development costs; and rapid product obsolescence. Global, regional, or local events, such as changes to trade relations, trade restrictions, and/or military conflict, may materially disrupt or indefinitely impair the operations of these companies. Activism Risk. An activist investor uses an equity stake in a corporation to put public pressure on a company’s management team and board in order to achieve certain objectives such as the increase of shareholder value through changes in corporate policy or financing structure, or reduction of expenses. Non-Diversification Risk. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. Limited History of Operations Risk. The Fund is a new fund with no history of operations for investors to evaluate. Emerging Markets Risk Investments in securities and instruments traded in developing or emerging markets, or that provide exposure to such securities or markets, can involve additional risks relating to political, economic, or regulatory conditions not associated with investments in U.S. securities and instruments. Sustainability Investing Strategy Risk. The Fund intends to incorporate the Adviser’s sustainability investment insights and analysis into its portfolio construction process. The Fund may forgo certain investment opportunities if certain companies and industries that do not meet the Adviser’s criteria. The Fund’s results may be lower than other funds that use different sustainability criteria to screen out certain companies or industries. Concentration Risk. The Fund may be susceptible to an increased risk of loss, to the extent that the Fund’s investments are concentrated in the securities and/or other assets of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class.

Please see the Fund’s Prospectus for more information on these and other risks.

For fund standardized performance, risk disclosures, top 10 holdings, and more info on TCW Transform Supply Chain ETF (SUPP): https://etf.tcw.com/supp 

Important Disclosures
Before investing you should carefully consider the fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained from etf .tcw.com. Please read the prospectus carefully before you invest.

The Fund is advised by TCW Investment Management Company LLC. Distributed by Foreside Financial Services, LLC.
Effective October 13, 2023, TCW acquired the Transform ETF business from Engine No. 1 and the funds’ adviser became TCW Investment Management Company
LLC. Prior to that date, the funds’ adviser was Fund Management at Engine No. 1 LLC.
NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE; © 2025 TCW Group. All rights reserved.