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2023 163(j) Dividends for Corporate Investors

Section 163(j) Deduction

A portion of ordinary dividends received may be eligible to be treated by corporate shareholders as Section 163(j) interest dividends and thus qualify as business interest income when determining the limitation on their business interest expense deduction.

To determine the amount of each dividend you received in calendar year 2023 that is eligible to be treated as business interest income, multiply the ordinary dividend income received by the corresponding Section 163(j) interest dividend percentage provided.

PERCENTAGE TO APPLY TO ORDINARY DIVIDENDS FOR 2023

MUTUAL FUND NAME

PERCENTAGE

Avantis Core Fixed Income Fund*

100.00%

Avantis Short-Term Fixed Income Fund*

100.00%

*The holding period requirements for Section 163(j) interest dividends would not apply to this fund or ETF.

PERCENTAGE TO APPLY TO ORDINARY DIVIDENDS FOR 2023

ETF NAME

PERCENTAGE

Avantis Core Fixed Income ETF1

100.00%

Avantis Moderate Allocation ETF1

38.45%

Avantis Short-Term Fixed Income ETF1

100.00%

Exchange Traded Funds (ETFs) are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

1 This fund is an actively managed ETF that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund's performance may suffer.IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC – Distributor, not affiliated with American Century Investment Services, Inc.

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You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus or summary prospectus, which can be obtained by visiting Avantisinvestors.com or by calling 833-928-2684, contains this and other information about the fund, and should be read carefully before investing. Investments are subject to market risk.

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Mutual Funds: American Century Investment Services, Inc., Distributor.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC – Distributor, not affiliated with American Century Investment Services, Inc.

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