Recent news highlights BDRY's market activity and sector context, including a new 52-week high and increased attention amid rising tanker rates and oil price surges.

• BDRY hit a new 52-week high in August 2026, reflecting increased market interest in shipping ETFs [N4].
• Recent market conditions show surging oil prices and soaring tanker rates, which have brought ETFs like BDRY into focus [N1].
• Analyst commentary includes BDRY among highlighted freight ETFs benefiting from current market dynamics [N2].
• Freight ETFs, including BDRY, have been noted for strong year-to-date performance amid broader freight market trends [N3].
• Shipping ETFs, including BDRY, have outperformed broader indices during geopolitical tensions such as the Hormuz blockade [N5].

BDRY offers investors direct exposure to the dry bulk shipping freight market through a professionally managed benchmark portfolio of exchange-cleared futures contracts. The ETF's transparent investment strategy, with detailed public disclosures and annual rebalancing, supports investor confidence. The Trust's ability to maintain liquidity through cash and equivalents and its avoidance of leverage or borrowing reduces financial risk. Recent market developments, including rising tanker rates and oil price surges, have coincided with BDRY reaching new 52-week highs, indicating market interest and potential for capital appreciation within the commodity shipping sector.

BDRY's investment in futures contracts exposes it to market risks inherent in freight futures price volatility and potential imperfect correlation between futures prices and underlying shipping rates. The Trust's reliance on margin requirements and daily variation margin payments introduces liquidity risk, especially in volatile markets. The absence of borrowing and pyramiding limits leverage but may constrain capital deployment flexibility. Market disruptions, such as geopolitical events or changes in shipping demand, could adversely affect freight futures prices and, consequently, BDRY's performance. Additionally, the Trust's relatively small cash holdings as of the last reported period may limit its ability to meet margin calls in stressed conditions.

Amplify Commodity Trust's moat lies in its specialized focus on commodity futures exposure through exchange-traded funds, specifically targeting dry bulk shipping freight futures. The Trust benefits from a structured benchmark portfolio maintained by a registered Commodity Trading Advisor, Breakwave Advisors LLC, ensuring professional management and adherence to regulatory standards. The use of exchange-cleared futures contracts reduces counterparty risk and enhances transparency. The Trust's established relationships with service providers, including custodians and marketing agents, support operational efficiency. Its listing on a major exchange (NYSE Arca) provides liquidity and accessibility to investors seeking targeted commodity exposure.

• Market Risk: BDRY is exposed to freight futures price volatility, which can lead to significant fluctuations in the ETF's value.
• Liquidity Risk: Margin requirements and daily variation margin obligations may create liquidity pressures during volatile market conditions.
• Correlation Risk: Imperfect correlation between futures prices and actual shipping rates may affect the ETF's tracking accuracy.
• Operational Risk: Dependence on service providers for administration, custody, and marketing introduces operational dependencies.
• Geopolitical and Economic Risk: Events affecting global shipping demand or freight rates can materially impact the ETF's underlying futures contracts.

• Amplify Commodity Trust is a Delaware statutory trust formed on July 23, 2014, and renamed from ETF Managers Group Commodity Trust I after a sponsor change in February 2024.
• The Trust includes two series: Breakwave Dry Bulk Shipping ETF (BDRY) and Breakwave Tanker Shipping ETF (BWET), both commodity pools trading on NYSE Arca.
• BDRY commenced investment operations and trading on March 22, 2018, under the symbol 'BDRY'.
• The Sponsor of the Trust is Amplify Investments LLC, which manages and controls the Funds and charges a management fee.
• BDRY's investment objective is to provide exposure to daily changes in dry bulk freight futures prices by tracking a benchmark portfolio of exchange-cleared futures contracts on dry bulk freight.
• The BDRY Benchmark Portfolio is maintained and rebalanced annually by Breakwave Advisors LLC, which also serves as BDRY's Commodity Trading Advisor (CTA).
• The BDRY Benchmark Portfolio holds long-only positions in Capesize (50%), Panamax (40%), and Supramax (10%) dry freight futures contracts, excluding swaps or non-cleared OTC derivatives.
• BDRY invests substantially all assets in Dry Freight Futures, settling positions in cash as they mature and rolling into next quarter futures to maintain exposure.
• Margin requirements for futures range from approximately 10% to 40% of notional value, with daily variation margin adjustments.
• BDRY holds cash or cash equivalents such as U.S. Treasuries for liquidity and to meet redemptions, potentially earning interest income.
• The BDRY Benchmark Portfolio components and daily holdings are publicly available on www.drybulketf.com.
• As of June 30, 2026, the BDRY Benchmark Portfolio included specific futures contracts with market values detailed for Capesize, Panamax, and Supramax futures.
• Futures contracts are exchange-traded with minimal counterparty risk due to clearinghouse guarantees.
• The Trust's custodian and administrator is U.S. Bank and its affiliates, with Foreside Fund Services providing marketing and distribution services.
• BDRY does not intend to borrow money or use pyramiding techniques.
• Financial snapshot as of June 30, 2026, shows net income of $79,186,043 and cash and equivalents of $1,123,395 as of March 31, 2021.
• Recent news highlights include BDRY hitting a new 52-week high and being part of freight ETFs gaining attention due to tanker rates and oil market dynamics.
• The Trust's financial figures are summarized from the latest SEC filings and provided for informational purposes only.